Module Details

Module Code: ACCT H2308
Module Title: Financial Reporting 1 for Accounting Degree Students
Title: Financial Reporting 1
Module Level:: 7
Credits:: 5
Module Coordinator: Martin Meagher
Module Author:: Susan Brennan
Domains:  
Module Description: This module is designed to develop in students an appreciation of the conceptual and regulatory framework of financial accounting and reporting and to equip them with the skills and competence to prepare financial statements for individual corporate entities in accordance with international accounting standards and relevant legislation. Students will be introduced to a wide range of international accounting standards both from a theoretical and practical viewpoint. The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to an Honours Accounting programme.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe the context, purpose and regulation of financial reporting
LO2 Evaluate and apply a selection of current international accounting standards dealing with a range of accounting issues
LO3 Prepare financial statements for individual corporate entities in a form suitable for publication incorporating the application of relevant international accounting standards
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
The context, purpose and regulation of financial reporting
The nature and objective of financial reporting; The regulatory framework within which published accounts are produced; The structure of the International Accounting Standards Board (IASB) and the standard setting process; The “Conceptual Framework for Financial Reporting".
International Accounting Standards (Applying IFRS to transactions)
Property, Plant and Equipment (IAS 16); Borrowing Costs (IAS 23); Impairment of Assets (IAS 36); Investment Property (IAS 40); Government Grants (IAS 20); Inventories (IAS 2); Intangible Assets (IAS 38); Provisions, Contingent Liabilities and Contingent Assets (IAS 37); Events after the Reporting Period (IAS 10); Key differences between examinable IFRS and local GAAP FRS 102.
Financial Statements Preparation
Preparation and presentation of financial statements for non-group public limited companies in a form suitable for publication incorporating application of relevant accounting standards.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment20.00%
End of Module Formal Examination80.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Examination % of Total Mark 20
Timing Week 8 Learning Outcomes 1,2
Non-marked No
Assessment Description
In-Class written assessment including numerical and/or theoretical questions
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 80
Timing End-of-Semester Learning Outcomes 1,2,3
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 4.00 4
Independent Learning Non Contact No Description Every Week 5.00 5
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Class Based Instruction Every Week 2.00 2
Independent Learning Time Non Contact No Description Every Week 9.00 9
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Alan Melville. (2019), International Financial Reporting 7th Edition, 7th. [ISBN: 9781292293127].
Supplementary Book Resources
  • Margaret D'Arcy. (2019), An Introduction to Financial Accounting, 2nd. Chartered Accountants Ireland, [ISBN: 9781912350285].
  • Ciaran Connolly. (2018), International Financial Accounting and Reporting, 6th. Chartered Accountants Ireland, [ISBN: 9781912350025].
  • Barry Elliott and Jamie Elliott. (2019), Financial Accounting and Reporting, 19th. Pearson, [ISBN: 9781292255996].
This module does not have any article/paper resources
Other Resources
Discussion Note: