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Session: 2022/23

Last modified: 08/04/2022 09:53:48

Title of Module: Financial Accounting 3

Code: ACCT09004 SCQF Level: 9
(Scottish Credit and Qualifications Framework)
Credit Points: 20 ECTS: 10
(European Credit Transfer Scheme)
School:School of Business & Creative Industries
Module Co-ordinator:Richard  Kojo  Tawiah

Summary of Module

You will be introduced to the following topics:

Evaluation and definitions of associates and subsidiaries and the relevant international financial reporting standards such as IFRS 10, IFRS 3 and IAS 28. Principles and practice of consolidation including group income statements and statements of financial position.

Detailed analysis and assessment of a selection of International Financial Reporting  Standards, changing from year to year but potentially including IAS 38, 33,36,12,28 and IFRS 15 and IFRS 16

Examination of the nature of equity and profits and distinctions between aspects of recognized, realized and distributable profits.

You will benefit from the professional experience, scholarship and research interests of your lecturers which will help to enhance your knowledge and understanding 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 1


Term 2check markTerm 3


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Learning Outcomes: (maximum of 5 statements)

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

L1. Understand and prepare group accounts with associated consolidation workings.

L2. Understand and apply a selection of International Financial Reporting Standards

L3. Critically analyse and assess a selection of International Financial Reporting Standards and the concept of groups.

L4. Analyse and interpret financial statements especially in the context of accounting for equity, earnings and the calculation of distributable profits.

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 9.

Demonstrate a broad and integrated knowledge and understanding of consolidation and a critical understanding of selected international accounting standards

Practice: Applied Knowledge and Understanding SCQF Level 9.

Applying, interpreting and explaining techniques and practices of group accounts, leases, pensions and other pertinent accounting standards.

Generic Cognitive skills SCQF Level 9.

Undertake critical analysis of relevant international accounting standards.

Communication, ICT and Numeracy Skills SCQF Level 9.

Use a range of advanced skills to produce group financial statements and appropriate lease and pension calculations.

Autonomy, Accountability and Working with others SCQF Level 9.


Pre-requisites: Before undertaking this module the student should have undertaken the following:
Module Code:
Module Title:
Financial Accounting 1
Financial Accounting 2
Other:HND Accounting
Co-requisitesModule Code:
Module Title:

* Indicates that module descriptor is not published.

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Learning and Teaching
This module operates on the basis of a series of lectures and supporting tutorials. Lectures will deliver the conceptual and technical elements of the module and tutorials will enable you to crystalise and deepen their understanding of the conceptual issues or develop their technical skills. The module will be supported by a detailed Moodle site page.
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 F7 Financial Reporting (INT) (current edition) BPP Leaning Media Ltd

Elliot and Elliot, Financial Accounting and Reporting (latest edition), Pearson, Harlow

Alexander, Britton and Jorissen, International Financial Reporting and Analysis(latest edition), Cengage, Andover
International GAAP (current edition)

Directed material including relevant academic literature.

(**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 U/g
ModeratorNasir Kolade
External ExaminerH Chaudhri
Accreditation DetailsThis module contributes to the exemptions from various professional exams attributable to the Bachelor of Accounting Degree. Contact School for current details.
Version Number


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Assessment: (also refer to Assessment Outcomes Grids below)
End of trimester 2 hour closed book examination weighted at 70%. To achieve a pass in this module the aggregate rule requires a mark of 35% or greater
Mid-trimester 1 hour closed book class test weighted at 30%. To achieve a pass in this module the aggregate rule requires a mark of 35% or greater
(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) Learning Outcome (3) Learning Outcome (4) Weighting (%) of Assessment ElementTimetabled Contact Hours
Unseen closed book (standard)check markcheck markcheck markcheck mark702

Component 2
Assessment Type (Footnote B.) Learning Outcome (1) Learning Outcome (2) Learning Outcome (3) Learning Outcome (4) Weighting (%) of Assessment ElementTimetabled Contact Hours
Class test (written)  check mark 301
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
This module is appropriate for any student.
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.