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Session: 2022/23

Last modified: 06/03/2020 14:08:22

Title of Module: Financial Accounting 2

Code: ACCT08002 SCQF Level: 8
(Scottish Credit and Qualifications Framework)
Credit Points: 20 ECTS: 10
(European Credit Transfer Scheme)
School:School of Business & Creative Industries
Module Co-ordinator:Patricia  Connelly

Summary of Module

This module, which requires prior knowledge of bookkeeping and accounting, provides you with a greater understanding of the accounting standards setting process and its application to the preparation of financial statements.

In undertaking this module, you will develop an understanding and application of:

regulatory framework for financial reporting; the standard setting process; the preparation of basic financial statements; the reporting requirements for published accounts;; the impact of international accounting standards; analysing and interpreting financial statements.

Your lecturers bring their professional practical experience and scholarship to the module to enhance your understanding of the practical and theoretical aspects of the topic.

This module is suitable for delivery overseas.

Module Delivery Method
Face-To-FaceBlendedFully OnlineHybridCHybridOWork-based Learning
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Term used to describe the traditional classroom environment where the students and the lecturer meet synchronously in the same room for the whole provision.

A mode of delivery of a module or a programme that involves online and face-to-face delivery of learning, teaching and assessment activities, student support and feedback. A programme may be considered “blended” if it includes a combination of face-to-face, online and blended modules. If an online programme has any compulsory face-to-face and campus elements it must be described as blended with clearly articulated delivery information to manage student expectations

Fully Online
Instruction that is solely delivered by web-based or internet-based technologies. This term is used to describe the previously used terms distance learning and e learning.

Online with mandatory face-to-face learning on Campus

Online with optional face-to-face learning on Campus

Work-based Learning
Learning activities where the main location for the learning experience is in the workplace.

Campus(es) for Module Delivery
The module will normally be offered on the following campuses / or by Distance/Online Learning: (Provided viable student numbers permit)
Paisley:Ayr:Dumfries:Lanarkshire:London:Distance/Online Learning:Other:
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Term(s) for Module Delivery
(Provided viable student numbers permit).
Term 1check markTerm 2


Term 3


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Learning Outcomes: (maximum of 5 statements)

On successful completion of this module the student will be able to:

L1. Recognise and apply appropriate Accounting Standards within the context of a regulatory framework;

L2. Prepare financial statements in a format suitable for publishing

Employability Skills and Personal Development Planning (PDP) Skills
SCQF Headings During completion of this module, there will be an opportunity to achieve core skills in:
Knowledge and Understanding (K and U) SCQF Level 8.

Accounts preparation (broad knowledge), the application of IFRSs to published accounts (detailed knowledge); evaluating the limitations of regulatory frameworks (critical analysis). Interpreting financial statements ( critical analysis)

Practice: Applied Knowledge and Understanding SCQF Level 8.

Applying generally accepted accounting practices to financial statements prepared for publication; applying appropriate accounting standards to more complex situations

Generic Cognitive skills SCQF Level 8.

A critical evaluation of the regulatory frameworks (legal, professional, Stock Exchange etc.) for accounting; evaluating the role of monitoring bodies; identifying and analysing accounting principles and concepts underpinning accounting standards in more complex situations.

Communication, ICT and Numeracy Skills SCQF Level 8.

Routine numerical skills in accounts preparation; ability to communicate (verbally/ in writing) complex issues of concepts and principle in relation to accounting standards.

Autonomy, Accountability and Working with others SCQF Level 8.

Working independently and in study groups; carrying out independent research and information gathering

Pre-requisites: Before undertaking this module the student should have undertaken the following:
Module Code:
Module Title:
Financial Accounting 1
Other:HNC Accounting
Co-requisitesModule Code:
Module Title:

* Indicates that module descriptor is not published.

