This module provides a comprehensive exploration of the conceptual and regulatory framework that underpins modern financial reporting. It introduces students to the purpose and objectives of financial statements, the role of the International Accounting Standards Board (IASB), the IFRS standard-setting process, and key elements of the IASB Conceptual Framework, including qualitative characteristics of useful information, recognition and measurement criteria, and concepts of capital maintenance. Students will develop the ability to prepare and present financial statements in accordance with IAS 1, covering the statement of financial position, statement of comprehensive income, statement of changes in equity, and the supporting notes, alongside the preparation of interim financial reports. The module also builds understanding of accounting policies, changes in estimates and the correction of errors following IAS 8.

A range of key topics related to non-current assets is explored, including property, plant and equipment under IAS 16, borrowing costs under IAS 23, government grants under IAS 20, and investment properties under IAS 40. Students will learn how to classify; measure and present non-current assets held for sale and discontinued operations in accordance with IFRS 5. The treatment of intangible assets and impairment is examined through IAS 38 and IAS 36, including research and development expenditure, goodwill, amortisation and cash-generating unit impairment testing. Additional areas of study include provisions, contingent liabilities and contingent assets under IAS 37, events after the reporting period under IAS 10, and the principles of current and deferred taxation under IAS 12. Contextual knowledge of lease accounting under IAS 17 is also provided, addressing finance leases, operating leases and sale and leaseback transactions.

Technology is integrated throughout the module to reflect contemporary financial reporting practice. Students will work with cloud-based accounting software and advanced spreadsheet tools to prepare internal-use company accounts, automate depreciation and asset registers, model IFRS adjustments and present value calculations, and produce digital-ready financial information. The module also introduces the application of AI in financial processes, along with essential principles of cybersecurity, data governance and digital compliance.

Finally, students will engage with applied case studies requiring the integration of multiple IFRS standards, the demonstration of ethical and professional judgement, and the effective use of digital tools to prepare, analyse and communicate financial information for organisational decision-making.

Reflective Report 30% -– 1,000 words.

You will analyse a business dataset using accounting software, such as QuickBooks, Xero, or Sage, to produce professional financial reports and submit a reflective report on accuracy, clarity, challenges, and ethical considerations. You will also evaluate at least two alternative digital financial software solutions, considering features, usability, limitations, and their role in supporting innovation and informed business decision-making. Assessment focuses on report accuracy, effective software use, quality of reflection, critical evaluation, and professional presentation.

Alternative Formats: A paper-based version can be provided where digital participation is not feasible due to documented needs. Extended time or rest breaks will be granted for students with appropriate learning support plans.

Final Assessment: Written Exam – 70% (2 hours + 10 minutes reading time)

The written examination assesses students’ knowledge and understanding of core accounting principles, their ability to apply IFRS standards and the IASB conceptual framework to practical scenarios, and their competence in critical reasoning, problem-solving, and professional communication. The exam typically includes a combination of short-answer questions, structured problems, and scenario-based tasks requiring the preparation, analysis, and interpretation of financial information in a business context.

The learning strategy for the module requires students to commit 300 learning hours (including assessment), comprising 72 hours of tutor-led Learning and 228 hours of independent and self-directed study.

Concepts, theories and principles will be explored, practised and demonstrated. Practical skills enhanced by recommended videos and talks. LinkedIn Learning will be used to direct self-study learning throughout the study block. Cognitive and personal skills are developed in open-ended problem-solving exercises. Oral feedback will be given during sessions. The assessment will examine the wider learning outcomes expressed in the descriptor.

You will undertake ‘formative’ assessments during the module to help you monitor your Learning and provide you and us with ongoing feedback on your progress, which helps you prepare for the ‘summative assessment(s) during or at the end of the module.

1. Analyse the principles of the conceptual framework and relevant financial reporting standards to the preparation and evaluation of financial statements.

Knowledge & Understanding

2. Apply relevant IFRS standards to measure and interpret transactions and reporting issues, exercising ethical and professional judgement when evaluating real-world scenarios.

Application & Problem-solving

3. Critically evaluate digital financial software solutions to support innovation and informed business decision-making in reporting processes.

Digital Literacy
Personal Development & Entrepreneurship

4. Demonstrate proficiency in using accounting software to analyse financial data and produce professional reports, critically reflecting on the process and ethical considerations.

Communication
Reflection

In this section, you must include reference to any specialist software, equipment, databases or licences as well as access to laboratories, simulation suites, etc.

Microsoft Office
Accounting Software such as: Xero, QuickBooks, and Sage
Padlet and other digital feedback mechanisms
Computer-based quizzes
Blackboard

Aim for a maximum of 5 key texts, published within the last 5 years, where possible.

Melville, A., 2025. International Financial Reporting: A Practical Guide, 9th ed. Pearson, Harlow. ISBN 978‑1‑292‑20074‑3

ACCA, 2025. ACCA Financial Reporting: Study Textbook. Kaplan Publishing, London.

Elliott, J. & Elliott, B., 2024. Financial Accounting and Reporting, 20th ed. Pearson, Harlow.

Romney, M.B., Steinbart, P.J., Summers, S.L. & Wood, D.A., 2024. Accounting Information Systems, 16th ed. Pearson, Harlow.

Unlock the skills to master modern financial reporting with this dynamic module that combines international accounting standards with cutting-edge digital tools. You will learn to prepare, analyse, and present financial statements, apply IFRS to real-world scenarios, and handle assets, liabilities, taxation, and leases with confidence. Through hands-on experience with cloud accounting software, and data analytics, you will develop practical digital skills, critical thinking, and professional judgement, equipping you to make accurate, ethical, and insightful financial decisions in today’s fast-paced business environment.