BSc Accounting

Year of entry: 2024

Course unit details:
Financial Reporting

Course unit fact file
Unit code BMAN10501
Credit rating 10
Unit level Level 1
Teaching period(s) Semester 1
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, BSc Business 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. 
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 financial 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.

Teaching and learning methods

18 one hour lectures (1 or 2 per week) and 9 50 minute workshops over the duration of the course. Lectures and workshops are supported by blended learning material  
Total study hours: 100 hours split between lectures, classes, self study and preparation for classes, and assessments 

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

Transferable skills and personal qualities

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.

Employability skills

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 issues.
Oral communication
Communication when discussing the above matters, writing essays on the subject and class-based/study groups analysis.
Problem solving
Commercial awareness as we provide insight into the role of accountants in business, through the lecturers' and guest speakers' experiences.
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, analyse and interpret financial information and present explanations of financial and non-financial data.

Assessment methods

Examination (80%) 
Computer-based assessment (20%) 

Feedback methods

Throughout the lectures there will be extensive use of lecture polling to invite tailored lecture content and a focus on areas students are finding more difficult. You must take part in this to enable us to focus on the areas which you most need help with.
General feedback comments and notes on each of the workshop exercises will be made available through Blackboard shortly after the week in which the workshop takes place. You should also arrange to see your workshop leader and lecturer during their consultation and office hours to get feedback on specific queries.
Multiple choice quizzes available through Blackboard will give you an indication of competence in the material covered by the quiz and you will receive personalised feedback on the areas which you had not performed as well in.
You can post queries through the discussion board in the course Blackboard site and these will be answered by other students and tutors. 
Commentary on exam performance is in the generic feedback published to students on the course via. The report on the previous years exam is shown on Blackboard for you. This is a great source of insight about how the previous year’s students performed and the challenges they faced. 

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 5
Lectures 18
Practical classes & workshops 9
Independent study hours
Independent study 59.5

Teaching staff

Staff member Role
Andrew Pierce Unit coordinator
Jennifer Rose Unit coordinator

Additional notes

Additional notes 
Length of course: 11 teaching weeks 
Other Teaching Staff: 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: This course is only available to students taking the following programmes of study - BA (Econ) specialising in Accounting, Finance, Accounting & Finance, Accounting & Economics, Economics & Finance, BSc International Business, Finance and Economics, BSc Accounting and BSc Business Accounting.

For Academic Year 2023/24

Updated: March 2023

Approved by: March UG Committee

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