Module Details

Module Code: ACCT7017
Title: Single Entity&Group Accounting
Long Title: Single Entity&Group Accounting
NFQ Level: Intermediate
Valid From: Semester 1 - 2017/18 ( September 2017 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 2 programme(s)
Module Description: This module deals with the preparation of financial statements for single entities and with the relevant reporting standards and simple groups consolidation
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the specialised skills required by the financial accountant in preparing financial statements
LO2 Explain the principles underlying the International Financial Reporting Standards relevant to the preparation of financial statements for single entities
LO3 Apply the International Financial Reporting Standards relevant to the preparation of financial statements for single entities
LO4 Prepare financial statements for single entities
LO5 Prepare group accounts for simple structures
Dependencies
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 MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
11491 ACCT7015 Company&Partnership Accounting
11574 ACCT7014 Financial Accounting Analysis
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
 
Indicative Content
Reporting standards - financial statements
Presentation; accounting policies; discontinued activities; FRS101 and FRS102 and comparison to IFRS/IAS
Reporting standards - specialised topics
Inventories; events after reporting date;construction contracts; taxes; property, plant and equipment; leases; grants; foreign exchange; impairment; provisions and intangibles; taxation
Financial statements
Statement of Profit or Loss and Other Comprehensive Income (Income statement), Statement of Changes in Equity and Statement of Financial Position (balance sheet) for single entities
Group Accounts
Outline the generally accepted accounting principles of the preparation of group accounts. Consolidated Statement of Financial Position - (one subsidiary only) including the calculation of goodwill, non-controlling interest, consolidated reserves, unrealised profit on inventory, inter-company trading, fair value adjustment of assets at the point of acquisition
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Week 8 Learning Outcomes 1,2,3
Assessment Description
Based on short scenarios presented students must prepare adjustments to, and extracts from, financial statements which comply with accounting standards.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3,4,5
Assessment Description
End-of-Semester Final Examination
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 University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Theory and practice of preparation of financial statements Every Week 3.00 3
Tutorial Contact Review of lecture material Every Week 1.00 1
Independent & Directed Learning (Non-contact) Non Contact Study of theory and practise of accounting Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Theory and practice of preparation of financial statements Every Week 2.50 2.5
Independent & Directed Learning (Non-contact) Non Contact Review of lecture material Every Week 4.50 4.5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.50
 
Module Resources
Recommended Book Resources
  • Margaret DArcy. (2015), An Introduction to Financial Accounting, 1st. Chartered Accountants Ireland, 2015, [ISBN: 978-1-907214].
  • Paul Mahony and Niall McLochlainn. (2013), Consolidated Financial Statements, 2nd. Chartered Accountants Ireland, Dublin, [ISBN: 9781908199478].
Supplementary Book Resources
  • Alan Melville. (2015), International Financial Reporting, 4th. FT Prentice Hall Harlow, Essex, [ISBN: 978-129208623].
Recommended Article/Paper Resources
  • Sunday Times - Business Section.
Supplementary Article/Paper Resources
  • Sunday Business Post.
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 5 Mandatory
CR_BACCT_7 Bachelor of Business in Accounting 5 Mandatory