Module code: MAN3081

Module provider

Surrey Business School

Module Leader


Number of Credits


ECTS Credits



FHEQ Level 6

JACs code


Module cap (Maximum number of students)


Module Availability

Semester 1

Overall student workload

Independent Study Hours: 106

Seminar Hours: 22

Tutorial Hours: 22

Assessment pattern

Assessment type Unit of assessment Weighting
Examination 2 HOUR EXAM (CLOSED BOOK) 70
School-timetabled exam/test 1 HOUR CLASS TEST (CLOSED BOOK) 30

Alternative Assessment

Not applicable

Prerequisites / Co-requisites

MAN1061 (Financial Accounting 1), MAN2090 (Financial Accounting 2) and MAN2105 (Introduction to Taxation) are pre-requisites for this module

Module overview

The UK is in the process of moving from domestic accounting rules (UK GAAP), to international accounting rules (international GAAP). Existing UK standards, SSAP’s and FRS’s, are being phased out and replaced with international reporting standards (IFRS’s). As a result of this major transition this course is based on international GAAP which currently just applies to listed companies but will eventually apply to all companies.

Module aims

To provide an understanding of the accounting standard setting process

To provide an introduction to the various regulatory bodies that currently exist and the existing regulatory framework

To introduce the range of international accounting standards currently in issue

To introduce students to key issues in the preparation of group financial statements

To provide an understanding of how the presentation of group financial statements are regulated by companies acts and accounting standards

Learning outcomes

Attributes Developed
1 Prepare consolidated balance sheets for listed companies KCPT
2 Prepare consolidated income statements for listed companies KCPT
3 Apply IFRS's in the preparation of the above financial statements KCPT
4 Critically Evaluate the purpose and objectives of the regulatory bodies and the regulatory framework KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Indicative content includes:

In the preparation of consolidated financial statements:

Wholly and partly owned subsidiaries
Associate companies
Inter- company issues arising on consolidation

Regulatory Framework

Objectives of Regulatory Bodies – International Accounting standards Committee (IASC), International Accounting Standards Board (IASB), International Financial Reporting Interpretation Committee (IFRIC) & The Standards Advisory Council (SAC)
Purpose, scope and current stage of development of the regulatory framework
Aims and objectives of the range of international reporting standards currently in issue.

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

Give students the opportunity to gain an understanding of the relevant legislation and accounting standards in issue and to learn how to apply them in the preparation of consolidated accounts.

The learning and teaching methods include:

Compulsory weekly 2 hour tutorials to illustrate theory and allow students an opportunity to practice the practical application of the theory.
Optional weekly 2 hour drop-in sessions. Where students can raise any issues they have had with the current weeks guided study exercises.
Tutorial Material will be supported by weekly directed reading and weekly guided study exercises
Surreylearn will be used as an information portal containing tutorial slides, tutorial exercises, guided study exercises and model answers.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the legislation, accounting standards and their practical application. Having successfully completed Financial Accounting in levels 4 & 5 students will already be competent in single entity accounts. Throughout this module the accounts will become increasingly complex as more content is introduced. Students will learn, by practical exercises, how to approach these more complex computations in tutorial. Ensuring they are fully prepared for the class test and final examination.

Thus, the summative assessment for this module consists of:

A One Hour Class Test (30%) usually in week 6
A Two Hour Final Examination (70%) during the examination period.

Formative assessment and feedback

The class test will be marked by the Module coordinator, marks are usually returned to the students in the week following the class test. In the week following the class test the module coordinator posts the class test, results and model answers on Surreylearn with general feedback on how the cohort has performed.

The weekly drop-in session is used to provide individual feedback to students. Explaining how they could have moved from the mark attained to 100%. This feedback will help the student prepare for final examination. This feedback is both formative and summative.

Both the class test and final exam have detailed marking schemes that take into account process and ensure consistent marking where there is more than one module tutor.

The tutorial questions, guided study and class tests are mostly pitched at examination level and feedback on these will enable students to assess their learning and prepare for the final exam.

Reading list


Programmes this module appears in

Programme Semester Classification Qualifying conditions
Accounting and Finance BSc (Hons) 1 Compulsory A weighted aggregate mark of 40% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.