Module Code: A6FAR
Long Title Financial Accounting and Reporting
Title Financial Accounting and Reporting
Module Level: LEVEL 6
EQF Level: 5
EHEA Level: Short Cycle
Credits: 10
Module Coordinator: Deirdre Bane
Module Author: Deirdre Bane
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Demonstrate a knowledge and ability to appraise the concepts and theories that underpin financial accounting and its development
LO2 Discuss the legal and regulatory framework in which financial reporting in Ireland occurs.
LO3 Apply the principles of double-entry to record, process and summarise financial data in an entity’s accounting system
LO4 Apply the rules of accounting standards in accounting for business transactions
LO5 Prepare financial statements for single entities in accordance with applicable company law and accounting standards.
LO6 Evaluate and critically appraise the financial statements of an entity from the perspective of a wide range of stakeholders and prepare reports communicating this appraisal
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Nature of Accounting
Objectives of financial accounting; fundamental concepts and valuation bases; elements of financial statements; the accountant's role in society; users of accounting information; qualitative characteristics of financial information; recognition and measurement principles; limitations of accounting information; conceptual framework in accounting; code of ethics for professional accountants
Regulatory Framework
Regulatory framework for financial reporting in Ireland; true & fair view; FRS102 vs IFRS; Companies Act 2014
Accounting Records and the Financial Reporting System
Principles of double entry book-keeping; nominal ledger; trial balance; financial statements; reconciliation statements; control accounts.
Accounting Standards
Application of rules of international accounting standards to include but not limited to: the accounting of inventory (IAS 2) and non-current assets (IAS 16).
Company Accounting
Public vs Private company; presentation of final statements for single entities in accordance with the Companies Acts and Accounting Standards
Analysis and Interpretation
Objectives of analysis and interpretation of financial statements; cash vs profit; ratio calculations in the areas of performance, efficiency, liquidity, gearing and investment appraisal; users interest in ratios, limitations of ratio analysis. Preparation of reports on analysis to wide range of stakeholders, justifying any recommendations made.
Assessment Breakdown%
Coursework40.00%
End of Module Assessment60.00%

Assessments

Full Time

Coursework
Assessment Type: CA 1 (0380) % of total: 10
Assessment Date: n/a Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
- This will be a one-hour examination designed to examine learners’ understanding of accounting concepts and their ability to apply the principles of double entry to record, process and summarise financial data.
Assessment Type: CA 2 (0390) % of total: 30
Assessment Date: n/a Outcome addressed: 6
Non-Marked: No
Assessment Description:
– This will be a presentation to the class and the submission of a report on the evaluation of a company’s or companies performance and financial position
End of Module Assessment
Assessment Type: Terminal Exam % of total: 60
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4,5,6
Non-Marked: No
Assessment Description:
The end of semester examination consists of a two-hour examination made up of two sections: Section A (80%) – Compulsory – Preparation of financial statements in accordance with international accounting standards and applicable company law, including the ability to select and apply appropriate standards to a range of business transactions. Analysis of the Financial Statements and report thereon. Section B (20%) – Choice – Theoretical - Critically evaluating the conceptual framework underlying financial accounting and its development; appraising and commenting on the legal and regulatory framework for financial reporting in Ireland; FRS 102 v IFRS; Ethical issues; other topical issues in
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Learners will have 36 hours a semester of college-based classroom contact (3 hours per week). Of these, 36 hours will be whole-class lectures and / or other tutor supervised learning activities. There are 13 week teaching timetabled within each semester, with a ‘reading week’ approximately half way through this period in which there will be no formal classes but in which learners will be engaged in tutor supervised independent learning, typically in preparation for assessments or other learning 26 Every Week 26.00
Tutorial No Description 13 Every Week 13.00
Independent Learning No Description 155 Every Week 155.00
Directed Learning Directed elearning 28 Every Week 28.00
Workbased learning No Description 28 Every Week 28.00
Total Weekly Contact Hours 95.00
 

Module Resources

Recommended Book Resources
  • D'Arcy, Margaret. (2015), An introduction to Financial Accounting, Chartered Accountants Ireland.
  • Chartered Accountants Ireland. International Financial Accounting & Reporting, 2015. Chartered Accountants Ireland.
Supplementary Book Resources
  • Wood, F and Robinson, S.. Book Keeping and Accounts, 8th. Pearson Education.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: