ACC2066 : Financial Accounting for Business

Semester 1 Credit Value: 10
Semester 2 Credit Value: 5
ECTS Credits: 8.0


1. To introduce the IASB Framework in Accounting
2. To examine current financial reporting practice and how it impacts upon companies
3. To enable students to further develop accounts preparation and interpretation skills
4. To provide an introduction to consolidated accounts

This is an intermediate financial accounting module where accounts for a range of business transactions will be considered, including accounting for leasing; tangible and intangible non-current assets with revaluation issues; provisions, contingent liabilities and contingent assets; accounting for foreign currency translation and consolidation of companies with reference to international accounting standards. We shall examine the regulatory and IASB frameworks governing the production of financial statements and how these interact with International Accounting Standards.

Outline Of Syllabus

1. IASB Framework in Accounting
2. Financial accounting and reporting concepts
3. Preparation of (single) company financial statements
4. Introduction to consolidated accounts

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion381:0038:00N/A
Scheduled Learning And Teaching ActivitiesLecture262:0052:00N/A
Guided Independent StudyDirected research and reading301:0030:00N/A
Guided Independent StudyIndependent study301:0030:00N/A
Teaching Rationale And Relationship

The syllabus requires students to master a wide range of accounting principles, rules and techniques, and then to apply them to given accounting scenarios. Helping students acquire this competence is best achieved by examples, supported by significant reading and practice as private study. Progress tests and practice questions will help students to structure their studies and provide formative feedback on progress.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination601A30Organised in-house by NUBS in BAF Assessment Period
Written Examination1202A70Organised in-house by NUBS in BAF Assessment Period
Formative Assessments
Description Semester When Set Comment
Written exercise1MProgress Test and feedback
Written Examination2MProgress Test and feedback
Written Examination2MMock exam in same format as unseen written exam with formative feedback.
Written Examination1MMock exam in same format as unseen written exam with formative feedback.
Assessment Rationale And Relationship

1 x 1 hour unseen written examination in the December of Stage Two and 1 x 2 hour unseen written examination at the end of Semester Two are required to ensure students are prepared for stage 3 professional exam requirements. It is also an appropriate way of assessing knowledge and application of basic principles.

Reading Lists