Skip to main content


ACC2005 : Intermediate Financial Accounting

  • Offered for Year: 2019/20
  • Module Leader(s): Miss Melis Besen
  • Lecturer: Mrs Helen Currie, Mrs Gill Holden, Professor Louise Crawford
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0


1. To examine current financial reporting practice and how it impacts upon companies
2. To enable students to develop accounts' preparation and interpretation skills
3. To provide an introduction to auditing
4. To provide an introduction to group accounts
5. To provide an introduction to Corporate Governance

This is an intermediate financial reporting module. Most of the examples relate to companies reporting to shareholders. We shall consider how to account for a range of situations, including accounting for leasing, provisions, contingent liabilities and contingent assets, consolidation of companies with reference to international accounting standards. We shall examine the regulatory and IASB frameworks governing the production of financial statements, including an introduction to auditing practice and Corporate Governance in the UK.

Outline Of Syllabus

1. Introduction to UK Corporate Governance

2. Company Financial Statements

3. The Frameworks of Financial Reporting            

4. Introduction to Auditing      

5. Introduction to Group Accounts

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion164:0064:00N/A
Scheduled Learning And Teaching ActivitiesLecture182:0036:00N/A
Guided Independent StudyDirected research and reading150:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00N/A
Guided Independent StudyIndependent study144:0044:00N/A
Jointly Taught With
Code Title
ACC2025Intermediate Financial Accounting for Erasmus and Study abroad
Teaching Rationale And Relationship

Lectures introduce the course material to students, and concentrate upon some of the more challenging aspects of financial reporting. Students are given a programme of required reading to supplement the lectures and are encouraged to attempt books' questions as well as reading around subjects as widely as possible. The seminars consolidate the course material by allowing students to tackle problems in a small group environment, where the seminar leader is on hand to provide explanations and give extra help as required. Students also receive feedback on their seminar assignments in these sessions that allows them to judge their progress in the module. The seminar assignments help students to develop problem-solving, numeracy and written-communication skills. The seminars are designed to encourage discussion by probing the implications of alternative accounting policy choices and trends in financial reporting. Students are required to come to sessions with their attempts at set questions and then to discuss these issues in small teams, presenting their findings to the rest of the class, thus developing oral-communication skills.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
PC Examination601A25N/A
Written Examination1202A75N/A
Exam Pairings
Module Code Module Title Semester Comment
LAC2005Intermediate Financial Accounting1N/A
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MSeminar questions provided
Prob solv exercises2MSeminar questions provided
Assessment Rationale And Relationship

The formal examinations test the students' intended knowledge and skills outcomes, in particular their ability to write succint essays and solve numerical problems. The Semester 1 examination provides summative feedback to students on their progress.

Reading Lists