Module Information

Module Identifier
Module Title
Academic Year
Semester 2 (Taught over 2 semesters)
Other Staff

Course Delivery

Delivery Type Delivery length / details
Lecture 18 Hours. per semester
Seminars / Tutorials 6 Hours. per semester


Assessment Type Assessment length / details Proportion
Semester Exam 3 Hours   Unseen written examination  70%
Semester Assessment Class Test  20%
Semester Assessment Coursework  10%
Supplementary Exam 3 Hours   Unseen written examination  100%

Learning Outcomes

Having followed this module a student should be able to:

* Describe and explain the conventions which underpin financial accounting

* Describe, compare and contrast the different forms of UK business organisations

* Explain, apply and illustrate and rules by which assets, liabilities, income and expense are determined for insertion into financial accounts

* Describe and evaluate the financial recording procedures followed by organisations

* Interpret a trial balance and thence prepare a set of accounting statements

* Prepare partnership accounts

* Describe, explain, apply, interpret and criticise the common simple methods of financial statement analysis

* Use accounting computer software to record business transactions


This module aims to give students a thorough grasp of the basics of financial reporting (context, purposes, regulatory framework) and build towards a proficiency in the recording of business transactions, and the preparation and interpretation of the primary financial statements (profit and loss account, balance sheet and cash flow statement). It also aims to build proficiency in the use of accounting computer software.

The module also aims to assist the development of a variety of personal transferable skills by encouraging students to:

  • Identify and distil key features covered by lectures, tutorials and recommended readings
  • Develop basic information accessing and research skills; discriminate between relevant and irrelevant information for the purposes of decision making; analyse data, apply judgement and solve problems
  • Communicate effectively both orally and in writing; participate actively in tutorials either by leading discussions or responding to issues raised; and work under pressure and meet deadlines

Brief description

This module provides a thorough grounding in the context, purposes and practices of financial reporting, and an intorduction to the interpretation of financial accounts.


This is a compulsory module for first year BScEcon Accounting and Finance (single, joint, major and minor) and Business Finance students.

For a student to progress to Part 2 and to remain on a single, joint, major or minor Accounting and Finance degree scheme AC11020, AC10710 and AC10210 MUST be passed with a mark of 40 or better for each module.


  • Context and purposes of financial reporting in the UK
  • Regulatory framework and standars for financial reporting
  • Accounting concepts, policies and treatments
  • Recording business transactions
  • Preparation of financial staments (profit and loss account, balance sheet and cash flow statement)
  • Interpretation and analyis of financial statements
  • Use of accounting software

Reading List

Recommended Text
Attrill, P and McLaney, E (2006) Accounting an Introduction 3rd edition Prentice Hall Primo search Bebbington, J., Gray, R. and Laughlin, R. (2001) Financial Accounting Practice and Principles 3rd edition Thomson Learning Primo search Britton, A and Waterson, C (2006) Financial Accounting 4th edition, Prentice Hall Primo search Thomas, A (2002) Introduction to Financial Accounting 4th edition McGraw-Hill Primo search Weetman, P. (2006) Financial Accounting: An Introduction 4th edition Prentice Hall Primo search
Supplementary Text
Davies, T and Boczko, T (2005) Financial Accounting an Introduction McGraw Primo search Gowthorpe, Catherine (2005) Business Accounting and Finance for Non-specialists 2nd edition Thomson Primo search


This module is at CQFW Level 4