2023/24 Undergraduate Module Catalogue

LUBS2290 Intermediate Financial Accounting

20 creditsClass Size: 184

Module manager: Warren Maroun
Email: w.j.maroun@leeds.ac.uk

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2023/24

Pre-requisites

LUBS1915

Introduction to Financial Accounting

This module is mutually exclusive with

LUBS2035	Finance for Small Business
LUBS2291	Financial 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 type	Number	Length hours	Student hours
Lecture	22	2.00	44.00
Seminar	10	1.00	10.00
Private study hours			146.00
Total Contact hours			54.00
Total hours (100hr per 10 credits)			200.00

Private study

This could include a variety of activities, such as reading, watching videos, question practice and exam preparation.

Opportunities for Formative Feedback

Marked assignments in each semester as well as opportunities to obtain formative feedback in seminars and consultation hours.

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	3 hr 00 mins	100.00
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: 11/01/2024

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