FINANCIAL ACCOUNTING 2 - 2020/1

Module code: MAN2090

Module Overview

Accounting is concerned with measurement and management.  Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business.

Module provider

Surrey Business School

Module Leader

MILLIGAN Victoria (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

JACs code: N410

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

Students must have completed Financial Accounting 1 (MAN1061)

Module content

Module content encompasses the following topics:


  • Published financial statements for a limited company together with relevant notes;

  • Statement of cash flows;

  • Manufacturing Accounts

  •  Partnership Accounts

  •  Club accounts;

  • Incomplete records


Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test 50 MINUTE CLASS TEST (CLOSED BOOK) 30
Examination 2 HOUR EXAM (CLOSED BOOK) 70

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate and apply knowledge accumulated in HEQ4 and 5.

Summative assessment for this module consists of:


  • A mid-term closed-book class test which carries 30% of the total mark of this module. The test is in week 6 of the semester and covers syllabus covered from week 1 to 5.

  • A closed-book examination based on the entire module content, carrying 70% of the total module marks.



Formative assessment and feedback

Students’ appreciation of the module will be assessed on an on-going basis through the weekly homework set and discussed in tutorials. Constant feedback is given, especially through the tutorial questions as well as the Surrey-learn discussions. Elements of self-assessment are also built into the tutorial questions. Students should attempt all the sample exam/test papers set on surrey-learn and check against the answers provided to take ownership of their studies. Students also have the opportunity to see tutor during office hours to discuss/obtain feedback on questions.

Module aims

  • Develop and expand on the knowledge brought forward from Financial Accounting 1 by further application of various international accounting standards and industry practices
  • Explore the differences between the legal, financing and reporting structure of various business entities
  • Prepare and interpret the financial statements for limited companies, clubs and partnerships applying both theoretical and practical knowledge

Learning outcomes

Attributes Developed
001 Explain the difference between various company types including the differences in legal structure, ownership, financing and reporting requirements KT
002 Construct an income statement and statement of financial position for limited companies, clubs and partnerships from a trial balance or from various other sources in the event of incomplete records KCP
003 Prepare and analyse the statement of cash flows for limited companies KCP
004 Analyse the financial statements of limited companies using ratio analysis in conjunction with their published annual reports KCP
005 Explain and apply advanced financial reporting using various IFRSs and IASs KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Workshop Hours: 11

Independent Study Hours: 117

Tutorial Hours: 22

Methods of Teaching / Learning

The learning and teaching strategy include the use of weekly two-hour tutorials and one hour drop-in session to illustrate the practical application supported by the theoretical aspects underpinning the applications. Students are also able to practice a range of weekly tutorial questions. Material covered in tutorials will be supported by directed reading and weekly homework exercises will be set to assess students’ appreciation and application on an on-going basis in addition to using the Electronic Voting System in tutorials. Surrey-learn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, past exam papers and class tests and model answers and relevant reading. Students are encouraged to post questions/answers and interact/discuss with fellow students on Surrey-learn especially when they are doing independent studying.

The learning and teaching methods include:


  • Tutorials 2 hours per week  x 11 weeks

  • Drop-in sessions 1 hours per week x 11 weeks

  • Use of EVS


Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN2090

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Accounting and Finance BSc (Hons) 1 Compulsory A weighted aggregate mark of 40% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2020/1 academic year.