AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2013/14 session.

Teacher responsible

Professor Bjorn Jorgensen OLD 2.17


This course is available on the Diploma in Accounting and Finance, MPA in European Public and Economic Policy, MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MSc in Development Management, MSc in Law and Accounting, MSc in Management, MSc in Management, MSc in Management Science (Operational Research) and MSc in Management and Strategy. This course is available with permission as an outside option to students on other programmes where regulations permit.

The course may also be taken by MSc students who have not previously studied accounting subjects to a significant extent. Students in the MSc Accounting and Finance programme are not permitted to enrol in this course or in AC464 (see below).

Note: this course also forms the first half of the full-unit course AC464 Management Accounting and Financial Accounting: Decisions, Control, Reporting and Disclosure. Students wishing to take both the half-unit courses AC490 and AC491 will be required to take AC464 instead. Students cannot take AC491 in conjunction with either AC464 or AC490.

Course content

This course provides students with an introduction to financial accounting, and highlights aspects of reporting that are important to users of financial information. The course covers the preparation of key financial statements and the frameworks of accounting regulation. The course will also cover accounting issues related to depreciation, goodwill, and intangible assets, equity, debt, and consolidation. Students will be introduced to financial statement analysis and research on the use of accounting information in financial markets.


20 hours of lectures and 8 hours of seminars in the MT. 2 hours of lectures in the ST.

Formative coursework

Students are expected to produce several pieces of written work, including accounting exercises and essays.

Indicative reading

A detailed reading list will be made available at the start of the course. Illustrative text: Weetman P, Financial Accounting: an Introduction, 5th edn, Prentice Hall, 2011.


Exam (100%, duration: 2 hours) in the main exam period.

Students answer four questions (one compulsory question; two from four questions; and one out of two essay questions).

Key facts

Department: Accounting

Total students 2012/13: 27

Average class size 2012/13: 5

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Problem solving
  • Application of information skills
  • Application of numeracy skills
  • Commercial awareness
  • Specialist skills