Module Title:Financial Reporting for Accounting Degree Students
Language of Instruction:English
Credits: 10
NFQ Level:8
Module Delivered In 3 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various accounting scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. E-Learning - It is envisaged that the module will be supported with on-line learning materials. Self-Direct Independent Learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: The aim of this module is to equip students with competence in accounting for business combinations and the preparation and presentation of consolidated financial statements; an ability to exercise judgement and technique in corporate reporting matters encountered by accountants; a knowledge of specialised accounting topics; and an ability to react to current developments and new practice. The students will gain an appreciation of its application in the context of the professional regulatory and ethical framework. The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to a B.A. (Honours) in Accounting program.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Discuss, explain and apply the methods of accounting for business combinations
LO2 Prepare the financial statements of groups and international companies
LO3 Identify, apply and discuss the requirements of specified Accounting Standards
LO4 Discuss and evaluate contemporary developments in financial and non-financial reporting
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed

Module Content & Assessment

Indicative Content
Consolidated Accounts
Introduction to the concept of a group and the objective of consolidated financial statements; Motives for business combinations; Relationships between group companies and the circumstances for subsidiaries to be excluded from consolidation; Accounting considerations, including the treatment of intra-group transactions, non-controlling interests, dividends, pre and post acquisition retained earnings and the calculation of goodwill at acquisition; Determination of fair value on acquisition and calculation of adjustments; Accounting for associates and joint ventures using the equity method of accounting; Preparation of consolidated statement of profit or loss; Preparation of consolidated statement of financial position; Foreign Subsidiaries.
Accounting for Specialised Areas
The substance of transactions and revenue recognition; Employee benefits; Deferred taxation; Share based payments; Financial instruments.
Developments in Financial Reporting
Review of emerging, contemporary and ethical issues in financial and non-financial reporting; Review of exposure drafts issued by the regulators and the progress towards international convergence of accounting standards.
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Examination Class Test 1,2 10.00 Sem 1 End
Examination Class Test 1,2,3 10.00 Week 24
Essay Research Essay 4 10.00 Sem 2 End
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 3.00
Independent Learning Every Week 4.00
Total Hours 7.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 1.50
Independent Learning Time Every Week 4.50
Total Hours 6.00

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBACT_B Bachelor of Arts (Honours) in Accounting 3 Mandatory
CW_BBACF_B Bachelor of Business (Honours) in Accounting & Finance 4 Mandatory
CW_BBACF_B_OLD2 Bachelor of Business (Honours) in Accounting & Finance - Add on 4 Mandatory