Course Catalogue

Advanced Financial Accounting ACCFIN4007

  • Academic Session: 2026-27
  • School: Adam Smith Business School
  • Credits: 20
  • Level: Level 4 (SCQF level 10)
  • Typically Offered: Semester 1
  • Available to Visiting Students: Yes
  • Collaborative Online International Learning: No
  • Curriculum For Life: No

Short Description

This course covers financial accounting practice for a selection of current and complex topics. Both the accounting practice is explained, and the implication of the relevant accounting standard is critically appraised, with a view to developing thorough knowledge and critical understanding of applicable accounting principles, concepts, and regulations.

Timetable

Lectures: 10 x 2-hour lecture

Tutorials: 10 x 1-hour tutorial

Requirements of Entry

Normally a grade D3 or above in Financial Accounting 2 or suitable equivalent.

Excluded Courses

None

Co-requisites

None

Assessment

1. In-course exam: online; Individual; 60 minutes; 25%; ILOs 1, 3.

2. Degree exam: in-person; Individual; 120 minutes; 75%; ILOs 1-4.

Main Assessment In: December

Course Aims

This course builds upon Financial Accounting 2. It aims to critically examine current financial accounting theory and practice for a selection of advanced topics, many of which are subject to current debate and review by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) in the US. The course seeks to develop a thorough knowledge and understanding of the accounting principles, concepts, regulations and practices, applicable to selected topics. An important aim of the course is to develop skills of critical analysis through the study of relevant research papers on financial accounting topics.

Intended Learning Outcomes of Course

By the end of this course students should be able to:

 

1. Explain the financial reporting requirements for a range of current accounting issues.
2. Solve relatively complex problems of financial accounting practice, by the selection and application of appropriate accounting principles, concepts, and practices.
3. Interpret financial statement information identifying critical issues, numbers and underlying assumptions.
4. Critically evaluate the ongoing debates and differences of opinion in relation to current accounting practices.

Minimum Requirement for Award of Credits

No exceptions