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Learning and Teaching
This module uses both lectures and tutorials to provide you with information on how the International Accounting Standards are applied in the preparation of financial statements of public and private companies.
Powerpoint presentations are used in the lectures, these cover chapters of the prescribed text, the tutorials consist of realistic examples, which you are required to work through in the class. Support for this is provided by the provision of a dedicated website (within the University’s Virtual Learning Environment), where the class notes, both your copy for coming to the class (without answers) and the lecturer’s copy after the class (with answers) are made available as are all the tutorial questions and answers.
A class test and formal examination are used to assess the knowledge and understanding but also to ensure that you are able to analyse issues relating to financial statement preparation and interpretation
Learning Activities
During completion of this module, the learning activities undertaken to achieve the module learning outcomes are stated below:
Student Learning Hours
(Normally totalling 200 hours):
(Note: Learning hours include both contact hours and hours spent on other learning activities)
Lecture/Core Content Delivery24
Tutorial/Synchronous Support Activity12
Independent Study164
200 Hours Total

**Indicative Resources: (eg. Core text, journals, internet access)

The following materials form essential underpinning for the module content and ultimately for the learning outcomes:

ACCA Study Text F3 Financial Accounting BPP Learning Media Ltd

ACCA Study Text F7 Financial Reporting ( INT). (current edition) BPP Learning Media Ltd

Or Text to be advised by lecturer

(**N.B. Although reading lists should include current publications, students are advised (particularly for material marked with an asterisk*) to wait until the start of session for confirmation of the most up-to-date material)

Engagement Requirements

In line with the Academic Engagement Procedure, Students are defined as academically engaged if they are regularly engaged with timetabled teaching sessions, course-related learning resources including those in the Library and on the relevant learning platform, and complete assessments and submit these on time. Please refer to the Academic Engagement Procedure at the following link: Academic engagement procedure

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Supplemental Information

Programme BoardAccounting, Finance and Law
Assessment Results (Pass/Fail) No
Subject PanelAccounting, Finance & Law
ModeratorDr Marie Fletcher
External ExaminerN Sutcliffe
Accreditation DetailsThis module contributes to the exemptions from various professional examinations attributable to the Bachelor of Accounting programme. Contact School for current details.
Version Number


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Assessment: (also refer to Assessment Outcomes Grids below)
Class Test - Note that the pass mark for this element is 40%, but where the overall module mark is 40% or more a mark of 35% or over will be counted as a pass.
Examination - Note that the pass mark for this element is 40%, but where the overall module mark is 40% or more a mark of 35% or over will be counted as a pass.
(N.B. (i) Assessment Outcomes Grids for the module (one for each component) can be found below which clearly demonstrate how the learning outcomes of the module will be assessed.
(ii) An indicative schedule listing approximate times within the academic calendar when assessment is likely to feature will be provided within the Student Handbook.)

Assessment Outcome Grids (Footnote A.)

Component 1
Assessment Type (Footnote B.) Learning Outcome (1) Learning Outcome (2) Weighting (%) of Assessment ElementTimetabled Contact Hours
Class test (written)check markcheck mark301

Component 2
Assessment Type (Footnote B.) Learning Outcome (1) Learning Outcome (2) Weighting (%) of Assessment ElementTimetabled Contact Hours
Unseen closed book (standard)check markcheck mark702
Combined Total For All Components100% 3 hours

A. Referred to within Assessment Section above
B. Identified in the Learning Outcome Section above

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  1. More than one assessment method can be used to assess individual learning outcomes.
  2. Schools are responsible for determining student contact hours. Please refer to University Policy on contact hours (extract contained within section 10 of the Module Descriptor guidance note).
    This will normally be variable across Schools, dependent on Programmes &/or Professional requirements.

Equality and Diversity
In order for you to complete this module an element of ICT work will require to be undertaken as follows:
VLE (Moodle) for lecture notes, tutorial questions, additional study materials;
In addition, the student would normally be required to undertake a two hour, closed book, hand written exam. Where notified, arrangements will be made for facilities and time adjustment as appropriate.

UWS Equality and Diversity Policy
(N.B. Every effort will be made by the University to accommodate any equality and diversity issues brought to the attention of the School)

2014 University of the West of Scotland

University of the West of Scotland is a Registered Scottish Charity.

Charity number SC002520.