Module Details

Module Code: ACCT6026
Title: Fin Accounting Fundamentals
Long Title: Financial Accounting Fundamentals
NFQ Level: Fundamental
Valid From: Semester 2 - 2021/22 ( January 2022 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 1 programme(s)
Module Description: This module provides students with an introduction to the concepts, principles, and practices of financial accounting.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Outline and define the basic accounting concepts and principles of accounting.
LO2 Record financial transactions in ledger accounts using the double entry system, balance accounts and prepare a trial balance, both individually and in collaboration with peers.
LO3 Explain and differentiate between capital and revenue expenditure and income.
LO4 Prepare the financial statements of a business.
LO5 Analyse and evaluate financial results to assess the financial performance of a business.
LO6 Outline the role of accounting in corporate social responsibility.
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).
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
Basic Accounting Concepts and Principles of Accounting
Books of first entry. Basic accounting concepts and principles. Stakeholders. The accounting equation.
Ledger Accounts
Types of accounts and ledgers. Double entry accounting, balancing accounts and preparation of a trial balance. The analysed cash book (including VAT) and posting to ledger accounts.
Capital and Revenue
Capital and revenue expenditure and income.
Financial Statements
Preparation of the financial statements of a company including the calculation of common adjustments.
Analyse Financial Results
The analysis, comparison and evaluation of financial results using ratios.
Corporate Social Responsibility
Social accounting. Corporate social responsibility and the triple bottom line.
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Project % of Total Mark 30
Timing Week 8 Learning Outcomes 1,2
Assessment Description
Group project around accounting fundamentals, ledger accounting and double entry content.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3,4,5,6
Assessment Description
Formal end of semester exam
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 Formal Lecture Every Week 4.00 4
Independent & Directed Learning (Non-contact) Non Contact Review of Theory and Practical Questions 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 Formal Lecture Every Week 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Review of Theory and Practical Questions Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Margaret D'Arcy. (2019), An Introduction to Financial Accounting, 2nd. Chartered Accountants Ireland, [ISBN: 9781912350285].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_FHEBU_8 Bachelor of Arts (Honours) in Home Economics and Business 2 Mandatory