ACCT08032 2022 Financial Accounting 8

General Details

Full Title
Financial Accounting 8
Transcript Title
Financial Accounting 8
Code
ACCT08032
Attendance
N/A %
Subject Area
ACCT - Accounting
Department
BUS - Business
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Caroline McNulty, Aileen Brennan, Helen Grady
Programme Membership
SG_BACCO_K08 202200 Bachelor of Business (Honours) in Business with Accounting (Add-on)
Description

The aim of the module is to develop knowledge and skills in understanding and applying IFRS and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

Learning Outcomes

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

1.

Discuss conceptual and regulatory frameworks for financial reporting

2.

Identify emerging trends and disruptive technologies in financial reporting

3.

Account for transactions in accordance with IFRS

4.

Prepare and present financial statements for business combinations in accordance with IFRS

5.

Analyse financial statements

Teaching and Learning Strategies

The student will engage with the content of the module through pre-lecture reading, informative video presentations, lectures and quizzes.

The student will develop an understanding of module content through technical articles and use of software applications to complete and review examples.

The student will apply their learning through completion of practical exercises.

Module Assessment Strategies

Objective test and final written examination

Repeat Assessments

Repeat objective test and / or final examination

Module Dependencies

Prerequisites
ACCT08034 201600 Financial Accounting 7
Co-requisites
None
Incompatibles
ACCT08031 201600 Financial Reporting 6 None

Indicative Syllabus

LO1 - Discuss conceptual and regulatory frameworks for financial reporting

  • Describe concepts and principles of groups and consolidated financial statements
  • Explore the role of the International Integrated Reporting Council (IIRC)
  • Explain integrated thinking
  • Discuss the International Framework

LO2 – Identify emerging trends and disruptive technologies in financial reporting

  • Describe current technology trends including big data, blockchain, machine learning and artificial intelligence
  • Discuss the potential impact of emerging trends and technologies on the accounting function

LO3 - Account for transactions in accordance with IFRS

  • Account for transactions in financial statements including financial instruments, provisions and events after the reporting period, reporting financial performance and revenue

LO4 - Prepare and present financial statements for business combinations in accordance with IFRS

  • Prepare consolidated financial statements including an associate

LO5 - Analyse financial statements

  • Discuss limitations of financial statements
  • Calculate and interpret accounting ratios
  • Analyse ratios and trends to address user and stakeholder needs
  • Explain the limitations of interpretation techniques

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
20 %
End of Semester / Year Formal Exam
80 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Objective testing Continuous Assessment Assessment 20 % Week 8 1,2,3
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Written test Final Exam Closed Book Exam 80 % End of Term 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Independent Learning UNKNOWN Personal study 3 Weekly 3.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2021 FINANCIAL REPORTING - STUDY TEXT.
ISBN 1787408604 ISBN-13 9781787408609
Recommended Reading
2019 International Financial Reporting 7th Edition
ISBN 1292293128 ISBN-13 9781292293127

International Financial Reporting delivers a focused, user-friendly introduction to international financial reporting and how to implement the IASB standards for undergraduate students.

Recommended Reading
2018 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING.
ISBN 1912350025 ISBN-13 9781912350025

Recommended Reading
Financial Accounting and Reporting Pearson Education Limited

Module Resources

Non ISBN Literary Resources

The core text for this module is: Kaplan (Current Year) Financial Reporting - Study Text.

Journal Resources
URL Resources

IFRS website for accounting standards, technical summaries, interpretations and news updates
https://www.ifrs.org/
 

Other professional body websites for student resources:

https://www.accaglobal.com/ie/en.html
https://www.charteredaccountants.ie/
https://www.cimaglobal.com/Our-locations/Ireland/
https://www.cpaireland.ie/

Other Resources

Module Moodle page

Relevant articles from professional journals available through the above professional body websites