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2019/20 Undergraduate Module Catalogue

LUBS2290 Intermediate Financial Accounting

20 creditsClass Size: 140

Module manager: Alice Shepherd
Email: A.K.Shepherd@leeds.ac.uk

Taught: Semesters 1 & 2 View Timetable

Year running 2019/20

Pre-requisites

LUBS1915Introduction to Financial Accounting

This module is mutually exclusive with

LUBS2035Finance for Small Business
LUBS2291Financial Accounting and Reporting

This module is not approved as a discovery module

Module summary

This module covers the financial accounting and reporting required of companies following the International Accounting Standards in the UK. It covers, in some depth, the technical accounting for a wide range of issues and will enable you to build on existing technical knowledge to a standard that allows you to apply and critically evaluate the rules and principles being applied under IFRS. By the end of this module, you should be able to analyse the majority of aspects in a set of financial statements and be able to critically assess the accounting methods adopted.

Objectives

This module aims to provide students with knowledge of the theoretical underpinnings which drive the current regulations and corporate guidance for UK companies.

Learning outcomes
Upon completion of this module students will be able to:
- Explain why there is a need for regulation and standards in financial reporting and the problems caused by necessary flexibility for accounting standards and be able to identify and analyse the effects of creative accounting
- Evaluate the purpose, form and requirements of accounting standards covering a variety of aspects of financial reporting, such as tangible and intangible assets, taxation, group accounts and business combinations
- Recognise the difference between accounting for profit and accounting for cash

Skills outcomes
Upon completion of this module students will be able to:
Transferable
- Competently apply numerical and statistical skills to manipulate and interrogate financial and other numerical data using current communication and information technology
- Extract relevant information from structured scenarios and data in order to identify problems and define solutions

Subject Specific
- Apply technical knowledge to a variety of scenarios to calculate numerical results to enable further analysis and interrogation
- Structure, analyse, interrogate and communicate information


Syllabus

Indicative content
Introduction to the regulation of accounting and international financial reporting standards
Form and content of published accounting statements: Income Statement, Statement of Financial Position, Statement of Cashflows, other legal requirements
Specific international accounting standards: such as property, plant and equipment, intangible assets, taxation, accounting for business combinations
Interpretation of financial statements
Current developments

Teaching methods

Delivery typeNumberLength hoursStudent hours
Lecture212.0042.00
Seminar101.0010.00
Private study hours148.00
Total Contact hours52.00
Total hours (100hr per 10 credits)200.00

Opportunities for Formative Feedback

The following methods of formative feedback are used on this module:
- Model answers and marking schemes for workshop and sample examination papers against which students can assess their own performance.
- Feedback in seminars on narrative and numerical work.
- Feedback in consultation hours from module tutors on all aspects of module content.

Methods of assessment


Exams
Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)3 hr 00 mins100.00
Total percentage (Assessment Exams)100.00

The resit for this module will be 100% by 3 hour examination.

Reading list

The reading list is available from the Library website

Last updated: 09/09/2019

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