AC491      Half Unit
Financial Accounting, Reporting and Disclosure

This information is for the 2021/22 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), 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.

This course has a limited number of places (it is controlled access). In previous years we have been able to provide places for all students that apply but that may not continue to be the case.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 the main  financial statements and discusses accounting issues related to intangible assets, equity, debt, and intercorporate investments, among others. Students are also introduced to the basics of financial statement analysis and to 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 weekly formative assessments.

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.

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Student performance results

(2017/18 - 2019/20 combined)

Classification % of students
Distinction 42.3
Merit 25.4
Pass 18.9
Fail 13.4

Important information in response to COVID-19

Please note that during 2021/22 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 differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching 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 2020/21: 72

Average class size 2020/21: 11

Controlled access 2020/21: 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