Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2022-2023 (archived)

Module ACCT2101: Financial Reporting

Department: Accounting

ACCT2101: Financial Reporting

Type Tied Level 2 Credits 20 Availability Available in 2022/23 Module Cap None. Location Durham
Tied to N408
Tied to N409


  • ACCT1061 Financial Accounting


  • None

Excluded Combination of Modules

  • None


  • To enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS). Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios.


  • International accounting and reporting concepts and ethics
  • Single company financial statements
  • Consolidated financial statements

Learning Outcomes

Subject-specific Knowledge:
  • On completion of this module students should:
  • Have an understanding of the contribution and inherent limitations of financial statements
  • Have an understanding of single company financial statements
  • Have an understanding of consolidated financial statements, the different methods of consolidation and the preparation of group accounts
Subject-specific Skills:
  • On completion of this module students should:
  • Be able to apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues
  • Be able to prepare and present financial statements from accounting data for single entities in conformity with IFRS and explain the application of IFRS to specified single entity scenarios
  • Be able to identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS, and explain the application of IFRS to specified group scenarios
  • Be able to describe the principal differences between IFRS and UK GAAP, and prepare simple extracts from financial statements in accordance with UK GAAP, for both single entity and consolidated financial statements
Key Skills:
  • Planning and organisational skills
  • Critical analysis and judgement skills
  • Communication and reporting skills

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Learning will be based on knowledge transfer from workshops, blended learning materials, and independent study; workshop activities and discussions will provide the technical awareness of topics in a comprehensive form.
  • The formative assessment will provide feedback to students regarding their understanding of financial reporting treatments and concepts.
  • The summative examination addresses students’ understanding of the main financial reporting concepts and technical treatments.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Workshops 20 2 per week 2 hours 40
Preparation, Reading and Independent Study 160
Total 200

Summative Assessment

Component: Examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Written examination 3 hours 100% Same

Formative Assessment:

Mock exam

Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University