The aim of this module is to expand the students’ existing knowledge of Financial Accounting, increasing their comprehension and application of advanced transactions recording. They will further develop their skills in the preparation of final financial statements.
Learning Outcomes
On successful completion of this module the learner will be able to:
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Learning Outcome Description
LO1
Define and explain the key terms, concepts and practices for financial reporting, recording advanced accounting transactions, preparing final financial statements.
LO2
Identify and apply appropriate financial accounting techniques when presented with defined and undefined practical business problems.
Dependencies
Module Recommendations
This is prior learning (or a practical skill) that is recommended before enrolment in this module.
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
Indicative Content
Principles of Financial Accounting & the Regulatory framework:
The nature and objectives of financial reporting, The regulatory framework. Accounting principles concepts and policies. Ethics.
Recording transactions & preparing for final accounts
Accounting for PPE: cost, revaluation, depreciation, disposal, recognition (IAS 16, IAS 23). Provision for Doubtful Debts. Accruals & Prepayments. Closing year end accounts. Correction of errors & suspense accounts. Inventory Valuation.
Preparing final financial statements:
Preparation of Financial Statements in a form fit for publication (IAS 1)
Module Content & Assessment
Assessment Breakdown
%
Continuous Assessment
30.00%
End of Module Formal Examination
70.00%
Assessments
Full Time
Continuous Assessment
Assessment Type
Other
% of Total Mark
30
Timing
Week 7
Learning Outcomes
1,2
Non-marked
No
Assessment Description class exam, MCQ,
No Project
No Practical
End of Module Formal Examination
Assessment Type
Formal Exam
% of Total Mark
70
Timing
End-of-Semester
Learning Outcomes
1,2
Non-marked
No
Assessment Description End-of-Semester Final Examination
Reassessment Requirement
Repeat examination Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
SETU Carlow Campus reserves the right to alter the nature and timings of assessment
Module Workload
Workload: Full Time
Workload Type
Workload Category
Contact Type
Workload Description
Frequency
Average Weekly Learner Workload
Hours
Lecture
Contact
Class based instruction
Every Week
3.00
3
Independent Learning
Non Contact
No Description
Every Week
6.00
6
Total Weekly Contact Hours
3.00
Workload: Part Time
Workload Type
Workload Category
Contact Type
Workload Description
Frequency
Average Weekly Learner Workload
Hours
Lecture
Contact
No Description
Every Week
1.50
1.5
Independent Learning Time
Non Contact
No Description
Every Week
7.50
7.5
Total Weekly Contact Hours
1.50
Module Resources
Recommended Book Resources
Margaret D'Arcy. (2019), An Introduction to Financial Accounting, 2nd. Chartered Accountants Ireland, [ISBN: 9781912350285].
Supplementary Book Resources
Andrew Thomas,Anne Marie Ward. (2019), Introduction to Financial Accounting, 9e, 9th Ed. McGraw Hill Education, [ISBN: 9781526803009].
This module does not have any article/paper resources
Other Resources
IAASA (Irish Auditing and Accounting
Supervisory Authority),