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The University of Southampton

MANG6031 Financial Accounting 2

Module Overview

The module builds on MANG6030 Financial Accounting 1 and exposes students to various accounting theories and approaches to further their understanding of accounting developments nationally (UK) and internationally. The module also exposes students to some of the complex and current issues related to accounting measurements, employee benefits, financial instruments and group accounts.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • how to explain and comment critically on the main features of the financial reporting environment in the United Kingdom and internationally;
  • how to explain and critically evaluate accounting principles and conceptual frameworks;
  • how to demonstrate an understanding of and critically evaluate theories of financial accounting and reporting.
  • how to explain the role of corporate governance mechanisms and their impact on financial accounting and reporting.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • explain, apply and critically evaluate a range of accounting approaches to measuring financial position and performance;
  • apply accounting principles and theories to current issues in financial reporting.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • An ability to solve complex problems;
  • Written communication skills;
  • An ability to critically evaluate concepts and practices;
  • Numeracy skills;


• The role of theory in understanding financial accounting and reporting practices • The development of financial reporting theories • Accounting principles and conceptual frameworks • The financial reporting and corporate governance environment in the United Kingdom • Alternative ways of measuring financial position and performance • Current issues in financial reporting

Learning and Teaching

Teaching and learning methods

• Lectures • Classes/seminars covering exercises/lecture/seminar materials previously distributed to students

Independent Study126
Total study time150

Resources & Reading list

W. H. Beaver (1998). Financial Reporting: An Accounting Revolution. 

B. Elliott & J. Elliott. Financial Accounting and Reporting. 

D. Alexander, A. Britton & A. Jorissen. International Financial Reporting and Analysis. 

A. Riahi-Belkaoui (2004). Accounting Theory. 

C. Deegan (2009). Financial Accounting Theory. 



Case study


MethodPercentage contribution
Individual assignment  (1500 words) 30%
Individual Coursework 70%


MethodPercentage contribution
Individual assignment  (1500 words) 30%
Individual Coursework 70%


MethodPercentage contribution
Individual Coursework 100%

Repeat Information

Repeat type: Internal & External


Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:


Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at

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