ACCT08033 2022 Financial Reporting 5
Full Title
Financial Reporting 5
Transcript Title
Financial Reporting 5
Code
ACCT08033
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
08 - 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_H08 202200 Bachelor of Arts (Honours) in Accounting
SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting
SG_BACCO_K08 202300 Bachelor of Business (Honours) in Business with Accounting
Description
The aim of this module is to develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Discuss conceptual and regulatory frameworks for financial reporting
2.
Account for transactions in accordance with IFRS
3.
Analyse and interpret financial statements
4.
Prepare and present financial statements for partnerships
5.
Prepare and present financial statements for single entities in accordance with IFRS
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
ACCT07030 201600 Financial Reporting 4
Incompatibles
ACCT08034 202200 Financial Accounting 7
Indicative Syllabus
LO1 - Apply conceptual and regulatory frameworks for financial reporting
- Discuss the need for a conceptual framework and the characteristics of useful information.
- Explain recognition criteria and measurement concepts
- Describe the regulatory framework
- Compare IFRS and a national regulatory framework
LO2 - Account for transactions in accordance with IFRS
- Accounting for transactions in financial statements including tangible non-current assets, intangible assets, impairment of assets, inventory, leasing, taxation, reporting financial performance and government grants.
LO3 - Analyse and interpret financial statements
- Prepare a statement of cash flows for a single entity in accordance with relevant accounting standards.
- Compare the usefulness of cash flow information with that of other financial statements.
- Interpret a statement of cash flows (together with other financial information) to assess the performance and financial position of an entity.
LO4 - Prepare and present financial statements for partnerships
LO5 - Prepare and present financial statements for single entities in accordance with IFRS
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 | Coursework Assessment | Assessment | 20 % | Week 8 | 1,2 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Written test containing theoretical and numerical questions | 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 | Not Specified | 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
2021 FINANCIAL REPORTING - STUDY TEXT.
ISBN 1787408604 ISBN-13 9781787408609
Recommended Reading
2019 International Financial Reporting 7th Edition
ISBN 1292293128 ISBN-13 9781292293127
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
2018 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING.
ISBN 1912350025 ISBN-13 9781912350025
Recommended Reading
2022 Financial Accounting and Reporting Pearson Education Limited
2022 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
Additional Information
None