Class exercises, group work, lectures and independent learning.
Module Aim:
The aim of this module is to enable students' to prepare the financial statements of a company, incorporating relevant international accounting standards, in the context of an appropriate regulatory and conceptual framework.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1
Describe the regulatory framework relating to financial reporting.
LO2
Prepare published financial statements, incorporating International Financial Reporting/Accounting Standards and relevant legal requirements
LO3
Apply relevant accounting standards to a range of scenarios.
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
Regulatory and conceptual framework of Accounting.
Role of international accounting profession; development of international accounting standards, regulatory framework of Accounting; users of financial statements; conceptual framework of Accounting. Relevant laws in Ireland, the EU and internationally.
Preparation of financial statements of a company
Income Statement, Statement of Changes in Equity and Statement of Financial Position, complying with relevant accounting standards and laws. Adjustments and notes to the financial statements. Content of financial reports from the viewpoint of various user groups.
Accounting standards
Events after the Reporting Period; Provisions, Contingent Liabilities & Contingent Assets; Changes in Accounting Errors & Estimates; Taxation; Inventories;Tangible & Intangible Non-Current Assets.
Assessment Breakdown
%
Continuous Assessment
60.00%
Project
40.00%
Continuous Assessment
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Examination
Preparation of financial statements, including adjustments.
Application of accounting standards.
2,3
60.00
n/a
Essay
Essay discussing the regulatory/conceptual framework of Accounting
1
40.00
n/a
No Project
No Practical
No End of Module Formal Examination
Continuous Assessment
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Examination
Preparation of financial statements, including adjustments. Application of accounting standards.
2,3
60.00
Week 9
Case Studies
Essay discussing the regulatory/conceptual framework of Accounting.
1
40.00
Week 13
No Project
No Practical
No End of Module Formal Examination
SETU Carlow Campus reserves the right to alter the nature and timings of assessment