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BAEcon Economics and Finance

Year of entry: 2021

Course unit details:
Financial Reporting

Unit code BMAN10501
Credit rating 10
Unit level Level 1
Teaching period(s) Semester 1
Offered by Alliance Manchester Business School
Available as a free choice unit? No


The course is concerned with the way in which organisations "account" for their activities to external users of financial reports. As well as offering an understanding of the general role, context and principles of financial reporting, it covers the basic recording of business transactions, through to the preparation of income statements, balance sheets and cash flow statements along with some of the associated measurement and disclosure problems. Bookkeeping techniques are taught within the course as a means to understand how the figures in financial reports are derived and thereby to assist with the interpretation of financial reports.

The course material is structured as follows:
TOPIC 1 : The basic framework - an introduction to financial reporting; the importance of choice of accounting method; basic principles and qualities of financial reports.

TOPIC 2: The principles of accounting recording and reporting - how transactions are recorded and the preparation of the basic reporting statements - the balance sheet, income statement and cash flow statement; the accounting equation; double entry bookkeepingand trial balances.

TOPIC 3: Recognition and measurement issues - illustrated with reference to specific areas of accounting: fixed assets; current assets and working capital; the owners’ interest in the business; and funds from long term credit.

TOPIC 4 : Interpretation of Accounts - analysis of financial reports using ratios.


Only available to students on: BA (Econ) Accounting and/or Finance Specialists, BSc Accounting and IBFE.



This course aims to provide a foundation knowledge and understanding of the principles and practices of financial reporting and of the role of accounting information within its broader economic, social and organisational context.

Financial reporting is one means by which an organisation provides information to its participants (e.g. shareholders and other providers of funds, employees, customers, suppliers and government) and is an important way in which companies are held accountable to those stakeholders. This course introduces underlying concepts of financial reporting, basic practices involved in the preparation of financial statements and the interpretation of the resulting information. It offers broad coverage of a number of major areas of financial reporting and also provides the basis for related, more specialist, courses in later years.



Learning outcomes

By the end of the course students should:

• have a foundation understanding of the principles which underpin financial reporting;
• have a foundation understanding of the content, meaning and limitations of financial reports;
• understand and be able to implement the basic recording procedures of financial accounting;
• be able to prepare a simple set of accounts, i.e. income statement (profit and loss account), statement of financial position (balance sheet) and cash flow statement;
• be able to interpret the financial statements of a limited company and speculate why ratios might have moved.


Through taking this course, students should also develop their skills in the following areas:
• the construction, use and evaluation of financial accounting data;
• accessing primary information;
• structuring and presenting ideas;
• the use of information technology;
• numeracy and problem solving;
• communication;
• time management and independent study.


Teaching and learning methods

18 one hour lectures (1 or 2 per week) and 7 one hour workshops over the duration of the course. Plus computer-based exercises.

Total study hours: 100 hours split between lectures, classes, self study and preparation for classes, coursework and examinations.

Informal Contact Methods
1. Office Hours with workshop leaders and lecturers
2. Online Learning Activities (discussions, self-assessment questions)


Transferable skills and personal qualities

The employability skills developed in this module include:

Critical thinking, and ethics and professionalism, as we consider the wider role of Financial Reporting and accountability and encourage an awareness of social and environmental sustainability. Communication in discussing these issues, writing essays on the subject and discussions in class and in study groups.

Adding value as we provide insight into the role of accountants in business, through the lecturers experience and guest speakers.

Decision making as students consider the professional judgement required when deciding how to account for transactions. Problem solving in various financial reporting scenarios, understanding the financial effect of accounting policies and using data to construct financial reports.

Technical Competence, as students both understand the basics of how to construct financial reports and the Students learn how to analyse and interpret financial information and present explanations of financial data provided.


Employability skills

The employability skills developed in this module include: Critical thinking, as we consider the wider role of Financial Reporting and encourage an awareness of social and environmental sustainability Problem solving as financial reporting problems are presented and asked to be solved

Assessment methods

90 minute unseen examination (80%) and computer-based assessment (20%).



Feedback methods

•       Informal advice and discussion during lectures and workshops.

•       Use of lecture polling to invite tailored lecture content and a focus on areas students are finding more difficult.

•       Personalised feedback on individual online exercises and quizzes delivered through Blackboard.

•       Responses to questions posted through online discussion forums in Blackboard.

•       Feedback and solutions to practical examples and questions.

•       Feedback posted on Blackboard regarding overall examination performance.


Recommended reading

The following book is indicative of the type of reading required for this module:

Weetman, P., (2019), Financial Accounting - An Introduction, 8th edition, Prentice Hall International.


Study hours

Scheduled activity hours
Assessment written exam 1.5
eAssessment 3.5
Lectures 18
Practical classes & workshops 7
Independent study hours
Independent study 70

Teaching staff

Staff member Role
Jennifer Rose Unit coordinator
Kenneth McPhail Unit coordinator

Additional notes

Additional notes

Length of course: 12 teaching weeks

Other Teaching Staff: TBC plus Graduate Teaching Assistants assist with workshop delivery.

Pre-requisites: None

Co-requisites: None

Dependent course units: BMAN21020 Financial Reporting & Accountability, BMAN20081 Financial Statement Analysis (if also taken BMAN10522 Financial Decision Making).

Programme Restrictions: Available to the following programmes of study - BA (Econ) specialising in, Finance, Accounting & Finance, Economics & Finance, BSc International Business, Finance and Economics and BSc Accounting students.

BMAN10501 is available to study abroad and exchange students admitted through the University of Manchester International Programmes Office.

For Academic Year 2020/21

Updated: March 2020

Approved by: March UG Committee

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