AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2015/16 session.

Teacher responsible

Mr Marcus Witzky OLD 3.34 and Prof Bjorn Jorgensen OLD 2.17


This course is compulsory on the MSc in Accounting, Organisations and Institutions. 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 Law and Accounting, 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 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, leases, deferred taxes, 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 and essays.

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

(2011/12 - 2013/14 combined)

Classification % of students
Distinction 39.1
Merit 30
Pass 17.3
Fail 13.6

Key facts

Department: Accounting

Total students 2014/15: 94

Average class size 2014/15: 12

Controlled access 2014/15: 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