Program Overview

Advanced Financial Accounting I Module

The Advanced Financial Accounting I module, coded as BU30001, is a comprehensive course that delves into the practical and theoretical aspects of applying accounting standards and preparing published financial statements.

Module Details

• Credits: 15
• Level: 3
• Semester: Semester 1
• School: School of Business
• Discipline: Accounting and Finance

This module aims to further develop the knowledge and skills gained in Intermediate Financial Accounting, focusing on areas such as accounting for leases, revenues, and long-term contracts, financial instruments, provisions and contingencies, and current and deferred tax.

What You Will Learn

In this module, you will:

• Learn about the accounting standards applicable to UK companies
• Discuss related theoretical issues, ongoing debates, current developments, and research
• Prepare single entity and group financial statements and analyze their content

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

• Understand, describe, critically discuss, and evaluate extant accounting standards (UK and international) and their underlying theories, concepts, and principles
• Identify, discuss, rationalize, and critically evaluate the possible alternative accounting treatments available within the extant accounting standards
• Apply the current requirements, developments, and research in making informed professional judgments and decisions
• Apply the extant accounting standards in preparing and interpreting a set of published financial statements for a single entity or for a group
• Use appropriate resources to seek out information on the latest developments and research in financial reporting and make informed professional judgments and decisions
• Communicate orally and in writing in a clear, concise, and effective manner
• Demonstrate the ability to manage time effectively and work independently and in a group

Assignments / Assessment

• Coursework: 20%
• Final Exam: 80%

Teaching Methods / Timetable

This module will be delivered via on-campus (face-to-face) lecture sessions and tutorials, including:

• Two-hour lecture weekly
• One-hour tutorial weekly Additional sessions may be arranged to provide additional examples or invite guest lecturers.

Courses

This module is available on the following undergraduate courses:

• Accountancy BAcc
• Accountancy BAcc (Hons)
• Accountancy with Finance BAcc (Hons)
• Accountancy and Mathematics BSc (Hons)