Module Title:Intermediate Financial Accounting 1
Language of Instruction:English
Credits: 5
NFQ Level:6
Module Delivered In 8 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 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 should be able to:
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.
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
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)
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Other class exam, MCQ, 1,2 30.00 Week 7
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 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 6.00
Total Hours 9.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 1.50
Independent Learning Time Every Week 7.50
Total Hours 9.00

Module Delivered In

Programme Code Programme Semester Delivery
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