ACCT07021 2016 Financial Accounting 5

General Details

Full Title

Financial Accounting 5

Transcript Title

Financial Accounting 5

Code

ACCT07021

Attendance

N/A %

Subject Area

ACCT - 0411 Accounting & Taxation

Department

BUS - Business

Level

07 - Level 7

Credit

05 - 05 Credits

Duration

Semester

Fee

€

Start Term

2016 - Full Academic Year 2016-17

End Term

9999 - The End of Time

Author(s)

Caroline McNulty, Helen Grady

Programme Membership

SG_BACCT_J07 201600 Bachelor of Business in Accounting SG_BACCO_J07 202100 Bachelor of Business in Accounting L7 SG_BACCT_J07 202400 Bachelor of Business in Accounting

Description

Introduce the student to the ideas of good corporate governance and social responsibility and further develop their accounting skills, allowing the students to prepare financial statements of a more complex nature.

Learning Outcomes

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

Explain what ethical behaviour and good corporate governance entail

Describe the framework underlying the preparation and presentation of financial statements.

Record a large variety of business transactions using the double-entry system

Prepare financial statements for different business structures

Teaching and Learning Strategies

The strategy is based on a mix of

Lecture Strategy used to introduce each topic to students. It is used as a means of conveying information on a new topic to students.

Active Learning where students produce written work during the lecture. This aims to improve students' understanding and retention of information and can be very effective in developing higher order cognitive skills such as problem solving and critical thinking.

Discussion Strategies where students are engaged in discussion to deepen their learning and motivation by propelling them to develop their own views and hear their own voices. It provides a good environment for interaction is the first step in encouraging students to talk.

Module Assessment Strategies

A written exam which can be theoretical and/or numerical or project.

Repeat Assessments

Repeat examination as all learning outcomes are covered

Module Dependencies

Prerequisites

ACCT06032 201600 Financial Accounting 4

Indicative Syllabus

Ethical considerations. Corporate governance, what is it, what is best practice at the present time? What is the role of the IASB in the preparation of accounting laws, standards and other pronouncements?

Double entry book-keeping, correction of errors, control accounts, vat accounting.

Prepare year-end financial statements for sole traders, not-for-profit organisations, manufacturers and limited companies (excluding groups). Prepare year end accounts from incomplete records.

Coursework & Assessment Breakdown

End of Semester / Year Formal Exam

100 %

Coursework Assessment

	Title	Type	Form	Percent	Week	Learning Outcomes Assessed
1	In class Q/A sessions; also MCQ's	Formative	UNKNOWN	UNKNOWN %	OnGoing	1,2,3,4
2	Problem solving practice	Formative	UNKNOWN	UNKNOWN %	OnGoing	1,2,3,4
3	Written test containing theoretical and/or numerical questions	Coursework Assessment	UNKNOWN	20 %	Week 9	1,2,3,4

End of Semester / Year Assessment

	Title	Type	Form	Percent	Week	Learning Outcomes Assessed
1	Written test containing MCQ's, theoretical and numerical questions	Final Exam	UNKNOWN	80 %	End of Term	1,2,3,4

Full Time Mode Workload

Type	Location	Description	Hours	Frequency	Avg Workload
Independent Learning	UNKNOWN	Personal study	3	Weekly	3.00
Lecture	Flat Classroom	Lecture	4	Weekly	4.00

Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Recommended Reading
2015-07-09 International Financial Reporting: A Practical Guide Pearson Education Limited
ISBN 1292086238 ISBN-13 9781292086231

INTERNATIONAL FINANCIAL REPORTING: A Practical Guide "If the accounting student was only to purchase one textbook in their student lives then it should without a doubt be Melville's International Financial Reporting" Raymond Holly, Galway-Mayo Institute of Technology (Ireland) With more than 120 countries in the world now using international financial reporting standards (IFRS), knowledge of the standards issued by the International Accounting Standards Board (IASB) is vital to students' success in financial accounting. Melville's International Financial Reporting employs a practical, applied approach in exploring and explaining the key international standards. With a focus on how to implement the standards, this text delivers a focused, user-friendly introduction to international financial reporting. Renowned for clear and concise language, this fifth edition brings the book completely up-to-date with international standards issued as of 1 January 2015. Key features * Unique practical approach * Class-tested by professional and degree students * Worked examples with solutions in every chapter * Chapter-end exercises featuring questions from past exam papers of key professional accountancy bodies Visit www.pearsoned.co.uk/melville for our suite of resources to accompany this textbook, including a complete solutions guide, PowerPoint slides for each chapter and opportunities for extra practice. Alan Melville FCA BSc Cert Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years' experience of teaching accounting and financial reporting.

Recommended Reading
2012-01-01 An Introduction to Financial Accounting McGraw Hill Higher Education
ISBN 9780077132682 ISBN-13 9780077132682

The new seventh edition of Introduction to Financial Accounting by Andrew Thomas and Anne Marie Ward has been fully revised and updated to reflect the very latest developments in this dynamic field and offers contemporary and comprehensive coverage of Financial Accounting today.

Recommended Reading
2015-08-28 International Financial Accounting and Reporting Chartered Accountants Ireland
ISBN 1910374296 ISBN-13 9781910374290

Module Resources

Non ISBN Literary Resources

The core text for this module is: Alan Melville, 2015 International Financial Reporting: A Practical Guide Pearson Education Limited ISBN-10 1292086238, ISBN-13 9781292086231

Andrew Thomas, 2012 An Introduction to Financial Accounting McGraw Hill Higher Education

International Financial Accounting and Reporting. Dr. Ciaran Connolly. Inst. of Chartered Accountants

Guidance and Standards issued by the IASB :

IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 8 Accounting policies

Relevant articles from the business press, professional accounting publications etc.

URL Resources

IFRS Foundation and the IASB website for IAS and IFRS standards, technical summaries and interpretations

http://www.ifrs.org/IFRSs/Pages/IFRS.aspx

IAS Plus website for IAS and IFRS news and updates

http://www.iasplus.com/en/standards

ACCA website for past examination papers

http://www.accaglobal.com/us/en/student/exam-support-resources.html

Other professional body websites for students:

http://students.charteredaccountants.ie/en/

http://www.cimaglobal.com/Students/

http://www.cpaireland.ie/study-cpa

Other Resources

Relevant articles from the business press, professional accounting publications etc.

Additional Information

None