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Financial Reporting

Unit code: BMAN10501
Credit Rating: 10
Unit level: Level 1
Teaching period(s): Semester 1
Offered by Alliance Manchester Business School
Available as a free choice unit?: N



Additional Requirements

Only available to students on: BA (Econ) Accounting and/or Finance Specialists, BSc Accounting and IBFE.



This course aims to provide a foundation knowledge and understanding of the principles and practices of financial reporting and of the role of accounting information within its broader economic and organisational context.

 Financial reporting is one means by which an organisation provides information to its participants (e.g. shareholders and other providers of funds, employees, customers, suppliers and government). This course introduces underlying concepts of financial reporting, basic practices involved in the preparation of financial statements and the interpretation of the resulting information. It offers broad coverage of a number of major areas of financial reporting and also provides the basis for related more specialist courses in later years.



The course is concerned with the way in which organisations "account" for their activities to external users of financial reports. As well as offering an understanding of the general role, context and principles of financial reporting, it covers the basic recording of transactions, through to the preparation of income statements, balance sheets and cash flow statements along with some of the associated measurement and disclosure problems. Bookkeeping techniques are taught within the course as a means to understand how the figures in financial reports are derived and thereby to assist with the interpretation of financial reports.

The course material is structured as follows:
TOPIC 1 : The basic framework - an introduction to financial reporting; the importance of choice of accounting method; basic principles and qualities of financial reports.

TOPIC 2: The principles of accounting recording and reporting - how transactions are recorded and the preparation of the basic reporting statements - the balance sheet, income statement and cash flow statement; the accounting equation; double entry bookkeepingand trial balances.

TOPIC 3: Recognition and measurement issues - illustrated with reference to specific areas of accounting: fixed assets; current assets and working capital; the owners’ interest in the business; and funds from long term credit.

TOPIC 4 : Interpretation of Accounts - analysis of financial reports using ratios.

Teaching and learning methods

18 one hour lectures (1 or 2 per week) and 7 one hour workshops over the duration of the course. Plus computer-based exercises.

Total study hours: 100 hours split between lectures, classes, self study and preparation for classes, coursework and examinations.

Informal Contact Methods
1. Office Hours
2. Online Learning Activities (, discussions, self-assessment questions)

Learning outcomes

By the end of the course students should:
• have a foundation understanding of the principles which underpin financial reporting;
• have a foundation understanding of the content, meaning and limitations of financial reports;
• understand and be able to implement the basic recording procedures of financial accounting;
• be able to prepare a simple set of accounts, i.e. income statement (profit and loss account), statement of financial position (balance sheet) and cash flow statement;
• be able to interpret the financial statements of a limited company and speculate why ratios might have moved.

Through taking this course, students should also develop their skills in the following areas:
• the construction, use and evaluation of financial accounting data;
• accessing primary information;
• structuring and presenting ideas;
• the use of information technology;
• numeracy and problem solving;
• communication;
• time management and independent study.

Assessment Further Information

1.5 hour unseen examination (80%) and computer-based assessment (20%).

Recommended reading

The following book is indicative of the type of reading required for this module:

Weetman, P., (2016), Financial Accounting - An Introduction, 7th edition, Prentice Hall International.

Feedback methods

  • Informal advice and discussion during lectures and workshops.
  • Online exercises and quizzes delivered through the Blackboard course space.
  • Responses to questions posted through online discussion forums in Blackboard.
  • Comments on and marks for non-assessed coursework.
  • Generic feedback provided on the on-line assessment
  • Generic feedback posted on Blackboard regarding overall examination performance.

Study hours

  • Assessment written exam - 1.5 hours
  • eAssessment - 0.5 hours
  • Lectures - 18 hours
  • Practical classes & workshops - 7 hours
  • Independent study hours - 73 hours

Teaching staff

William Turley - Unit coordinator

Jennifer Rose - Unit coordinator

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