This involves a sound understanding of the concepts and choices that underlie how financial information is measured and disclosed in the financial statements.
Prerequisite / Exemptions
If taken as part of a BSc degree, the following course must be passed before this course may be attempted:
- AC1025 Principles of accounting
- Rationale for financial reporting and its regulation
- Conceptual framework
- Preparation of financial statements (Comprehensive income, changes in equity and financial position)
- Ethics for accountants
- Share capital
- Provisions, liabilities, including contingent liabilities
- Accounting for changing prices: Fair value and other accounting systems of price adjustments
- Employee benefits
- Income and deferred taxation
- Property, Plant and Equipment (includes investment properties)
- Intangible assets
- Construction contracts
- Financial instruments (excluding hedge accounting)
- Consolidated Accounts: At date of acquisition
- Consolidated Accounts: After date of acquisition
- Consolidated Accounts: Income statement, changes in equity and cash flows
- Consolidated Accounts: Associates and other joint arrangements
- Foreign currency translation and consolidation of foreign subsidiaries
- Analysis and interpretation of financial reports
If you complete the course successfully, you should be able to:
- explain and apply a number of theoretical approaches to financial accounting
- record and analyse data
- prepare financial statements under alternative accounting conventions
- describe a number of regulatory issues relating to financial accounting
- critically evaluate theories and practices of, and other matters relating to, financial accounting.
Unseen written exam (3 hrs 15, including reading time).
- Alexander, D., A. Britton and A. Jorissen. International Financial Reporting and Analysis. London: Thomson Learning, 2014. sixth edition [ISBN 9781408088449]
Course information sheets
Download the course information sheets from the LSE website.