• Home
• Study
• Study Information
• Modules
• Module Information

Financial Accounting and Reports

Module description

This module provides an introduction to financial accounting as well as providing a solid foundation in the theory and practice of financial accounting. Students will be equipped with the necessary competencies in the preparation and presentation of financial statements.

This module has no pre-requisite and is suitable for students who seek to pursue postgraduate degrees in Finance and/or Accounting.

Module aims - intentions of the module

The module aims to give students a solid foundation in the theory and practice of financial accounting and regulatory framework. Students will be equipped with necessary competencies in the preparation and presentation of financial statements according to the requirements of the International Financial Reporting Standards. Students will also gain knowledge and understanding of the accounting theories and apply this using contextual information.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Prepare and present financial statements which conform with international accounting standards
• 2. Analyse and interpret financial statements using contextual information
• 3. Identify the relationships among the income statement, statement of financial position, statement of cash flows, and statement of owners’ equity

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 5. Apply logical thinking and numeracy skills to problems by using appropriate accounting and finance techniques
• 6. Develop a secure knowledge of reporting and accounting principles
• 7. Analyse financial statements to inform investment decisions

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 8. Demonstrate an appropriate use of learning resources
• 9. Demonstrate ability to communicate financial information effectively and confidence with relevant numerical skills

Syllabus plan

• Regulatory framework
• IASB conceptual framework
• Preparation of financial statements and financial plans including:
• Statement of financial position (equity, liabilities, assets measurement and disclosure)
• Income Statement
• Cash Flow Statement
• Statement of Owners’ Equity
•  
• Interpretation and analysis
• Accountability

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a referral exam. Only your performance in this will count towards your final module grade. A grade of 40% will be awarded if the examination is passed. Referral exams assess ILOs (i.e. skills, knowledge and understanding) from across the module.

Indicative learning resources - Basic reading

Basic reading:

Financial accounting for decision makers (10^th Ed), Atrill,P. & McLaney,E., Pearson, (2022)

Indicative learning resources - Web based and electronic resources

Web-based and electronic resources:

• ELE –  Course: (INT3614) Financial Accounting and Reporting (exeter.ac.uk)

Key words search

Financial Accounting, Financial Reports, Finance, Accounting, Accounting Principles