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AUTO6020 - Accounting For Automotive Apps

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Title:Accounting For Automotive Apps
Long Title:Accounting For Automotive Apps
Module Code:AUTO6020
 
Duration:1 Semester
Credits: 5
NFQ Level:Fundamental
Field of Study: Automotive Engineering
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 3 programme(s)
Module Coordinator: NIALL MORRIS
Module Author: MARTIN O SULLIVAN
Module Description: Financial Accounting for the Non-Financial personnel involved at all levels of the Automotive industry
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Describe the function of Financial Accounting
LO2 Explain basic Accounting concepts
LO3 Record financial transactions using the double entry system
LO4 Prepare financial statements for sole traders
LO5 Calculate and interpret financial ratios
LO6 Discuss the nature of VAT and Income Tax
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
 

Module Content & Assessment

Indicative Content
Accounting Concepts and Conventions
Basis of book-keeping and accounting
Elementary Accounting
Double Entry book-keeping. Trial Balance,Receivables,Payables,Bank reconciliations
Final Accounts
Trading Account,Income Statement and statement of financial position. Preparation and Interpretation of the above
Depreciation
Accounting for Depreciation,Asset Disposal.Theory of Depreciation
Control Accounts
Preparation of Receivable and Payable control accounts.
Value Added Tax
Nature of VAT.Calculating the liability and accounting for same.
Wages/PAYE/PRSI
Completing Tax Deduction Cards,accounting for Income Tax
Elements of Financial Management
Budgetary Control,Ratio Analysis, Forecasting
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions In class assessment of material covered to date 1,2,3,4 30.0 Week 8
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5,6 70.0 End-of-Semester
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.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Formal Lecture 4.0 Every Week 4.00
Independent & Directed Learning (Non-contact) Study of Specific Financial Issues 3.0 Every Week 3.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Formal Lecture 3.0 Every Week 3.00
Independent Learning No Description 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Frank Wood & Sheila Robinson 2013, Book-Keeping and Accounts, 8th Ed., Pearson Education Limited HarlowUnited Kingdom [ISBN: 0273773062]
This module does not have any article/paper resources
This module does not have any other resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_EABMT_8 Bachelor of Science (Hons) in Automotive Business Management and Technology 4 Mandatory
CR_TTMGT_7 Bachelor of Science in Automotive Technology and Management 4 Mandatory
CR_TTMAT_6 Higher Certificate in Engineering in Automotive Technology and Management 4 Mandatory

Cork Institute of Technology
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Email: help@cit.edu.ie