ACCT06030 2022 Financial Accounting 2

General Details

Full Title
Financial Accounting 2
Transcript Title
Financial Accounting 2
N/A %
Subject Area
ACCT - Accounting
BUS - Business
06 - NFQ Level 6
05 - 05 Credits
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Caroline McNulty, Gary Reynolds, Valerie McTaggart, Geraldine Barry, Kerry Dolan
Programme Membership
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BBUSI_C06 202200 Higher Certificate in Business in Business Studies SG_BBUSS_B07 202200 Bachelor of Business in General Business

Introduce the key principles and concepts of accounting and how they are applied in the preparation of financial statements. Students will gain an insight into the how financial accounting principles are applied to the preparation of Financial statements.

Learning Outcomes

On completion of this module the learner will/should be able to;


Explain the importance of and application of ethical principles within the business environment.


Prepare Income Statement and Statement of Financial Position.


Apply best practice in the preparation of financial statements for sole traders.


Complete basic transactions on computerised accounts software and interpret the computerised reports.

Teaching and Learning Strategies

Comprises of Lectures, Tutorials & computer labs.

Module Assessment Strategies

Written Exam and/ or Moodle Quiz with theory and numerical content.

Repeat Assessments

Written Exam and/ or Moodle Quiz with theory and numerical content.

Indicative Syllabus

Introduction to principles and concepts within financial accounting.

Double entry bookkeeping , Accounting equation, Daybooks, ledgers, Vat and trial balance.

Correction of trial balance adjustments and errors; journal entries, control accounts, depreciation, accruals, prepayments, bad debts and doubtful debts provisions. 

Prepare a Bank Reconciliation.

Preparation of Income statement and Statement of financial position.

Computerised Accounts.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
50 %
End of Semester / Year Formal Exam
50 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Multiple Choice Quiz Continuous Assessment Multiple Choice 20 % Week 6 1,2,3
2 Continuous Assessment Accounting software Continuous Assessment Individual Project 30 % Week 10 4

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Assessment Final Exam Open Book Exam 50 % End of Term 1,2,3

Full Time Mode Workload

Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 3 Weekly 3.00
Tutorial Computer Laboratory Lab 1 Weekly 1.00
Independent Learning Not Specified Personal study 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2021 Frank Wood's Business Accounting
ISBN 1292365439 ISBN-13 9781292365435

Frank Wood's Business Accounting Volume 1, the world's best-selling textbook on book-keeping and accounting, continues to provide an indispensable introduction for students and professionals across the globe.

Module Resources

Non ISBN Literary Resources

URL Resources
Other Resources


Additional Information

In semester 2, students must select either of the following modules as a mandatory module:

Module ref: ACCT06030 Financial Accounting 2 or ACCT06033 Accounting & Payroll.