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MN50777: Financial accounting

[Page last updated: 05 August 2021]

Academic Year: 2021/2
Owning Department/School: School of Management
Credits: 12 [equivalent to 24 CATS credits]
Notional Study Hours: 240
Level: Masters UG & PG (FHEQ level 7)
Academic Year
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Aims: The aim of this unit is to review selected specialist topics in preparing financial statements of listed companies in accordance with the requirements of international accounting standards, set them in context of current accounting theory, and develop a critical understanding of the role of accounting information in capital markets.

Learning Outcomes: At the end of this unit students will be able to:
1. Explain the role of financial accounting as an information source for external users and preparers of financial statements;
2. Discuss and evaluate the usefulness and limitations of the information provided in financial statements;
3. Prepare financial statements for listed enterprises and their groups in accordance with the requirements of International Financial Reporting Standards;
4. Analyse the performance and position of companies and changes therein and interpret the information for decision making purposes by applying ratio analysis to data extracted from published financial statements;
5. Discuss and evaluate different methodological approaches to financial accounting research.

Skills: Intellectual Skills
* the ability to appropriately apply a framework of rules, regulations and principles to financial information; TFthe ability to interpret financial information. TFA
* the ability to interpret financial information. TFA
Professional Practical Skills
* the ability to prepare financial reporting information in a form suitable for publication in compliance with regulatory requirements; TFA
* the ability to analyse financial information and draw business-relevant conclusions; TFA
* sensitivity to potential accounting issues deriving from future developments in business practice and transactions. FA
Transferable/Key Skills
* the ability to manipulate financial data to achieve a specified objective in accordance with rules, regulations and principles. FA
* awareness of ethical and accountability issues for corporate entities. FA
* the ability to represent and communicate business activities as financial information in a form understandable to users of such information. FA

Content: 1. The preparation of financial statements from a trial balance.
2. Current international accounting standards covering the presentation of financial statements and a number of transactions and balances including, for example, financial instruments, non-current assets, provisions, taxation, and revenue recognition.
3. Analysis and interpretation of financial statements.
4. Financial reporting environment and current issues
5. Consolidated financial statements under the guidance of International accounting standards
6. Accounting concepts, decision usefulness and decision theory
7. Normative, positive and critical theories of financial reporting.
8. Earnings management.

Programme availability:

MN50777 is Compulsory on the following programmes:

School of Management


  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
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