UNIVERSITY OF GREENWICH 
ACCO1124: Financial Accounting 
Comprehensive Study and Exam Preparation Guide 2026 
 
- Part 01: About This Guide 
- Part 02: Sample Final Examination Paper 
- Part 03: Detailed Solutions and Explanations 
- Part 04: Proven Exam Strategies and Tips 
 
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University of Greenwich - ACCO1124: Financial Accounting

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ACADEMIC YEAR 2025 - 2026

University	University of Greenwich
School	Greenwich Business School
Module Code	ACCO1124
Module Name	Financial Accounting
Notes Title	Comprehensive Study and Exam Prep. Guide
Page Length	37

This guide helps you understand how the final exam for ACCO1124: Financial Accounting in 2026 at the University of Greenwich - will be assessed and structured, along with the likely style and range of questions that may be asked. This self-study set has been 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.

Financial Accounting (FA) aims to develop students' understanding of financial reporting and to enhance their ability to understand and to analyse published financial statements logically and coherently. The module is based on International Financial Reporting Standards (IFRS) compliance with which is compulsory in the consolidated financial statements for firms with listings in a number of jurisdictions, including all states within the European Union. The FA module also aims to place financial accounting in a computerised context and therefore the module is designed so that students develop a practical understanding of accounting information systems using a computerised accounting programme such as SAGE 50 Accounts Professional.

Indicative Content:

IASB’s Conceptual Framework:
- Objective of financial reporting
- Qualitative characteristics of useful financial information
- Principles for the recognition and measurement of assets and liabilities
Sources of regulation and control of financial reporting
Key International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS):
- IAS 1 – Presentation of financial statements
- IAS 2 – Inventories
- IAS 7 – Statement of cash flows
- IAS 8 – Accounting policies, changes in accounting estimates and errors
- IAS 10 – Events after the reporting period
- IAS 12 – Income taxes
- IAS 16 – Property, plant and equipment
- IAS 20 – Accounting for government grants and disclosure of government assistance
- IAS 23 – Borrowing costs
- IAS 28 – Investments in associates
- IAS 36 – Impairment of assets
- IAS 37 – Provisions, contingent liabilities and contingent assets
- IAS 40 – Investment property
- IFRS 3 – Business combinations
- IFRS 5 – Non-current assets held for sale and discontinued operations
- IFRS 10 – Consolidated financial statements
- IFRS 11 – Joint arrangements
- IFRS 15 – Revenue from contracts with customers

MODULE CODE	MODULE NAME
ACCO1083	Introduction to Financial Accounting
ACCO1095	Management Accounting
ACCO1124	Financial Accounting
ACCO1158	Quantitative Methods
BUSI1706	Introduction to Business Finance
ECON1006	Introduction to Economics for Business
ECON1008	Macroeconomics I
ECON1009	Microeconomics I
ECON1142	Quantitative Methods and Econometrics
ECON1143	Advanced Econometrics
ECON1145	Principles of Investment
ECON1176	Statistics for Economics and Finance
FINA1027	Finance
FINA1104	Financial Markets, Instruments and Institutions
FINA1126	Introduction to Finance and Economics
FINA1129	Corporate Financial Management
FINA1142	Introduction to Financial Management
MARK1107	Principles and Practice of Marketing

University of Greenwich - ACCO1124: Financial Accounting

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