Module Title:Intermediate Financial Accounting 2
Language of Instruction:English
Credits: 5
NFQ Level:6
Module Delivered In 14 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. Students will learn how to prepare partnership accounts and will increase their skills in the analysis of financial accounts.
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, partnership accounting and interpretation and analysis of financial statements.
LO2 Identify and apply appropriate financial accounting techniques when presented with defined and undefined practical business problems.
LO3 Analyse and interpret results and outcomes within a financial accounting framework and make recommendations
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
Requirements
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
Accounting for transactions and events. Preparing Final Accounts
Events after Reporting Period (IAS 10). Provisions, Contingent Liabilties (IAS 37). Intangible Assets (IAS 38). Incomplete Records. Cashflow Statement (IAS 7).
Partnership Accounts:
Partnership agreements, capital & current accounts, appropriation accounts. Preparation of final accounts for partnership. Accounting for changes in partnership (admission, retirement, goodwill, revaluation).
Interpretation of Accounts:
• Purpose of ratio analysis • Calculation of key ratios and identification of significant trends • Interpretation and communication of ratios • Significance and limitations of ratio analysis
Assessment Breakdown%
Continuous Assessment100.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Other Class test, MCQ, Case Study 1,2,3 50.00 Week 7
Other Class test/Case Study/MCQ 1,2,3 50.00 Week 12
No Project
No Practical
No End of Module Formal Examination

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
CW_BBACF_B Bachelor of Business (Honours) in Accounting and Finance 4 Elective
CW_BBLAW_B Bachelor of Business (Honours) in Business with Law 4 Elective
CW_BBHRM_B Bachelor of Business (Honours) in Human Resource Management 4 Elective
CW_BBBBM_B Bachelor of Business (Honours) in Management 4 Elective
CW_HHMKT_B Bachelor of Business (Honours) in Marketing 4 Elective
CW_BBSCM_B Bachelor of Business (Honours) in Supply Chain Management 4 Elective
CW_BBHRM_D Bachelor of Business in Human Resource Management 4 Elective
CW_BBINB_D Bachelor of Business in International Business incorporating Double Degree 4 Elective
CW_BPMKT_D Bachelor of Business in Marketing 4 Elective
CW_BBSCM_D Bachelor of Business in Supply Chain Management 4 Elective
CW_BBCAA_C Higher Certificate in Accounting 4 Mandatory
CW_BBLEG_C_1 Higher Certificate in Arts in Legal Studies 4 Elective
CW_BBBUS_C Higher Certificate in Business 4 Elective
CW_BBLAW_C Higher Certificate in Business with Law 4 Elective