Advanced Financial Reporting

Module description


The aim of the module is to enhance your knowledge of the theory and practice of financial reporting and analysis.  To this end, the module will cover advanced financial reporting topics such as: accounting for changing price levels, financial instruments, employee benefits, various types of business combinations e.g. subsidiaries, associates, joint arrangements, indirect holdings and acquisitions-in-stages), and theories of accounting regulations and policy choice.  In addition, the module will also cover practical financial analysis techniques that allow students to analyse and interpret financial statements.

Additional Information:


Internationalisation is embedded in the content of this module through the use of the International Financial Reporting Standards (IFRSs).  Moreover, the principles of financial reporting and analysis are broadly common across most countries.


All of the resources for the module are available on the ELE (Exeter Learning Environment).

External engagement

The module content meets the standards of the professional accountancy bodies (e.g. ICAEW, ACCA, ICAS and CIMA) and the module is accredited by them.


Material taught in this module is highly relevant to accounting- and business-related jobs. The module also offers an opportunity for students to develop their numeracy and logical thinking skills.

Research in teaching 

The module is informed by the module convenor’s research interest in financial reporting.  

Full module specification

Module title:Advanced Financial Reporting
Module code:BEA3020
Module level:3
Academic year:2019/0
Module lecturers:
  • Dr Chen Lim - Convenor
Module credit:15
ECTS value:



BEA2019 and BEA2020 (BEA2001)



Duration of module: Duration (weeks) - term 2:


Module aims

This module follows on from the second year Financial Accounting modules, study of which is a prerequisite for entry to this module.  This module has three aims:

(1)  to  develop students’ knowledge and skills in applying accounting standards and the theoretical framework in: the preparation of financial statements for groups of entities; the accounting of financial instruments and retirement benefits; and the use of and problems with various income measurement and assets valuation bases.

(2)  to provide students with an understanding of the economics and politics behind accounting standards setting and the accounting policy choice made by companies; and

(3)  to advance students’ knowledge and skills in how to analyse and interpret financial statements.

ILO: Module-specific skills

  • 1. prepare and present financial statements which conform with international accounting standards
  • 2. account for changing price levels, financial instruments and employee benefits in accordance with international accounting standards, and evaluate these standards.
  • 3. account for various business combinations in accordance with international accounting standards
  • 4. compare and evaluate the various methods of accounts consolidation.
  • 5. explain and discuss the accounting policy choice of companies and the current state of accounting regulation from the theoretical perspectives of economics and politics.
  • 6. analyse and interpret financial statements using contextual information.
  • 7. discuss and appraise the utility and limitation of financial statement analysis.

ILO: Discipline-specific skills

  • 8. analyse and draw reasoned conclusions concerning structured problems from a given set of data
  • 9. apply logical thinking and numeracy skills to problems by using appropriate accounting and finance techniques
  • 10. critically evaluate arguments and evidence

ILO: Personal and key skills

  • 10. manage their own learning experience individually
  • 11. use appropriate learning resources
  • 12. present material effectively in written form

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Contact hours21Lectures
Contact hours10Tutorials
Contact hours11Scheduled help hours/additional lectures
Guided independent study108Reading and preparation for tutorials and assessments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Weekly tutorial problems for discussion 3 hrs preparation by student / 1 hr in-class discussion1-13In class

Summative assessment (% of credit)

CourseworkWritten examsPractical exams

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
In-term test201 hour1-11Suggested solutions on ELE
Examination802 hours1-12Suggested solutions on ELE

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
In-term test and 2-hr written examination2 hour written examination1-12August examination period

Re-assessment notes

Students who fail the module overall will be reassessed by way of a two-hour written examination in the summer of the respective academic year.

Syllabus plan

  • Accounting for changing price levels
  • Accounting for financial instruments
  • Accounting for employee benefits (pensions and share-based payments)
  • Group accounts – Accounting for business combinations I
  • Group accounts – Accounting for business combinations II
  • Group accounts – Associates and Joint arrangements
  • Group accounts – Indirect holdings and acquisitions-in-stages
  • Group accounts – Statement of cash flows
  • Economics and politics of accounting regulations and policy choice
  • Analysis and interpretation of financial statements 

Indicative learning resources - Basic reading

Basic reading:  One of the following:

  • Alexander, D., Britton, A., Jorissen, A., Hoogendoorn, M. and Van Mourik, C. (2017) International Financial Reporting and Analysis. 7th ed. London: Cengage Learning.
  • Dunn, J. and Stewart, M. (2014) Advanced Financial Reporting and Analysis.  Chichester: Wiley International.

Module has an active ELE page?


Indicative learning resources - Web based and electronic resources


Indicative learning resources - Other resources

Additional reading list (e.g. academic journal articles, etc.) will be provided at the end of every lecture.

Origin date


Last revision date