Teesside University Business School

Financial Accounting
In-course assessment 2014-15(Weighting 50%)

Accountancy is the art of communicating financial information about a business entity to users
such as shareholders and managers. The communication is generally in the form of financial
statements that show in money terms the economic resources under the control of management.
The art lies in selecting the information that is relevant to the user and is reliable.
- Elliott and Elliott (2010) Financial Accounting and Reporting,14th edition, Prentice Hall.

You are required to write, and present, an essay(2000 words) evaluating the extent
to which you think financial statements yield information that is useful (ASB
Statement of Principles 1999 chapter 3).You should carry out your evaluation by
focusing upon one specific aspect of reporting, from the following list:
1. Regulatory framework
Examine whether the existence of a regulatory framework enhances the
usefulness of financial statements?
2. Conceptual framework.
Evaluate the contribution that aconceptual framework can maketo enhance the
benefit to users of financial statements
3. Corporate governance.
Examine how corporate governance contributes to the usefulness of accounting
information.
4. Corporate social reporting.
Examine why and how organizations meet the need to provide information
which extends beyond that traditionally contained within financial statements
5. Public Sector.
Consider the need for public sector organizations to produce information.
Should they be treated differently?
The evaluation should:

demonstrate a depth of knowledge of the topic area, supported by evidence of

extensive and relevant reading.
show a critical understanding of the topic.
demonstrate an ability to apply the theory by considering its use in practice (e.g. a
case companys report), and an awareness of topical and other significant
developments
contain a conclusion that is logically derived and cohesive.

This assignment addresses the following learning outcomes:

Knowledge & Understanding
1. apply appropriate knowledge to a range of activities
2. critically analyse a variety of ideas, contexts and frameworks associated with
accounting
FA Assessment 1 2014-15

3. demonstrate a knowledge of accounting conventions

4. apply research skills to accounting situations
Cognitive & Intellectual Skills
6. apply balanced, logical and supported arguments in a range of contexts.
Practical/Professional Skills
7. act with increasing autonomy
Key Transferable Skills
8. develop a range of communication techniques
Weightings
Essay:90% weighting
Marks will be allocatedon the following basis:
Criterion
Definition of topic / objectives / scope
Literature review / knowledge and understanding
Conceptual and practical discussion
Conclusion: a clear opinion logically derived
Presentation: appearance, structure and use of English, bibliography and

%
10
30
30
10
10

references in Harvard style

You are strongly advised to refer to the TUBS Referencing Guide
Total

90 %

Wiki:10% weighting
You will gain marks by submitting a brief informal presentation (3/4 pages) to the Wiki by
the due date, and by contributing to Wiki discussions. Your presentation should indicate
your topic area, key headings, key references, and can highlight areas where you are
looking for further information.

FA Assessment 1 2014-15