SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N422760
Module Leader Alison Lehane
School Glasgow School for Business and Society
Subject Finance and Accounting
  • A (September start)

Pre-Requisite Knowledge

Financial Accounting or equivalent

Summary of Content

The emphasis in this module is on the understanding and application of the international requirements for financial reporting including knowledge of underlying principles and concepts. The conceptual framework is applied in the preparation and evaluation of information in individual and group financial reports, using international accounting standards.


The regulatory framework - Legislation and the legal framework - Accounting standards and generally accepted principles - Stock Exchange and other requirements Published accounts - Legal requirements relating to preparation of published accounts for limited companies - Meaning of true and fair - Accounting policies - Operating and Financial Review - Preparation of statement of financial position, statement of changes in equity and income statement for limited companies Statement of Cash Flows - Preparation and analysis Accounting standards - Development of international standards - Conceptual framework - Standards for non-current tangible and intangible assets, current assets, provisions and contingencies, PBSE and OBSF Group accounts - Reporting requirements - Underlying principles of full consolidation - Subsidiary undertakings - Preparation of group accounts, including accounting for goodwill, pre and post acquisition reserves, intercompany transactions and unrealised profit. Financial statement analysis - Objectives - Inter and intra company analysis - Internal and external ratios - Profitability, efficiency, liquidity and gearing ratios. - Limitations and weaknesses of ratio analysis

Learning Outcomes

On successful completion of this module, the student should be able to:Analyse, interpret and evaluate financial statement informationAccess, analyse and present material from academic journals dealing with financial reporting issues

Teaching / Learning Strategy

The material covered in both lectures and seminars includes a computational element and an analytical and discursive element. Topics will be introduced in lectures; the work for seminars is designed to provide opportunities for applying and developing practical skills and a forum for discussion of international financial reporting issues. For seminars students will be required to work both independently and in groups . GCU Learn is used to support learning activities . GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

-567 Books and articles: Bebbington, J., Gray, R. & Laughlin, R. 2011, Financial accounting: practice and principles / Jan Bebbington, Rob Gray, Richard Laughlin, South-Western/Cengage. Davies, T., Crawford, I.P., PDA Dawsonera & PDA Dawsonera LON 2012, Financial accounting: by Tony Davies, Ian Crawford. Financial Times Prentice Hall, Harlow. Collings, S. 2012, IFRS for Dummies, John Wiley & Sons Canada, Limited. Young, S.D. & Cohen, J. 2013, Corporate financial reporting and analysis: a global perspective / S. David Young and Jacob Cohen, Wiley, Hoboken. International financial reporting standards: part A: the conceptual framework and requirements, 2013, IFRS Foundation. Alexander, D., Britton, A. & Jorissen, A. 2011, International financial reporting and analysis: David Alexander, Anne Britton and Ann Jorisse, Cengage Learning, Andover. Mackenzie, B. & Dawsonera 2011, Wiley 2011 interpretation and application of International Financial Reporting Standards: Bruce Mackenzie ... [et al.], Wiley, Hoboken. Elliott, B., Elliott, J., Dawsonera Collections & Dawsonera 2013, Financial accounting and reporting: Barry Elliott and Jamie Elliott. Financial Times Prentice Hall, Harlow

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Analytical and written communication skills .

Module Structure

Activity Total Hours
Assessment (FT) 26.00
Independent Learning (FT) 128.00
Lectures (FT) 24.00
Seminars (FT) 22.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam (Exams Office) 2.00 70.00 35% unseen examination
Course Work 01 1.00 30.00 35% Unseen class test