Module Code: H7FA2
Long Title Financial Accounting 2
Title Financial Accounting 2
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: Theresa Cunningham
Module Author: Theresa Cunningham
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 Prepare the accounts of Partnerships.
LO2 Explain the important theories of accounting.
LO3 Conceptualise and use financial information as developed through improper accounting practices and techniques.
LO4 Apply their knowledge of International Accounting Standards to the preparation of Statements of Profit or Loss and Other Comprehensive Income and Statements of Financial Position for non-group companies.
LO5 Prepare Statements of Cash Flows in accordance with International Standards for non-group companies
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).
69002 H7FA2 Financial Accounting 2
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

Programme entry requirements  
 

Module Content & Assessment

Indicative Content
Accounting Theory (10%):
Definitions of theory - normative & positive theories. Regulatory Framework in Accounting. Conceptual Framework in Accounting. Ethical Issues in Accounting & Code of Ethics
Partnership Accounting (20%):
Capital and Current Accounts Appropriation Account. Profit Sharing. Goodwill. Revaluation of Assets. Incoming & Outgoing Partners. Dissolution of Partnerships. Conversion into a Limited Company.
Incomplete Records (20%):
Incomplete Records Accounting Systems
Specific Accounting Standards (10%):
Presentation of Financial Statements. Inventories. Accounting Policies, Changes in Accounting Estimates and Errors. Events after the reporting period. Property, Plant and Equipment. Accounting for government grants and disclosure of government assistance. Borrowing Costs. Provisions, Contingent Liabilities and Contingent Assets. Impairment of Assets. Intangible Assets. Investment Property.
Company Accounting (20%):
Preparation and presentation of published financial statements for non-group entities in accordance with International Accounting Standards and relevant legal requirements.
Statement of Cash Flows (10%):
Objectives of cash flow information, distinction between profit and cash; advantages and limitations of statements of cash flow, the requirements of International Accounting Standards for single entities.
Analysis of Financial Statements including Cash Flows (10%):
Interpretation of the financial information from the point of view of users of the financial statements
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 15
Assessment Date: n/a Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
Candidates are required to complete two in-class examinations.
Assessment Type: Continuous Assessment % of total: 15
Assessment Date: n/a Outcome addressed: 2,3,4,5
Non-Marked: No
Assessment Description:
Candidates are required to complete two in-class examinations.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4,5
Non-Marked: No
Assessment Description:
Final Examination
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.
Reassessment Description
Candidates will attempt the repeat assessment for the module, if they do not successfully pass the module. Learners are required to attempt all assessments attaching to a module. For those modules where all learning outcomes are assessable with a final examination, the student does not have to re-sit failed individual CA components.

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

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Classroom and demonstrations 2 Every Week 2.00
Lecturer Supervised Learning Mentoring and small-group tutoring 1 Every Week 1.00
Directed Learning Directed e-learning 3 Every Week 3.00
Independent Learning Independent learning 8 Every Week 8.00
Total Weekly Contact Hours 6.00
 

Module Resources

Recommended Book Resources
  • Margaret D'Arcy. (2019), An Introduction to Financial Accounting, 2nd Ed. Chartered Accountants Ireland, [ISBN: 978-1-912350-28-5].
  • Ciaran Connolly. (2018), International Financial Accounting and Reporting, 6th.
  • Financial Reporting Toolkit. (Online Resource) Chartered Accountants Ireland.
Supplementary Book Resources
  • B Elliott & J Elliott. Financial Accounting and Reporting, 17th Edition. FT Prentice Hall.
This module does not have any article/paper resources
Other Resources
  • [Website], IFRS® Standards: IASB IFRS Foundation.
  • [Website], Supplementary Texts.
Discussion Note: