AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2016/17 session.

Teacher responsible

Dr Marcus Witzky OLD 3.33 


This course is compulsory on the MSc in Accounting, Organisations and Institutions. This course is available on the CEMS Exchange, Diploma in Accounting and Finance, IMEX Exchange, 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 Law and Accounting, MSc in Management, MSc in Management (CEMS MIM), MSc in Management (MiM Exchange), MSc in Management Science (Operational Research), MSc in Management and Strategy and MiM Exchange. 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 on the MSc Accounting and Finance programme are not permitted to enrol in this course or in AC490. This course cannot be taken in conjunction with AC414 Financial Reporting, Capital Markets and Business Combinations or AC420 Financial Reporting in Capital Markets.

The course is capped at 115 students.

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, intangible assets, equity, debt, fair value measurement 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.

There will be a reading week in week 6 of MT. 2 hours of lectures in ST.

Formative coursework

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

Indicative reading

A detailed reading list will be made available at the start of the course. Illustrative texts: Tracy and Tracy. How to Read a Financial Report. 8th edn, Wiley, 2014. Weetman P, Financial Accounting: an Introduction, 6th edn, Prentice Hall, 2013.


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).

Student performance results

(2012/13 - 2014/15 combined)

Classification % of students
Distinction 41.4
Merit 32.8
Pass 15.5
Fail 10.3

Key facts

Department: Accounting

Total students 2015/16: 88

Average class size 2015/16: 12

Controlled access 2015/16: Yes

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

Course survey results

(2012/13 - 2014/15 combined)

1 = "best" score, 5 = "worst" score

The scores below are average responses.

Response rate: 77%



Reading list (Q2.1)


Materials (Q2.3)


Course satisfied (Q2.4)


Lectures (Q2.5)


Integration (Q2.6)


Contact (Q2.7)


Feedback (Q2.8)


Recommend (Q2.9)