Module Title: | Commercial/Corporate Law for Accountants |
Language of Instruction: | English |
Teaching & Learning Strategies: |
Formal lectures will be supplemented by discussion and group work, based on simulated scenarios and case studies. The module will be supported by on-line learning materials with an emphasis on self-directed independent learning. |
Module Aim: |
On completion of this module students will be equipped with an overview of Commercial/Corporate Law, its application and relevance to members of the accounting profession, or providers of auditing services, in their interactions with business entities, integrating the Ethical and Regulatory environment in which they operate. |
Learning Outcomes |
On successful completion of this module the learner should be able to: |
LO1 |
Distinguish, interpret, develop and apply aspects of the law of relevance to accountants relating to the structuring of business entities, the regulatory and best practice governance frameworks within which they operate, and the fostering of ethical cultures in the profession., |
LO2 |
Demonstrate and apply knowledge of company officers of key significance for accountants, including directors, the statutory auditor, and the company secretary, and demonstrate an appreciation of the division of power between the board and shareholders. |
LO3 |
In the context of the accounting profession, explain the circumstances of appointment, rights and duties of receivers, liquidators and examiners and the effect of their appointment on key stakeholders. |
LO4 |
Discuss and apply the main sources of employment law in Ireland of relevance to business entities interacting with the accounting profession, in the context of our membership of the EU. |
LO5 |
Assess and critically evaluate aspects of commercial law of relevance to the accounting profession including the law of agency, and appreciate the distinction between the different types of credit and security and their relevance to business entities. |
LO6 |
Distinguish between the different types of Capital, its maintenance and distribution in the context of the interaction of business entities with the accounting profession. |
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
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7265 |
LAWS H1302 |
Business Law |
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 |
Overview of Statutory Frameworks and ethical standards for Accountants
Types of Entity Structure – Corporate, Partnerships, Sole Trader. Methods and means of Regulation (Rules based and Principles based) and Enforcement of Business entities and the Accounting Profession in Ireland/EU.
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Aspects of Commercial Law
Introduction to the Law of Agency; consequences of agency relationship, liability of agent, authority of agent, Commercial Agents (CAR)
Introduction to Credit Facilities and Corporate Borrowing, Types of Security interests; real, possessory, liens, pledges, charges, personal guarantees, letters of comfort, retention of tile security arrangements.
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Financial Regulation for entities interacting with Accountants
Capital Maintenance- Corporate Borrowing, Company Securities , Preparation, Regulation, and Filing of Accounts/Financial Statements, Filing, Audit and Audit Committees, maintenance of registers. Distribution of Capital.
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Corporate Governance for Accountants
Shares and Shareholder Rights, Directors duties, compliance statements, Enforcement, Meetings. Company Secretaries – qualifications, duties, powers, Auditors- Financial Statements, qualifications, appointment and remuneration of auditor, auditors’ rights and duties
The Role of the Board, Audit Committees and Risk Management, Small and Micro companies Abridged Financial Statements.
Balance of Control
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Role of Accounting profession in Insolvency
Receivership – role of receiver, qualifications, duties and powers. Examinership – role of examiner, qualifications, examiners’ duties and powers, role of independent expert. Liquidation – role and qualifications of liquidator, Principal duties of liquidators, Liquidators’ powers, Types of Liquidation – Members’ Voluntary Liquidation, Creditors’ Voluntary Liquidation, Compulsory Liquidation.
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Employment Law for Accountants
Contract of Employment, Statutory regulation, Adjudication of Disputes (WRC), Ending the Employment relationship, Employment Equality.
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Assessment Breakdown | % |
Continuous Assessment | 30.00% |
End of Module Formal Examination | 70.00% |
Practical |
Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
Practical/Skills Evaluation |
MCQ/Problem Solving Scenario |
5,6 |
30.00 |
n/a |
End of Module Formal Examination |
Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
Formal Exam |
n/a |
1,2,3,4,5,6 |
70.00 |
End-of-Semester |
SETU Carlow Campus 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 |
6.00 |
Independent Learning |
Every Week |
12.00 |
Total Hours |
18.00 |
Workload: Part Time |
Workload Type |
Frequency |
Average Weekly Learner Workload |
Lecture |
Every Week |
3.00 |
Independent Learning |
Every Week |
15.00 |
Total Hours |
18.00 |
Module Delivered In
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