Advanced Financial Reporting

Module description


The aim of the module is to enhance your knowledge of the theory and practice of financial reporting. 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.  

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 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:2021/2
Module lecturers:
  • Dr Chen Lim - Convenor
Module credit:15
ECTS value:



BEA2019 and BEA2020



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 of advanced financial reporting issues and their ability to critique current practice.

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.

ILO: Discipline-specific skills

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

ILO: Personal and key skills

  • 9. manage their own learning experience individually
  • 10. use appropriate learning resources
  • 11. 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
Scheduled Learning and Teaching Activity31Lectures (10 weeks x 3 + 1 final lecture)
Scheduled Learning and Teaching Activity10Tutorials (10 weeks x 1)
Guided Independent Study109Reading 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 discussion1-11In 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-class test51 hour1-10Suggested solutions on ELE
Written examination952 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
In class test (20%)In class test (5%) and 2-hour examination (95%) Written examination (100%) [2 hours] 1-11August reassessment period

Re-assessment notes

Only students who fail the whole module will be re-assessed with an individual assignment and/or summer examination, whichever is relevant as above.

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

Indicative learning resources - Basic reading

  • Alexander, D., Jorissen, A., Hoogendoorn, M., Van Mourik, C., & Kirwan, C. (2020). International financial reporting and analysis (8th ed.). Andover: Cengage Learning.
  • Melville, A. (2019). International financial reporting: A practical guide (7th ed.). Harlow: Pearson Education.

Module has an active ELE page?


Indicative learning resources - Web based and electronic resources

ELE – 

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