Module Details

Module Code: ACCT
Module Title: Fund Accounting
Title: Fund Accounting
Module Level:: 7
Credits:: 5
Module Coordinator: Janette Davies
Module Author:: Ailish O'Brien
Domains:  
Module Description: This module introduces students to investment funds and the regulatory and international environment in which they operate in. It provides the students with an
appreciation of the types of transactions handled by a fund accountant including the determination of the Net Asset Value (NAV).
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Apply accounting entries to reflect subscriptions, redemptions, distributions and fees.
LO2 Account for trades in fixed income securities, money markets and equities with resulting changes to the Net Asset Value and shareholders' equity.
LO3 Appraise the regulatory and legal environment for investment funds, particularly in the Irish and international context.
LO4 Evaluate how the fund industry operates, the players involved and current issues affecting the fund industry.
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
Registering an investment fund
Description of investment funds, parties to a fund, types of funds, fund prospectus & documentation, registering new clients..
Regulation/compliance
Legal and regulatory framework in Ireland , EU and internationally, role of the Central Bank & other industry bodies, fund authorisation process, anti-money laundering (AML) framework, UCITS framework.
Accounting for daily transactions of the fund
Capital stock, fund fees, equities, fixed income securities & money markets, preparation of the Net Asset Value (NAV) & controls ensuring an accurate NAV.
Current issues in the fund sector
Ratings agencies, green/ethical funds, islamic funds, role of active versus passive investment, IT in the fund sector, cybersecurity/crime and other current issues.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment50.00%
Project50.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Other % of Total Mark 50
Timing n/a Learning Outcomes 1,2
Non-marked No
Assessment Description
Class exam
Project
Assessment Type Project % of Total Mark 50
Timing n/a Learning Outcomes 3,4
Non-marked No
Assessment Description
Group case study
No Practical
No End of Module Formal Examination

Part Time

Continuous Assessment
Assessment Type Other % of Total Mark 50
Timing n/a Learning Outcomes 1,2
Non-marked No
Assessment Description
Class exam
Project
Assessment Type Project % of Total Mark 50
Timing n/a Learning Outcomes 3,4
Non-marked No
Assessment Description
Group case study
No Practical
No End of Module Formal Examination
Reassessment Requirement
Exam Board
It is at the discretion of the Examination Board as to what the qualifying criteria are.

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 lectures, group work, class exercises. 12 Weeks per Stage 3.00 36
Independent Learning Non Contact Research topics; group work; complete exercises. 15 Weeks per Stage 5.93 89
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Independent Learning Non Contact Research topics; group work; complete exercises. 15 Weeks per Stage 2.97 44.5
Contact Hours Contact Class lectures, group work, class exercises. 12 Weeks per Stage 1.50 18
Total Weekly Contact Hours 1.50
 
Module Resources
Recommended Book Resources
  • O'Loughlin, B. and O'Brien, F.. (2019), Fundamentals of Investment, 3rd Edition. Routledge, p.436, [ISBN: 9781315162225].
  • Jones, C.P. and Jensen, G.R.. (2019), Investment Analysis and Management, 14th Edition. Wiley, [ISBN: 9781119578123].
  • Fabozzi, F.. (2015), Capital Markets: Institutions, Instruments and Risk Management, 5th Edition. MIT Press, USA, [ISBN: 978026202948].
Supplementary Book Resources
  • Reilly, F., Brown, K.C. and Leeds, S.J.. (2018), Investment Analysis and Portfolio Management, 11th Edition. South-Western College, USA, [ISBN: 9781305262997].
Recommended Article/Paper Resources
Other Resources
Discussion Note: