This module provides students with an opportunity to further develop the concepts, principles and practices of financial accounting introduced in the module Fundamentals of Financial Accounting.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1
Apply financial accounting control methods.
LO2
Apply the methods used in incomplete accounting records situations.
LO3
Calculate and interpret financial accounting ratios.
LO4
Prepare financial statements for non profit organisations.
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.
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
Financial Accounting Controls
Sales ledger and purchases ledger control accounts, bank reconciliations, correction of errors and accounting ratios.
Incomplete records
Preparation of financial statements from
incomplete financial accounting records.
Accounts preparation
The preparation of accounts for non profit organisations.
Interpretation of financial statements
Ratio analysis of accounting statements of sole traders. Interpretation and explanation of the ratios used.
Assessment Breakdown
%
Course Work
30.00%
End of Module Formal Examination
70.00%
Course Work
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Short Answer Questions
In Class Assessment
1
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
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
3.0
Every Week
3.00
Tutorial
Questions and answers
1.0
Every Second Week
0.50
Independent & Directed Learning (Non-contact)
Accounting exercises and readings
3.5
Every Week
3.50
Total Hours
7.50
Total Weekly Learner Workload
7.00
Total Weekly Contact Hours
3.50
Workload: Part Time
Workload Type
Workload Description
Hours
Frequency
Average Weekly Learner Workload
Lecture
Formal lecture
1.5
Every Week
1.50
Tutorial
Questions and answers
0.5
Every Second Week
0.25
Independent & Directed Learning (Non-contact)
Accounting exercises and readings
5.5
Every Week
5.50
Total Hours
7.50
Total Weekly Learner Workload
7.25
Total Weekly Contact Hours
1.75
Module Resources
Recommended Book Resources
Margaret D`Arcy 2015, An Introduction To Financial Accounting, First Ed., 9,10,11,13,14,34, Chartered Accountants Ireland Dublin [ISBN: 9781907214615]
This module does not have any article/paper resources
Other Resources
Website: The Institute of Chartered Accountants
in Ireland