Full Title:Financial Accounting 1
Module Code:ACCT B8Z03
Credits: 5
Valid From:Semester 1 - 2013/14 ( September 2013 )
Module Delivered in 1 programme(s)
Module Description:Set the foundations to enable learners to understand the basic concepts of accounting
Learning Outcomes:
On successful completion of this module the learner should be able to
  1. Explain the basic concepts which underlie the provision of financial accounting information,
  2. Undertake the necessity record keeping required to prepare a basic set of financial accounts from original transactions.
  3. Distinguish between capital and revenue expenditure and calculate & record depreciation, acquisition and disposal of fixed assets.
  4. Demonstrate the recording of accruals and prepayments
  5. Use control accounts for Receivables, Payables and Banking transactions
  6. Prepare a set of financal statements for a sole trader

Module Content & Assessment

Indicative Content
Recording Business Transactions:
Basic business documents: how they are prepared and recorded in the books of original entry: balancing the nominal ledger and extracting the trial balance; adjustments to the trial balance viz. accruals, prepayments, closing stock, depreciation, bad and doubtful debts.
The need for internal controls:
bank reconcialitions: control account reconciliations: creditor reconciliations.
Measuring and reporting the financial position:
Users of accounts: forms of business organisations: the balance sheet: the effects of transactions on the balance sheet: the Income Statement: profit measurement difficulties viz. the accruals or matching concept: accounting conventions: the double entry system and the trial balance.
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%

Full Time

Course Work
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Class Test Students will be required to submit assignments throughout the semester. These will typically be worked solutions to problems presented in class. A formal class test will also take place during the semester. 1,2 30.00 0 0 n/a 0
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Formal Exam End-of-Semester Final Examination 3,4,5,6 70.00 0 0 End-of-Semester 0
Reassessment Requirement
A 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.

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


Module Workload & Resources

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Class based lectures with notes and other material available through Moodle 3.00 Every Week 3.00
Directed Reading Requirement to read quality newspapers, business journals and supplementry texts 2.00 Every Week 2.00
Independent Study complete assigments and prepare for for in exercises 4.00 Every Week 4.00
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
This course has no Part Time workload.
Recommended Book Resources
  • Wood Frank & Sangster Alan, Frank Woods Business Accounting 1 8th Edition ISBN 0-273-63742-8, Financial Times Pitman Publishing
Supplementary Book Resources
  • Dyson J.R., Accounting for Non Accountants 2003 ISBN: 0273683853, FT Prentice Hall
  • Atrill P & McLaney E, Accounting: An Introduction. Dec 2004 ISBN: 0273688227, FT Prentice Hall
  • Ursula Mooney 2000, Accounting Eoro Edition, ÔéČuro edition Ed., Gill & MacMillan Dublin [ISBN: 978 07171 31815]
This module does not have any article/paper resources
Other Resources
  • n/a: Websites to accompany the supplementary texts
  • n/a: Business Journals
  • n/a: Quality National Newspapers
  • n/a: Relevant Accounting Journals
  • Website: www.cro.ie : accaglobal.com: iati.ie : cimaglobal.comn/a

Module Delivered in

Programme Code Programme Semester Delivery
DK_BBUST_8 Bachelor of Business (Honours) 1 Mandatory