ACCT06037 2016 Introduction to Financial Accounting
Full Title
Introduction to Financial Accounting
Transcript Title
Intro to Financial Accounting
Code
ACCT06037
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
06 - Level 6
Credit
10 - 10 Credits
Duration
Semester
Fee
€
Start Term
2016 - Full Academic Year 2016-17
End Term
2022 - Full Academic Year 2022-23
Author(s)
Caroline McNulty, Gary Reynolds
Programme Membership
SG_BBUSO_C06 201600 Higher Certificate in Business in Business in Business
SG_BBSOL_C06 202000 Higher Certificate in Business
Description
Introduce the bookeeping principles, the key principles and concepts of financial accounting and how they are applied in the preparation of financial statements.
Students will gain an insight into the fundamentals of financial accounting and 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;
1.
Explain the importance of and application of ethical principles within the business environment
2.
Prepare Income Statement and Statement of Financial Position
3.
Apply best practice in the preparation of financial statements for sole traders
4.
Explain relationship of bookkeeping and accounting.
5.
Prepare books of original entry and post transactions to ledgers and extract trial balance.
6.
Prepare basic Income Statement and Statement of Financial Position.
Teaching and Learning Strategies
Comprises of Lectures & Tutorials
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
Introduction to Double entry bookkeeping , Accounting equation, Daybooks, ledgers, Vat and trial balance
Introduction to books of original entry
Introduction to columnar day (including Vat)
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
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Multiple Choice Quizzes/ MCQ | Coursework Assessment | UNKNOWN | 0 % | OnGoing | 1,2,3,4,5,6 |
| 2 | Continuous Assessment | Coursework Assessment | UNKNOWN | 40 % | OnGoing | 1,2,3,4,5,6 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam | Final Exam | UNKNOWN | 60 % | End of Term | 1,2,3,4,5,6 |
Part Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Flat Classroom | Lecture | 3 | Weekly | 3.00 |
| Independent Learning | UNKNOWN | Personal Study | 2 | Weekly | 2.00 |
Total Part Time Average Weekly Learner Contact Time 3.00 Hours
Required & Recommended Book List
Recommended Reading
2015-10-15 Frank Wood's Business Accounting Pearson Education Limited
ISBN 1292084669 ISBN-13 9781292084664
2015-10-15 Frank Wood's Business Accounting Pearson Education Limited
ISBN 1292084669 ISBN-13 9781292084664
'An excellent book, well written with each chapter building logically on the last, allowing students to build their knowledge in manageable steps.' Stephen McNamee, University of Ulster The world's best-selling textbook on book-keeping and accounting, Business Accounting Volume 1 continues to provide an indispensable introduction for students and professionals across the globe. It is renowned for its clarity, with easy-to-understand language and a plethora of examples to aid your understanding. In the 13th edition, which is fully compliant with International Financial Reporting Standards (IFRS), all topics have been fully updated, including areas such as computerised accounting, banking, and accounting concepts and assumptions. With a brand new Chapter 2 on double entry, and more than 100 new review questions and activities, this edition contains all you need to understand and consolidate the key concepts in accounting. Please note that the product you are purchasing does not include MyAccountingLab. MyAccountingLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyAccountingLab to accelerate your learning? You need both an access card and a course ID to access MyAccountingLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyAccountingLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyAccountingLab (ISBN:9781292088549) 4. If your lecturer is using the MyLab and you would like to purchase the product...Go to www.myaccountinglab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator
Module Resources
Other Resources
None
Additional Information
None