Financial Accounting B

Module description

This module builds on the foundations laid down in prerequisite modules BEA1008 Introduction to Financial Accounting and BEA2019 Financial Accounting A

This module aims to provide students with a solid foundation in accounting theory and practice of consolidated financial reporting. The module is distinctive because it examines accounting theory and regulation through a critical lens. Students will develop skills that enable them to critically reflect and appraise overlapping financial reporting topics, review the merits and demerits of extant accounting standards and financial reporting practice and to appraise how financial accounting could be improved moving forwards. Students will be exposed to the theories and concepts underlying financial reporting including regulation, income measurement, earnings management, impression management, creative accounting, fraud and value relevance. Students will also develop their financial reporting practical skills including the preparation of basic group accounts and a cash flow statement.

Full module specification

Module title:Financial Accounting B
Module code:BEA2020
Module level:2
Academic year:2019/0
Module lecturers:
  • Professor Kevin McMeeking - Convenor
Module credit:15
ECTS value:



BEA1008 Introduction to Financial Accounting


BEA2019 Financial Accounting A

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


Module aims

Financial accounting issues and concepts will be reviewed and discussed critically and with reference to key academic literature. This module will draw extensively from academic literature. During this semester students are expected to be able to critically reflect and appraise various overlapping theories including income measurement, earnings management, impression management, creative accounting, value relevance and some emerging financial reporting issues. Practical issues addressed include the valuation, recognition and disclosure issues relating to the preparation of basic group (consolidated) statement of financial position and simple (company) cash flow statements. Students will also be afforded the opportunity to work individually and as part of a team, to develop their written and verbal communication skills and undertake presentations that are essential to many business entities in the 21st Century.

ILO: Module-specific skills

  • 1. critically review the issues relating to theories underpinning financial reporting issues
  • 2. critically review the financial reporting regulatory environment and the development of accounting standards.
  • 3. evaluate and critically appraise income measurement, earnings management, creative accounting and ethical issues.
  • 4. critically review value relevance literature.
  • 5. prepare and appraise the statement of cash flows and basic consolidated financial statements.

ILO: Discipline-specific skills

  • 6. critically evaluate theoretical arguments and evidence.
  • 7. analyse and draw reasoned conclusions concerning structured and unstructured problems.

ILO: Personal and key skills

  • 8. develop an ability to locate, extract and analyse data from multiple sources.
  • 9. be able to work individually.
  • 10. demonstrate well-developed written and verbal communication skills.
  • 11. demonstrate well-developed numeracy skills.

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
Scheduled Learning and Teaching Activities20Lectures
Scheduled learning and teaching activities10Tutorials
Scheduled Learning & Teaching activities20Help classes

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Weekly tutorials for discussion1 hour1-11Feedback via ELE

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
Multiple choice test201 hour1-11Suggested solutions on ELE
Examination802 hours1-11Suggested 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
Examination and test2 hour written examination1-11August Examination Period

Re-assessment notes

Reassessment will be by the same form of assessment where possible as specified above.

Syllabus plan

  • Accounting theory
  • Income measurement
  • Revenue / EPS / Earnings management
  • Creative accounting
  • Regulatory framework / Conceptual framework
  • Value relevance
  • Statement of cash flows
  • Consolidation 1 (basics)
  • Consolidation 2 (adjustments)
  • Integrated Reporting
  • Mergers and Acquisitions 

Indicative learning resources - Basic reading

Basic reading:

Reading will be mainly from periodicals that are uploaded to ELE. Students that wish to refer to textbooks might consider:

Deegan, C and Ward, A. (2013) Financial Accounting and Reporting: An international approach, Maidenhead: McGraw-Hill Education

Dunn, Loftus, Picker, Clark, Picker, Kolitz, Livne and van der Tas (2016) Applying International Financial Reporting Standards 4E (4th Ed.)


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Last revision date