This module aims to provide students with an in-depth understanding of the conceptual principles and key techniques of financial reporting practices. It evaluates the key elements of financial reporting systems set out in International Financial Reporting Standards (IFRS), placing particular reference to the standard-setting process as well as the preparation and interpretation of financial statements. Drawing on real-world case studies and the latest accounting research evidence, the module enhances students’ ability to critically assess financial reporting practices in contemporary business environment. It also identifies primary stakeholders of businesses and develops a framework for understanding their interests and needs for accounting information related to business operations. In addition, insights from industry practitioners provide a practical perspective on current challenges and regulatory developments in the arena of accountancy. By combining theoretical foundations with applied learning, this module strengthens students’ practical financial accounting skills and deepens their understanding of the role of financial accounting in assessing financial performance and informing corporate decision-making.