INTERNATIONAL FINANCIAL REPORTING - 2023/4

Module Overview

This module provides an opportunity for students to appreciate and apply the rules and practices in company financial reporting, as well as the theoretical ideas underpinning them. The focus is on internationally accepted rules and practices (International Financial Reporting Standards and International Accounting Standards), rather than just those in the UK.

Module provider

Surrey Business School

Module Leader

THEVA Luckie (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

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

Module Availability

Semester 1

Prerequisites / Co-requisites

MANM198 (Principles of Accounting) is a pre-requisite for this module.  

Module content

• Capital structure


• Investors and listed companies


• Financial statements


• International financial reporting standards


• Consolidated financial statements

Assessment pattern

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate the knowledge accumulated in relation to various International Reporting Standards and how companies apply these standards to their Financial Statements.

Summative assessment for this module consists of:

• A mid-term closed-book class test. The test will cover the content delivered in the first part of the module.  


• A final online examination based on the entire module content

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 to ensure that students cultivate the abilities of application and analysis. 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 from Principles of Accounting by focusing on international accounting standards
• apply international financial reporting standards for private and listed companies
• enable students to prepare consolidated financial statements

Learning outcomes

Methods of Teaching / Learning

The teaching and learning strategy is designed to provide a module that contains many of the advanced elements of International Financial Reporting. Students will be guided to appreciate and apply the theoretical aspect as well as the practical relevance of the module and for that purpose, students will be exposed to various international accounting standards and industry practices where necessary.

The teaching and learning include:

• Lectures – students will be introduced to and explore key topics themes and theories


• Seminars – students will practice the application of skills


• Surrey-learn will be used as an information portal and will contain lecture notes, past exam papers and class tests and guided learning such as practical exercises and solutions. In addition, students are encouraged to participate in discussions on Surrey Learn to enhance their learning experiences.

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: MANM201

Other information

Resourcefulness and resilience: Consolidation is a highly technical subject area. The module will encourage students to build self-directed learning skills. The in-class learning activities will mirror the practical challenges and skills required for continuous professional development as practitioners need to update themselves with the latest IFRS and IAS rules and their application in financial reporting.

Employability and global capabilities: International Financial Reporting is a tool used by global corporations and allows global comparison of performances. An invaluable skill for students to develop and deepen, which also supports international employability as the IFRS is being adopted and accepted by more countries across the globe to facilitate easier interpretation of financial performance and position to enhance international trading relationships.  

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 2023/4 academic year.