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

Module Aims

To provide you with an understanding and evaluation of: • the principal theoretical approaches to understanding financial accounting and reporting. • the application of these issues in dealing with current issues in financial reporting. • the regulatory structure of financial reporting and the role of corporate governance.

Learning Outcomes

Knowledge and Understanding

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

  • Explain and comment critically on the main features of the financial reporting environment in the United Kingdom and internationally;
  • Explain and critically evaluate accounting principles and conceptual frameworks;
  • Demonstrate an understanding of and critically evaluate theories of financial accounting and reporting.
  • 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

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

C. Deegan (2009). Financial Accounting Theory. 

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

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

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



Case study


MethodPercentage contribution
Examination  (2 hours) 70%
Individual assignment  (1500 words) 30%


MethodPercentage contribution
Examination  (2 hours) 70%
Individual assignment  (1500 words) 30%


MethodPercentage contribution
Examination  (2 hours) 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 core/recommended 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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