UNIVERSITY OF KENT
MODULE SPECIFICATION
SECTION 1: MODULE SPECIFICATIONS
1.
Title of the module: Financial Reports and their Analysis (MA528)
2.
School or partner institution which will be responsible for management of the module
School of Mathematics, Statistics and Actuarial Science
3.
Start date of the module: September 2014
4.
The number of students expected to take the module: 100 (2014/15)
5.
Modules to be withdrawn on the introduction of this proposed module and consultation with other
relevant Schools and Faculties regarding the withdrawal
This module and MA527 replace MA526.
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M]): I
7.
The number of credits and the ECTS value which the module represents : 15 (ECTS 7.5)
8.
Which term(s) the module is to be taught in (or other teaching pattern): Spring term
9.
Prerequisite and co-requisite modules:
There are no prerequisite modules.
Co-requisite modules: MA527 Corporate Finance for Actuaries
10. The programmes of study to which the module contributes
BSc (Hons) Actuarial Science (including programme with a year in industry)
11. The intended subject specific learning outcomes
On successful completion of this module students will be able to:
a) construct the main accounts normally contained within corporate annual reports;
b) understand and interpret critically the concepts and methods of financial reporting;
c) analyse and compare corporate results across time and between firms using horizontal and
vertical analysis techniques.
12. The intended generic learning outcomes
Students who successfully complete this module will have:
a) developed a logical mathematical approach to solving problems and will be able to solve
problems in financial reporting and analysis using appropriate methods;
b) enhanced their computer skills in selection and use of electronic sources to search for and
retrieve information online, and to use generic commercial software and its applications to
accounting;
c) improved their ability to manage their time and work independently;
d) improved their key skills in numeracy, problem solving, and written communication.
13. A synopsis of the curriculum
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UNIVERSITY OF KENT

Regulatory backdrop to accounting

Accounting Principles

Basic construction of the main accounts, ie income statements, balance sheets, cashflow
statements and changes in equity statements.

Directors and auditors reports

Interpretation of accounts and horizontal and vertical analysis using ratios

Limitations of accounts and ratio analysis

Group accounting structures

Peculiarities of insurance company accounts.
The intention is that this curriculum together with that for MA527 would provide an acceptable
platform for exemption from the UK actuarial profession’s examination in subject CT2, subject to
satisfactory performance.
14. Indicative Reading List
The material is covered by the Actuarial Education Company’s notes for Subject CT2, Financial
accounting - Britton, Anne, Waterston, Christopher, Dawsonera 2010 and by “Interpreting Company
Reports and Accounts” Geoffrey Holmes, Alan Sugden & Paul Lee 10th Edition. Prentice Hall ISBN
978-0-273-71141-4
15. Learning and Teaching Methods, including the nature and number of contact hours and the total
study hours which will be expected of students, and how these relate to achievement of the intended
module learning outcomes.
No. of contact hours: 48 (18 lectures and 24 example classes/supervised problem solving sessions
and 6 computer terminal sessions)
Independent study hours: 102
Total study hours: 150
Teaching methods will comprise a mix of lectures, example classes, supervised problem solving
sessions and terminal sessions. Subject specific learning outcomes 11(a)-(c) and generic learning
outcome 12(a) will be addressed by the lectures, classes and problem solving sessions. The terminal
sessions address subject specific learning outcomes 11(a)-(c) and generic learning outcome 12(b).
The skills listed as generic learning outcomes 12(b)-(d) will be developed by work on the coursework
assessments.
16. Assessment methods and how these relate to testing achievement of the intended module learning
outcomes
This module is assessed by coursework (30%) and by examination (70%).
Coursework: This will normally consist of a class test and/or open-book written assignments
completed by students outside contact hours (assessing learning outcomes 11(a)-(c) and 12(a),(d))
together with one computer based exercise covering accounts construction and analysis (assessing
learning outcomes 11(a)-(c) and 12(a)-(b) and (d)).
Examination: A 2-hour unseen written examination in the Summer Term that consists of a mix of
short and long answers that test to varying levels of proficiency learning outcomes 11(a)-(c) and
12(a), (c), (d).
17. Implications for learning resources, including staff, library, IT and space
This module has been redesigned as part of an overall restructure of the Actuarial Science modules.
In terms of resources for the BSc Actuarial Science programme, this module together with MA527
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UNIVERSITY OF KENT
will require similar resources to their predecessor MA526. However, as a result of the restructure it
will no longer be possible to co-deliver the postgraduate modules MA726 and MA826 alongside
these modules. This will require separate resources to deliver MA726 and MA826 to be provided.
This will have implications for both staff and space requirements. There are not expected to be any
additional IT or Library resource requirements.
18. The School recognises and has embedded the expectations of current disability equality legislation,
and supports students with a declared disability or special educational need in its teaching. Within
this module we will make reasonable adjustments wherever necessary, including additional or
substitute materials, teaching modes or assessment methods for students who have declared and
discussed their learning support needs. Arrangements for students with declared disabilities will be
made on an individual basis, in consultation with the University’s disability/dyslexia support service,
and specialist support will be provided where needed.
19. Campus where module will be delivered: Canterbury
SECTION 2: MODULE IS PART OF A PROGRAMME OF STUDY IN A UNIVERSITY SCHOOL
Statement by the School Director of Learning and Teaching/School Director of Graduate Studies
(as appropriate): "I confirm I have been consulted on the above module proposal and have given advice
on the correct procedures and required content of module proposals"
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Director of Learning and Teaching/Director of
Graduate Studies (delete as applicable)
Date
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Print Name
Statement by the Head of School: "I confirm that the School has approved the introduction of the
module and, where the module is proposed by School staff, will be responsible for its resourcing"
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Head of School
Date
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Print Name
Module Specification Template
Last updated February 2013
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