AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2020/21 session.

Teacher responsible

Prof Ane Miren Tamayo OLD 2.20


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 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 AC416 Topics in Financial Reporting.

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 accounting issues related to intangible assets, equity, debt, intercorporate investments and consolidation. Students are introduced to the basics of 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.

This year, some or all of this teaching may be delivered using virtual classes as an alternative to face-to-face teaching.

There will be a reading week in week 6 of MT.  

Formative coursework

Students are expected to complete a series of accounting exercises.

Indicative reading

A detailed reading list will be made available at the start of the course. Illustrative texts:

Harrison, Horngren, Thomas, Tietz and Suwardy, Financial Accounting (IFRS), 11th ed., Pearson Higher Education/Prentice Hall; Weetman P, Financial Accounting: an Introduction, 8th ed., Pearson Higher Education.


Exam (80%, duration: 2 hours) in the January exam period.
Problem sets (20%) in the MT.

The 20% is based on students completing one problem set rather than multiple problem sets.

Student performance results

(2016/17 - 2018/19 combined)

Classification % of students
Distinction 46.6
Merit 23.8
Pass 15.7
Fail 13.9

Important information in response to COVID-19

Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: Accounting

Total students 2019/20: 67

Average class size 2019/20: 13

Controlled access 2019/20: 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