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Principles of Financial Reporting


  • Credit value: 15 credits at Level 7
  • Convenor and tutorLibon Fung
  • Assessment: a one-hour in-class test (30%) and two-hour examination (70%)

Module description

This module enables you to understand and interpret the importance of accounting information in decision making for complex entities. In particular, it will:

  • develop an understanding of the theory and practice of accounting
  • critically assess theoretical issues and recent developments in accounting
  • develop communication skills, both oral and written
  • develop skills in summarising and critically assessing professional reports and statements and academic articles.

Learning objectives

By the end of this module, you should be able to:

  • prepare and interpret financial statements for single and group of companies
  • critically assess accounting conventions and their information content including fair value accounting
  • integrate subject matter studied on related modules and demonstrate the multi-disciplinary aspect of practical financial reporting problems
  • use academic theory and research to question established financial reporting standards and theories.