Module manager: Jonathan Duxbury
Email: j.duxbury@leeds.ac.uk
Taught: Semesters 1 & 2 (Sep to Jun) View Timetable
Year running 2024/25
| LUBS1915 | Introduction to Financial Accounting |
| LUBS2035 | Finance for Small Business |
| LUBS2291 | Financial Accounting and Reporting |
This module is not approved as a discovery module
This module covers the financial accounting and reporting required of companies following the International Accounting Standards in the UK. It covers, in some depth, the technical accounting for a wide range of issues and will enable you to build on existing technical knowledge to a standard that allows you to apply and critically evaluate the rules and principles being applied under IFRS. By the end of this module, you should be able to analyse many of aspects in a set of financial statements and be able to critically assess the accounting methods adopted.
This module aims to provide students with knowledge of the theoretical underpinnings which drive the current regulations and corporate guidance for UK companies.
Upon completion of this module students will be able to:
- Explain why there is a need for regulation and standards in financial reporting and the problems caused by necessary flexibility for accounting standards and be able to identify and analyse the effects of creative accounting
- Evaluate the purpose, form and requirements of accounting standards covering a variety of aspects of financial reporting, such as cash flow, tangible and intangible assets, leases and group accounts.
- Recognise the difference between accounting for profit and accounting for cash
Upon completion of this module students will be able to:
Transferable
- Competently apply numerical and statistical skills to manipulate and interrogate financial and other numerical data using current communication and information technology
- Extract relevant information from structured scenarios and data in order to identify problems and define solutions
Subject Specific
- Apply technical knowledge to a variety of scenarios to calculate numerical results to enable further analysis and interrogation
- Structure, analyse, interrogate and communicate information
Indicative content:
Introduction to the regulation of accounting and international financial reporting standards
Form and content of published accounting statements: Income Statement, Statement of Financial Position, Statement of Cashflows, other legal requirements
Specific international accounting standards: such as property, plant and equipment, intangible assets, leases, accounting for business combinations
Interpretation of financial statements
Current developments
| Delivery type | Number | Length hours | Student hours |
|---|---|---|---|
| Lecture | 22 | 2 | 44 |
| Seminar | 10 | 1 | 10 |
| Private study hours | 146 | ||
| Total Contact hours | 54 | ||
| Total hours (100hr per 10 credits) | 200 | ||
This could include a variety of activities, such as reading, watching videos, question practice and exam preparation.
Marked assignments in each semester as well as opportunities to obtain formative feedback in seminars and consultation hours.
| Exam type | Exam duration | % of formal assessment |
|---|---|---|
| Standard exam (closed essays, MCQs etc) | 3.0 Hrs 0 Mins | 100 |
| Total percentage (Assessment Exams) | 100 | |
The resit for this module will be 100% by 3 hour examination.
The reading list is available from the Library website
Last updated: 10/10/2024
Errors, omissions, failed links etc should be notified to the Catalogue Team