Advanced Financial Accounting I module (BU30001)

Learn about the practical and theoretical aspects of the application of accounting standards and the preparation of published financial statements.

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Module code


Further develop the knowledge and skills you will have gained in Intermediate Financial Accounting.

Learn about accounting for leases, revenues, and long term contracts, financial instruments, provisions and contingencies, current and deferred tax etc.

Learn how to prepare single entity and group financial statements.

What you will learn

In this module you will:

  • learn about the accounting standards applicable to UK companies
  • discuss related theoretical issues, ongoing debates, current developments, and research
  • prepare single entity and group financial statements and analyse their content

By the end of this module, you will be able to:

  • understand, describe, critically discuss and evaluate extant accounting standards (UK and international) and their underlying theories, concepts, and principles (including disclosure requirements where appropriate)
  • identify, discuss, rationalise and critically evaluate the possible alternative accounting treatments available within the extant accounting standards (UK and international)
  • apply the current requirements, developments, and research in making informed professional judgements and decisions
  • apply the extant accounting standards (UK and international) in preparing and interpreting a set of published financial statements for a single entity or for a group (including disclosure requirements where appropriate)
  • use appropriate resources to seek out information on the latest developments and research in financial reporting and make informed professional judgements and decisions
  • communicate orally and in writing in a clear, concise, and effective manner
  • demonstrate the ability to manage time effectively and work independently and in group

Assignments / assessment

  • Coursework (20%)
  • Final exam (80%)

Teaching methods / timetable

This module will be delivered via on-campus (face-to-face) lecture sessions and tutorials.

Sessions include:

  • two hour lecture weekly
  • one hour tutorial weekly

During certain weeks additional sessions may be arranged to provide additional examples or invite guest lecturers.


This module is available on following courses: