Issues in Financial Reporting (743N1)

15 credits, Level 7 (Masters)

Autumn teaching

Financial accounting statements communicate information about organisations to users for the purposes of control, financial performance assessment and the valuation of companies. 

The module begins by discussing the demand and supply effects for financial statements from an agency theory perspective, which sets the scene for an understanding and critical evaluation of the IASB's conceptual framework for the preparation and presentation of financial statements. A short intensive review of accounting technique is provided in week two based on accruals, the accounting identity and the preparation of statements of comprehensive income and financial position statements. The module then reviews the accounting policies and critically evaluates the regulatory requirements for the preparation of financial statements in accordance with International Accounting Standards. The role and contribution of ratio analysis to the interpretation of financial information for investors and lenders is then discussed. The module continues by reviewing and discussing the topics of accounting for taxation in financial statements and the role of audit and concludes by discussing a range of accounting research methodologies. 

The aim of the module is to equip you with the technical skills to prepare financial statements of listed companies in accordance with the requirements of International Accounting Standards and International Financial Reporting Standards and to analyse and discuss their usefulness for the purpose of investing and lending decisions and to provide a framework for understanding and evaluating the role of accounting regulation.

Contact hours and workload

This module is approximately 150 hours of work. This breaks down into about 38 hours of contact time and about 112 hours of independent study. The University may make minor variations to the contact hours for operational reasons, including timetabling requirements.

We regularly review our modules to incorporate student feedback, staff expertise, as well as the latest research and teaching methodology. We’re planning to run these modules in the academic year 2022/23. However, there may be changes to these modules in response to feedback, staff availability, student demand or updates to our curriculum. We’ll make sure to let you know of any material changes to modules at the earliest opportunity.