Module Title:Financial Accounting 11 for Accounting Degree Students
Language of Instruction:English
Credits: 10
NFQ Level:7
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 develop in students an appreciation of the conceptual and regulatory framework of financial accounting and reporting; to equip them with the technical knowledge, skills and competence to prepare financial statements for individual corporate entities in accordance with international accounting standards and relevant legislation together with an ability to analyse and interpret financial statements. 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 Describe the context, purpose and regulation of financial reporting
LO2 Apply international accounting standards dealing with a range of accounting issues
LO3 Demonstrate a comprehensive knowledge of international accounting standards and its application in the preparation and presentation of published financial statements for individual corporate entities
LO4 Analyse, interpret and report on financial statements and related information to a variety of user groups
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
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 role and structure of the Accounting Standards Board (ASB) and the International Accounting Standards Board (IASB); The role of International Financial Reporting Standards (IFRS) and the process towards international convergence of accounting standards; The “Framework for the Preparation and Presentation of Financial Statements” and the conceptual framework debate; Professional ethics, independence and codes of conduct for the accounting profession.
Accounting Treatment of Particular Transactions (Applying IFRS to accounting and business transactions) (35%)
Property, plant and equipment; Impairment of assets; Investment property; Government Grants; Intangible assets; Inventories; Segment reporting; Leases; Contingencies and provisions; Events after the reporting period.
Preparing Financial Statements
Preparation and presentation of financial statements for non group limited companies in accordance with company’s legislation and accounting regulations in a form fit for publication; Regulatory requirements relating to the preparation of financial statements including the definition of corporate governance and the role and responsibility of the executive board; Reporting financial performance – Calculation of basic and diluted earnings per share, accounting for non-current assets held for sale and discontinued operations; Preparation of the Statement of Cash Flows; Restrictions on the distribution of profits and assets.
Analysis and Interpretation of Financial Statements
Limitations of financial information; Calculation and interpretation of a full range of accounting ratios; Communication of analysis and interpretation of accounts; Limitations of interpretation techniques.
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 2,3 10.00 Sem 1 End
Examination Class Test 2,3 10.00 Week 24
Project Company Report 1,4 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 2 Mandatory
CW_BBACF_B Bachelor of Business (Honours) in Accounting & Finance 3 Mandatory
CW_BBACF_B_OLD2 Bachelor of Business (Honours) in Accounting & Finance - Add on 3 Mandatory