THE UNIVERSITY OF BRISTOL
EFIM20007: Financial Accounting 
Final Examination Guide and Notes 2024 
 
Part 01. About This Guide
Part 02. Sample Final Examination Paper
Part 03. Suggested Solutions to Final Exam Paper
Part 04. Final Examination - Hints and Tips
 
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University of Bristol

EFIM20007: Financial Accounting (Solutions) - University of Bristol

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ACADEMIC YEAR 2023 - 2024

University	University of Bristol
School	Accounting and Finance
Study Level	Undergraduate
Unit Name	Financial Accounting
Unit Code	EFIM20007
Notes Title	Final Examination Guide and Notes
Page Length	37

This guide allows you to understand how the EFIM20007: Financial Accounting, University of Bristol - Final Examination 2024 will be assessed, structured and the likely style and range of questions that would be asked. This self-study set has been thoroughly updated to cover all the examinable topics contained in the latest edition of the exam. It contains sample exam questions complete with a detailed answer guide to help you with question style and identify priority topics to review as you prepare for the exam. It also offers vital information on exam format, what will be on the exam and key concepts you should be focusing your studies on.

This unit - EFIM20007: Financial Accounting - aims to equip participants with a good understanding of the principles and techniques of Financial Reporting, Income Concepts (Valuation) and Auditing, providing a useful and interesting foundation for future studies.

Main topics to be covered:

Financial Reporting:
- Understand and evaluate international financial reporting principles, including those from the International Accounting Standards Board.
- Apply and assess current and proposed international financial reporting standards to various topics like Leases, Provisions, and Intangible assets.
Income Concepts:
- Recall J.R.Hicks' definition of income.
- Calculate income and windfall gains under different income concepts.
- Explain alternative capital maintenance concepts and valuation bases.
Auditing:
- Understand the nature, purpose, and output of audits.
- Know the eligibility and rules for auditors.
- Select appropriate audit opinions and devise effective audit tests using a risk-based.

UNIT CODE	UNIT NAME
ACCG10052	Introduction to Accounting
ACCG20011	Management Accounting
EFIM01000	Foundations of Finance and Economics
EFIM10005	Fundamentals of Accounting and Finance 1
EFIM10006	Fundamentals of Accounting and Finance 2
EFIM10010	Economic Principles
EFIM10014	Quantitative Analysis in Management
EFIM10024	Probability, Statistics and Econometrics
EFIM10027	Economics 2
EFIM10030	Accounting and Finance for Managers
EFIM10050	Principles of Economics
EFIM20007	Financial Accounting
EFIM20011	Econometrics 1
EFIM20033	Intermediate Microeconomics
EFIM20036	Econometrics 2
EFIM20044	Principles of Finance
EFIM30006	Applied Econometrics (QM4)
EFIM30019	Financial Markets
EFIM30021	Portfolio Management
EFIM30028	Derivatives
EFIM30033	Advanced Financial Reporting

EFIM20007: Financial Accounting (Solutions) - University of Bristol

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