BSc International Business, Finance and Economics / Course details

Year of entry: 2022

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 framework of Financial Reporting - 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; the accounting equation; double entry bookkeeping and 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: The Cash Flow statement - preparing the cash flow statement and sources of finance for organisations.

TOPIC 5 : 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 the developing role of accounting information within its broader economic, social and organisational context. The course encourages consideration of how organisations account for their activities to 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 the core financial statements presented and considers the capacity for accounting information to develop in response to changing economic and social needs. Collectively this provides a valuable basis for students contemplating taking more specialist, and advanced, courses in later years.



Learning outcomes

It is expected that on successful completion of this course students should be able to:

  1. Explain and apply the principles which underpin financial reporting and how they affect financial reporting.
  2. Provide an informed view on the role and capacity for the development of financial reporting in society, including its contribution to accountability processes in the modern, international business world.
  3. Explain and apply the basic principles and elements of double-entry bookkeeping and appreciate how day to day accounting records are maintained;
  4. Specify the components of ¿nancial statements and prepare and present non-complex income statements, balance sheets and cash flow statements.
  5. Explain and apply the difference between cash and profit, sources of finance as well as the book value and market value of companies
  6. Interpret the financial statements of a limited company using ratio analysis and show an awareness of the relative significance of non-financial reported information.

In addition, the course also aims to assist the development of personal transferable skills by encouraging students to: 

  • Construct, use and evaluate financial accounting data.
  • Use information for the purposes of decision making; analyse evidence and apply judgement.
  • Have an awareness of the nature of contemporary accounting practice.
  • Communicate effectively in writing and participate actively in workshops either by leading discussions or responding to issues raised.

Teaching and learning methods

16 one hour lectures (1 or 2 per week) and 9 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:

Thomas, A & Ward A (2019, Introduction to Financial Accounting, Ninth Edition, McGraw Hill.


Study hours

Scheduled activity hours
Assessment written exam 1.5
eAssessment 3.5
Lectures 16
Practical classes & workshops 9
Independent study hours
Independent study 70

Teaching staff

Staff member Role
Jennifer Rose Unit coordinator

Additional notes

Additional notes

Length of course: 11 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 2021/22

Updated: March 2021

Approved by: March UG Committee

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