AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2018/19 session.

Teacher responsible

Prof Ane Miren Tamayo OLD.5.05


This course is available on the CEMS Exchange, Diploma in Accounting and Finance, Global MSc in Management, Global MSc in Management (CEMS MiM), Global MSc in Management (MBA Exchange), MBA Exchange, MPA Dual Degree (LSE and Columbia), MPA Dual Degree (LSE and Hertie), MPA Dual Degree (LSE and NUS), MPA Dual Degree (LSE and Sciences Po), MPA Dual Degree (LSE and Tokyo), MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, MSc in Accounting, Organisations and Institutions, MSc in Law and Accounting, MSc in Management and Strategy and Master of Public Administration. 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, 7th edn, Pearson, 2016.


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

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

Student performance results

(2014/15 - 2016/17 combined)

Classification % of students
Distinction 52.8
Merit 28.3
Pass 13.8
Fail 5.2

Key facts

Department: Accounting

Total students 2017/18: 61

Average class size 2017/18: 9

Controlled access 2017/18: Yes

Lecture capture used 2017/18: Yes (MT)

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

(2014/15 - 2015/16 combined)

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

The scores below are average responses.

Response rate: 86%



Reading list (Q2.1)


Materials (Q2.3)


Course satisfied (Q2.4)


Integration (Q2.6)


Contact (Q2.7)


Feedback (Q2.8)


Recommend (Q2.9)