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Durham University

Postgraduate Module Handbook 2022/2023

Archive Module Description

This page is for the academic year 2021-22. The current handbook year is 2022-23

Department: Accounting

ACCT40315: Financial Accounting and Reporting

Type Tied Level 4 Credits 15 Availability Available in 2021/22
Tied to N3K109 Finance
Tied to N3K209 Finance (Accounting and Finance)
Tied to N3K309 Finance (Corporate and International Finance) (Last intake of students October 2021)
Tied to N3K609 Finance (International Banking and Finance) (Last intake of students October 2021)
Tied to L1T509 Accounting


  • None


  • None

Excluded Combination of Modules

  • None


  • To enable students to:
  • acquire and demonstrate knowledge and understanding of financial accounting and reporting concepts and ethical issues, and the application of International Financial Reporting Standards (IFRS) to particular cases involving single entities or groups;
  • prepare single entity and consolidated financial statements covering a range of International Financial Reporting Standards (IFRS);
  • acquire and demonstrate a knowledge and understanding of accounting-based techniques of financial statement analysis.


  • Introduction to financial accounting;
  • Presentation of financial statements;
  • Ethical duties of accountants;
  • Reporting the financial performance of and position of single entities and groups (IFRS);
  • Application of a select range of IFRS standards to particular cases involving single entities or groups
  • Analysis and interpretation of financial statements
  • Differences in international financial reporting

Learning Outcomes

Subject-specific Knowledge:
  • By the end of this module students should be able to:
  • explain the purpose and limitations of financial statements with reference to the International Accounting Standards Board's (IASB) Conceptual Framework for Financial Reporting;
  • identify relevant professional ethical issues;
  • prepare and present financial statements from accounting data for single and group entities in conformance with IFRS, and explain the application of IFRS standards in particular cases;
  • prepare and present analysis and interpretation of financial statements employing accounting-based techniques;
  • appreciate the differences and similarities in international financial reporting.
Subject-specific Skills:
  • By the end of this module students should:
  • have practised problem-solving and analytical skills in the financial accounting and reporting context.
Key Skills:
  • written communication;
  • planning, organising and time management;
  • problem solving and analysis;
  • using initiative;
  • numeracy;
  • computer literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • A combination of lectures, seminars and guided reading will contribute to achieving the aims and learning outcomes of this module.
  • The summative examination will test students' knowledge and understanding of the subject-matter, their critical judgement and problem-solving skills.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Introduction to Accounting Lectures Online 6 3 per week 2 hours 12
Financial Reporting Lectures 10 1 per week 2 hours 20
Seminars 4 1 per fortnight 1 hour 4
Preparation & Reading 114
Total 150

Summative Assessment

Component: Written examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Written examination 2 hours 100% Same

Formative Assessment:

Online test. Additional formative assessment, and feedback, may take a number of forms such as oral feedback on work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on discussion boards.

Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University