Dr Vasiliki Athanasakou, OLD 2.20, Dr Stefano Cascino, OLD 3.32, and Professor Richard Macve, OLD 3.35.

Compulsory for BSc Accounting and Finance. Optional for BSc Management and Diploma in Accounting and Finance. The course is also available as an outside option and to General Course students, subject to the course leader's permission, if students have achieved a sufficient standard of performance in the pre-requisite course AC100 Elements of Accounting and Finance or equivalent.

Background required equivalent to AC100 Elements of Accounting and Finance.

The course addresses the theory and practice of financial reporting. Accounting practices are examined in the light of historical development, regulatory requirements, theories of income and capital and other approaches to accounting theory and to the use of accounting information in business analysis and valuation.

Financial accounting with particular reference to company accounts. Issues in financial accounting including accounting for business combinations under International Accounting Standards. Implications of empirical research into stock market effects of management choice of accounting policies. Business analysis and valuation. Regulation of financial reporting. International standardisation of accounting practice. A conceptual framework for financial reporting. The measurement of income, costs and depreciation. The valuation of assets. Accounting for changing prices. Further details will be given at the start of the course.

40 Lectures of one hour each (AC330), two each week MT, LT. 20 Classes of one hour each (AC330.A, AC330.B), weekly MT, LT, ST.

Students should prepare weekly written work for class discussion. At least two pieces per term will be collected for marking.

Detailed reading lists of books and journal articles will be provided during the course. No one book covers the entire course. Recommended books include G Whittington, Inflation Accounting: an introduction to the debate, CUP (1983); Baxter, W.T., Inflation Accounting, Oxford, Philip Allan, (1984); Beaver, W.H., Financial Reporting: An Accounting Revolution, Prentice-Hall (1998 - use latest edition); Palepu, K.G., Healy, P.M., Bernard, V.L and Peek, E., Business Analysis and Valuation: IFRS Edition, Thomson (2010).

Formal examination of three and a quarter hours (the first fifteen minutes of which will be reading time) in ST. The examination structure will follow that introduced in 2009-10.