Module overview
This module provides a critical understanding of fundamentals of financial accounting. It examines how financial statements are prepared and the concepts and measurement issues underlying their preparation, enabling you to appreciate the way that recording financial information provides a basis of control.
The module will consider how financial performance and other information are reported by management in the published financial reports of companies, and how this information may be used by shareholders and analysts, and other stakeholders.
Aims and Objectives
Learning Outcomes
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- apply problem-solving skills to solve complex problems;
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Analysing and interpreting the published financial reports of companies within a global context.
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- the terminology and analytical tools used by accountants and financial analysts in financial statements.
- the underlying principles of accounting and the importance of accounting measurement;
- the effects on financial results of management decisions, corporate transactions and of the adoption of different accounting policies;
Syllabus
• Introduction to accounting and financial statements
• Financial accounting concepts, standards and reporting requirements
• Accounting for assets
• Interpretation of accounts
• Group accounts
• Selected other topics in financial accounting as appropriate.
Learning and Teaching
Teaching and learning methods
There will be two-hour weekly lecture and two-hour biweekly seminar sessions. Students will also be expected to spend about 120 hours on private study including reading, working computational examples and preparing for seminars. Work will be set to be prepared in advance for the seminar sessions.
Study time
| Type | Hours |
|---|---|
| Teaching | 32 |
| Independent Study | 118 |
| Total study time | 150 |
Resources & Reading list
Textbooks
Atrill and McLaney (2013). Financial Accounting for Decision Makers. Pearson.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
In-class Test
- Assessment Type: Formative
- Feedback: Students carry out various exercises throughout the seminars, and get immediate formative feedback on their understanding of the concept/technique when the answer is given and explained. Students will be encouraged to engage in open discussion during taught sessions. Finally, formative feedback will be provided during face to face meeting when required by a student.
- Final Assessment: No
- Group Work: No
Summative
This is how we’ll formally assess what you have learned in this module.
Breakdown
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Breakdown
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Breakdown
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
Repeat Information
Repeat type: Internal & External