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Accounting Standards and Theory

Module code: ACFI 2421

Module decription

The module examines the accounting process that results in the preparation and production of accounting reports for external use (annual reports), and a critical evaluation of the impact of (UK and International) financial reporting standards upon these reports, using different accounting treatments for selected items. It will also critically examine the theoretical aspects concerning financial accounting and reporting.

The module will allow participants to be able to identify and critically appraise the theoretical and regulatory framework for financial reporting internationally and in the UK.

The module will also examine the problems of profit measurement (creative accounting), and the effect of alternative approaches to income and asset measurement.

Participants will develop skills to assess accounting information needs and appreciate the ways in which information is accounted for and presented.

Contact hours per student per year

  • Lectures: 22 hours
  • Tutorials: 22 hours


  • Unseen exam (120 minutes): 100%

Additional costs: No extra costs other than purchase of books