UNIVERSITY OF NOTTINGHAM

BUSI2039: Financial Accounting and Reporting 1

Final Examination Guide and Notes 2026

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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BUSI2039: Financial Accounting and Reporting 1 (Solutions)

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ACADEMIC YEAR 2026 - 2027

University	University of Nottingham
Module Code	BUSI2039
Module Name	Financial Accounting and Reporting 1
Total Credits	20.00
Notes Title	Final Examination Guide and Notes
Page Length	38

This comprehensive guide is designed to help you understand how the final examination for BUSI2039: Financial Accounting and Reporting 1 at the University of Nottingham will be structured and assessed. It provides insights into the types and formats of questions likely to appear on the exam. Fully updated for this academic year, this self-study set covers all examinable topics and includes sample questions with detailed solutions. This guide will assist you in identifying priority areas for review, key concepts, and essential topics to focus on as you prepare for the exam. It also offers an overview of the exam format and content expectations.

The module BUSI2039: Financial Accounting and Reporting 1 at the University of Nottingham is tailored for BSc (Hons) Accountancy students, building upon foundational knowledge from Year 1 Fundamentals of Financial and Management Accounting. This module delves into the International Financial Reporting Standards (IFRS), equipping students with the expertise to prepare single-entity and basic consolidated financial statements. It emphasises key accounting concepts, the ethical dimensions of financial reporting, and the practical application of IFRS to various financial scenarios. Students will gain skills in creating financial statements, such as statements of profit or loss, other comprehensive income, changes in equity, and financial position, alongside additional disclosures for annual reports.

Key topics covered include accounting and reporting on both cash flow and accrual bases, the preparation of cash flow statements, and accounting for liabilities, financial instruments, and taxation in company accounts. Students will also explore the principles of revenue recognition, share capital, distributable profits, and capital reduction. The module examines the evolution of global financial reporting standards and the development of an international conceptual framework, with attention to specific areas such as employee benefits, property, plant, and equipment (PPE), and the implications of price-level changes. This comprehensive approach ensures a robust understanding of financial accounting and reporting principles.

MODULE CODE	MODULE NAME
BUSI1008	Quantitative Methods 1B
BUSI1020	Business Finance
BUSI1093	Fundamentals of Financial and Management Accounting
BUSI1095	Introduction to Economics
BUSI1099	Microeconomics for Business
BUSI1100	Business Economics
BUSI2001	Introductory Econometrics
BUSI2039	Financial Accounting and Reporting 1
BUSI2052	Financial Accounting and Reporting 2
BUSI2146	Corporate Finance (Level 2)
BUSI2147	Management Accounting
BUSI2172	Marketing Management
BUSI3027	Financial Economics
BUSI3030	Applied Econometrics
BUSI3184	Financial Markets: Theory and Computation
BUSI4445	Derivative Investment
ECON1043	Foundations of Economics
ECON1047	Quantitative Methods
ECON2003	Macroeconomic Theory
ECON2018	Principles of Macroeconomics
ECON2045	Econometric Theory

UKNOTES.

BUSI2039: Financial Accounting and Reporting 1 (Solutions)

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