Module Content

Accounting Theory: the nature of accounting theory, its history and methodology. 

Income and Value measurement: Further developments of the concepts of income and value and the consideration of in-depth accounting models. 

Further developments of accounting for changing price levels and its incorporation into accounting models. 

Corporate Reporting: the past, present and future process of setting accounting standards and the need or otherwise for a search for a conceptual framework. 

Threat to compliance with the fundamental principles 

The safeguards that may be used to eliminate a threat to a fundamental principle or reduce it to an acceptable level. 

The role of corporate sustainability reporting and key sustainability reporting requirements for businesses. 

Identify the role of regulation, policy and guidelines in sustainability 

Recognise key sustainability regulations and policies applicable to the work of the professional accountant, including corporate reporting. 

The role of the professional accountant in sustainability assurance. 

Challenge to selection, capturing, analysis and use of data and information by professional accountant. 

The objectives use and usefulness of different types of financial statements and their future development.  The impact of these developments on accounting method and disclosure. 

Selective study of particular accounting issues, including the theories, methods and standard setting attempts of such topics as:- 

The Conceptual Framework  

Consolidated financial statements 

IFRSs – theory and application for standards such as: 

• Accounting for goodwill and other intangibles  

• Accounting for fixed assets; impairment of fixed assets 

• Earnings per share 

• Leases 

• Revenue 

• Liabilities, Provisions and contingencies 

• Financial Instruments 

• Foreign Currency 

• Taxation 

• Investment and financing 

• Discontinued Operations 

Accounting for pensions 

Significance of ethics and  consequences of unethical behaviour for the individual, the organisation, the accounting profession and the public 

Corporate Governance 

Corporate Social Responsibility including Environmental Reporting & Social Reporting 

Define accountability, transparency and governance and understand why they are important 

‘Not-for-profit’ Reporting 

Analysis and interpretation of Financial Statements of single and group organisations

Teaching Methods

Material will be introduced in a weekly lecture and followed up by directed reading and discussion. There will also be one group session each week comprising work on case material in seminars. Coursework assignments are designed to promote student-centred learning. As an example, a group of students might be asked to select an accounting topic of their choice, research it, and make a joint presentation. Work by students should include guided reading and problem-solving. Several textbooks are recommended as is additional reading. 

The teaching strategy supports this in introducing in lectures discussion of assumptions and raising questions of applicability and validity. Group sessions not only develop technical problem-solving skills (in areas that are new to the students) but also encourage students to develop their critical skills.  

Students will draw on and enhance graduate attributes of planning, communication, literacy and analysis and develop confidence and expand their intellectual ability through constructing argument and exploring perspectives. This will aid employability with the accounting profession and careers in general business management. Against this background, the assessment criterion is designed to meet the professional exemption criteria. 

Formative feedback on seminar and practice questions is provided to students on a weekly basis, with additional support available in the timetabled Technical Support Workshops. 

Assessment Methods

This module is assessed through a Written Exams (25% and 75%)