LAC3001 : Financial Accounting
- Offered for Year: 2018/19
- Module Leader(s): Dr Ekaete Efretuei
- Owning School: Newcastle University Business School
- Teaching Location: London
|Semester 1 Credit Value:||10|
|Semester 2 Credit Value:||10|
1. To provide an overview of the various approaches to accounting theory and to analyse their impact on financial reporting.
2. To frame the modern institution of financial accounting in its historical and environmental context.
3. To provide an in-depth understanding of consolidated accounting.
4. To consider recent developments in financial reporting, especially the work of the IASB.
Outline Of Syllabus
Approaches to accounting theory
The conceptual framework
The regulation of financial accounting
Capital maintenance and price-level adjustments
Critical perspectives on accounting
Extended systems of accounting (social, environmental and sustainability accounting)
Introduction, Cons SofP revision
Cons IS revision: inter-company transactions, Goodwill, non-controlling interests, reserves
Fair value adjustments
Associates and Joint Ventures
Creative accounting and reporting the substance of transactions
|Scheduled Learning And Teaching Activities||Lecture||33||1:00||33:00||N/A|
|Guided Independent Study||Assessment preparation and completion||1||64:00||64:00||N/A|
|Guided Independent Study||Directed research and reading||1||50:00||50:00||N/A|
|Scheduled Learning And Teaching Activities||Small group teaching||3||1:00||3:00||N/A|
|Guided Independent Study||Independent study||1||50:00||50:00||N/A|
Jointly Taught With
Teaching Rationale And Relationship
Lectures introduce the course material to students. Students are given a programme of required reading to supplement the lectures, and are also encouraged to read round the subject as widely as possible. They also receive a programme of seminar work to be completed prior to the seminars. The seminars serve two functions:
1. To consolidate the numerical part of the course material by allowing students to tackle problems in a small group environment, where the seminar leader is on hand to provide explanations and give extra help as required.
2. To encourage discussion of issues in normative and positive accounting theory. Students are required to discuss these issues in small teams and to present their findings to the rest of the class, thus developing oral communication skills. The programme of seminar work helps students to develop problem-solving, numeracy and written communication skills.
The format of resits will be determined by the Board of Examiners
|Module Code||Module Title||Semester||Comment|
|ACC3001||Financial Accounting||1||Newcastle parent module|
Assessment Rationale And Relationship
The formal examination tests students' intended knowledge and skills outcomes, in particular their ability to write succinct essays and solve numerical problems.