Module Directory

This module is designed to deepen students' technical expertise in key areas of financial reporting. It focuses on enhancing practical skills in preparing complex financial statements, with an emphasis on cash flows, consolidated accounts, and taxation. The module also explores the finer points of accounting for business combinations, investments, and events after the reporting period. By integrating theoretical knowledge with real-world practice through industry insights, the module aims to bridge the gap between academic learning and practical application, preparing students for advanced professional roles in accounting and finance.

The aims of this module are:

• To equip students with a robust understanding of financial reporting principles, practices, and their application in the real world.


• To provide a comprehensive understanding of the preparation, presentation, and analysis of financial statements, aligning with the latest accounting standards and practices. Through a blend of theoretical knowledge and practical insights from industry professionals, students will develop a critical understanding of the role of financial reporting in decision making and corporate governance.


• To emphasize the ethical considerations and challenges in financial reporting, preparing students to navigate complex scenarios in their professional careers with integrity and expertise.

By the end of this module, students will be expected to be able to:

1. Gain comprehensive knowledge of the conceptual framework and accounting standards that underpin financial reporting, enabling a robust understanding of how these standards guide the preparation and presentation of financial statements.


2. Develop proficiency in preparing key financial statements including the statement of comprehensive income, statement of financial position, and statement of changes in equity, with a specific focus on accounting for property, plant and equipment, intangible assets, and inventories.


3. Acquire analytical skills to evaluate financial statements, focusing on performance, position, and prospects of a business. This includes the ability to calculate and interpret critical financial ratios like EBITDA, Earnings Per Share, and conducting credit and equity analyses.


4. Gain insights from professional accounting practice through talks and interactions with practitioners, enhancing understanding of real-world applications and current practices in financial reporting.


5. Understand the adversarial nature of financial reporting, exploring topics related to fraud, forensic accounting, and the ethical responsibilities of accountants in combating these challenges.

Professional body requirements

• In order to meet accreditation requirements students will be required to pass this module.

Syllabus information

• Conceptual framework and accounting standards for financial reporting.


• Financial statements and accounting policies.


• Preparation of statement of comprehensive income.


• Preparation of statement of financial position (Property, plant and equipment).


• Preparation of statement of financial position (Intangible assets).


• Preparation of statement of financial position (Inventories).


• Share capital and reserves (statement of changes in equity).


• Financial statements analysis: performance, position and prospects (including, EBITDA, Earnings Per Share, credit and equity analysis).


• Financial statements analysis: talk by an accounting firm.


• Adversarial nature of financial reporting, fraud and forensic accounting.

This module will be delivered via:

• Ten 2-hour lectures and workshops (weeks 2-11)
• Five 1-hour classes (weeks 2-11)

The lectures will explore the main areas and themes covered in the module. The workshops will be used flexibly depending on the topic covered in the lecture to elaborate or expand on the lecture material or to demonstrate the solution to problems or questions. The material covered in the classes will be drawn from a wide variety of sources such as textbooks, journal articles, learning materials for professional exams, past exam papers etc. As such, the class question for each week will be uploaded on Moodle the week before. Students are expected to read the references in the reading list and prepare problems and exercises as specified in advance of the classes, so that they can take an active part in discussing the various issues that will be considered in the classes.