FINANCIAL ACCOUNTING - 2022/3

Module Overview

The module examines the processes which underlie the preparation of the financial statements of listed companies in the UK and Europe which are the main source of financial information available to external stakeholders, and the assessment of an organisation’s performance through analysis and interpretation of its financial statements.

Module provider

Economics

Module Leader

SOPP Rachel (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

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

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

Indicative content includes:

• Overview: Financial Position Statement / Income Statement and the underlying transactions which create them.


• Accounting framework: accounting concepts and conventions, accounting standards; valuation


• Evaluation of results: performance analysis tools; cash flow statements

Assessment pattern

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate

• Their knowledge of the accounting framework and how basic transactions would be reflected in the financial statements,


• Their ability to use the performance analysis tools and evaluate the results shown in a listed company financial report.

• A midterm test that assesses students’ understanding of the accounting framework and how basic transactions would be reflected in the financial statements.


• A final term examination covering all course materials.

• Students will receive verbal feedback during lectures through direct questioning, also from class exercises which will challenge their understanding of the building blocks,


• Class exercises and indicative questions given before the test, will be the basis of the midterm test – students will be encouraged to research these and ask questions.

Module aims

• Learn the main principles of financial accounting.
• Understand financial statements.
• Preparation of financial statements.
• Learn financial performance indicators and ratios.

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

• Enhance skills in information processing, evaluation and written and verbal presentation,


• Appreciate the complexities of a framework designed to maintain clarity, consistency and comparability in financial reporting in the UK and Europe.

• 2 hour lecture/seminar including illustrative practical exercises per week for 10 weeks.

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: ECO2055

Other information

The School of Economics is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability, and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities particularly in the following areas:

Employability: 
The module is designed to give fundamental knowledge in accounting and understanding of business decision-making. Completing this module will help students in their future careers.

Resourcefulness and resilience: 
Students will learn how to understand and interpret financial statements. They will be able to undertake a basic financial analysis of any organisation upon completion of the module.

Global and Cultural Intelligence:
The module is based on IFRS, fundamental accounting principles and standards. Students will be able to analyse financial statements of entity from most countries by the end of the module.

Programmes this module appears in

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 2022/3 academic year.