MMM063-International Financial Reporting 2

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites:
Co-requisites: MMM062 International Financial Reporting 1
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Renata Stenka

Type of module:

Summary module description:

This module develops further students’ knowledge and understanding of international financial reporting and the relevant regulatory and institutional framework of financial accounting. It also covers performative aspects of financial disclosure. 


This module aims to develop further students’ critical knowledge and understanding of decision-useful stakeholder-related financial reporting by considering further examples of the financial reporting principles and methods that underlie the preparation of financial reports in an international context. It also aims to place accounting in a broader social and institutional context. 

Assessable learning outcomes:

By the end of the module is it expected that the student will be able to: 

  1. Understand and apply relevant international accounting standards with regards to more complex transactions

  2. Appreciate and understand the broader political, institutional, and social context of financial reporting 

  3. Knowledge and understanding of the controversies surrounding recent financial reporting developments 

  4. Appreciation of the inherent subjectivity of financial disclosure.     


Intended learning outcomes: 

  1. Discuss the development of a number of international financial reporting standards that cause controversy. 

  2. Describe, apply, and critically evaluate the contents of such standards 

  3. Critically evaluate various academic arguments relating to the content of accounting standards and the politics of accounting standard setting process 

  4. Analyse, summarise and synthesise selected relevant academic and professional literature. 

  5. Critically evaluate and challenge established dogmas in the relevant body of knowledge.

Additional outcomes:

The module also aims to encourage the development of oral communication skills, and the students’ effectiveness in group situations. Structured activities are designed to develop independent learning skills. Students are encouraged to develop additional IT skills by use of relevant web resources and communication techniques, including Blackboard. 

Outline content:

Outline content:

  1. Further aspects of accounting for assets and liabilities

  2. Prepare and critique group accounting (including subsidiaries, associates and joint ventures)

  3. Appreciate the inherent subjectivity and thus performativity of financial disclosure

  4. Understand the institutional and political context of accounting regulations

  5. Recognize and appreciate implications of rhetoric in accounting regulatory field  

  6. Appreciate the social and environmental impact of business activities and its implications for financial reporting

  7. Identify and critically analyse creative accounting manoeuvres

  8. Evaluate recent financial reporting innovations including integrated reports and sustainability reporting 


Global context:

Focus on global financial accounting and reporting regulations and institutional developments.  

Contributions from the international academic and professional speakers.

Brief description of teaching and learning methods:

Lectures will be used for the exposition of the major concepts, principles, and techniques under consideration. Workshops will be used for case studies, practical applications and student-led presentations or discussions. The input from external speaker(s) will provide international and interdisciplinary context to the module delivery. 

Contact hours:
  Autumn Spring Summer
Lectures 22
Tutorials 16
Guided independent study:      
    Wider reading (independent) 43
    Wider reading (directed) 12
    Exam revision/preparation 10
    Preparation for tutorials 20
    Completion of formative assessment tasks 5
    Revision and preparation 12 56
    Reflection 4
Total hours by term 0 144 56
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 80
Class test administered by School 20

Summative assessment- Examinations:

One 2 hour closed book unseen written exam in the Summer term. 

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

One 1h mid-term test in the spring term in week 27. 

Formative assessment methods:

Group work based on real life accounting practice case studies.

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Assessment requirements for a pass:

A weighted average mark of coursework and examination of 50%. 

Reassessment arrangements:

By examination only (one 2-hour unseen written paper) in August/September. MCQ will not be included in the re-assessment. 

Additional Costs (specified where applicable):



  1. Required text books - Elliot, B. and Elliot, J. Financial Accounting and Reporting 20th Edition, Pearson, 2022

Approx. £50

Last updated: 22 September 2022


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