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 Assessment
100.00%
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
SETU Carlow Campus reserves the right to alter the nature and timings of assessment