AC102      Half Unit
Elements of Financial Accounting

This information is for the 2022/23 session.

Teacher responsible

Dr Gulnaz Khamidullina MAR 3.14


This course is available on the BSc in Actuarial Science, BSc in Business Mathematics and Statistics, BSc in Finance, BSc in Management and BSc in Mathematics, Statistics and Business. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.

Course content

This is a half-unit course that introduces students to fundamental principles of financial accounting for the purposes of external reporting. The course starts with a discussion of the framework of financial accounting: its nature, intents and purposes, and the context and environment in which it operates. This includes, and eventually entails, the need for, and various sources of, accounting regulation and accounting standards. AC102 unpacks various core financial accounting concepts and conventions, but the course also looks into the processes used to record, summarise, and present financial accounting information as well as, crucially, its interpretation. This course thus essentially focuses on the preparation, interpretation, and limitations of company financial statements for external reporting, and the regulatory framework in which financial reports are prepared.


20 hours of lectures and 10 hours of classes in the MT. 2 hours of lectures and 1 hour of classes in the ST.


Formative coursework

Written answers to numerical problems and discussion questions will be expected weekly. The course also involves two formative assessments.

Indicative reading

Detailed reading lists will be made available at the beginning of the course. Illustrative texts include Peter Atrill and Eddie McLaney Financial Accounting for Decision Makers, 9th ed, Pearson, 2019.


Exam (100%, duration: 1 hour and 30 minutes, reading time: 15 minutes) in the summer exam period.

The exam duration is 1 hour and 45 minutes. The first 15 minutes will be reading time.

Student performance results

(2019/20 - 2021/22 combined)

Classification % of students
First 66.2
2:1 16.3
2:2 8.4
Third 5.5
Fail 3.5

Key facts

Department: Accounting

Total students 2021/22: 547

Average class size 2021/22: 15

Capped 2021/22: No

Lecture capture used 2021/22: Yes (MT)

Value: Half Unit

Guidelines for interpreting course guide information

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.

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills