Module Details

Module Code: ACCT B8002
Full Title: Foundation Accounting
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction:English
Duration: 2 Semesters
Credits:: 10
Module Owner:: Patrick Fitzgerald
Departments: Unknown
Module Description: This Module is designed to give learners understanding of the basics of Accounting
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Apply fundamental concepts of financial accounting, distinguishing between assets, liabilities, expenses and incomes.
MLO2 Maintain records of transactions from books of original entry.
MLO3 Prepare a bank reconciliation and other control account procedures
MLO4 Prepare financial statements for sole trader, partnership company & not for profit enterprises in accordance with international standards with post trial balance adjustments for inventories, Allowance for doubtful debts, accruals & prepayments, and depreciation.
MLO5 Set up and operate of an integrated accounting information system for a basic trading company using a computerised accounting package such as Sage Line 50.
MLO6 Interpret financial statements of a commercial enterprise and assess performance using ratio analysis.
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 DkIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
 
Module Indicative Content
Record keeping, bookkeeping, bank reconciliations. Internal controls.
Books of Original Entry & Nominal Ledger
Preparation of accounts to Trial Balance.
Books of Original Entry & Nominal Ledger
The concept of control accounts and preparation of subsidiary ledgers.
n/a
Introduction to the regulatory and conceptual framework of accounting.
IFRS & IAS introduction
The evolution of the International Accounting Standards Board.
n/a
Capital and Revenue Expenditure.
Tangible Non-Current Assets. Recognition. Depreciation.
Adjustments to accounts: accruals and prudence concepts.
Accruals and Prepayments
Preparation of Financial Statements
Income Statements, Statement of Financial Position and Statement of Changes in Equity
Credit Control and treatment of Bad Debts
n/a
Financial Statements of entities with differing capital structures.
Rudimentary partnership: Partners’ capital and current accounts; appropriation account. Company accounts: Legal aspectc. Share Capital and Reserve; Loan Stock. Company Income Statement, Statement of Changes in Equity, Statement of Financial Position
Basic Ratio Analysis
Interpretation of accounts of Sole Traders, Partnerships & Companies
Introduction to SAGE 50
Chart of Accounts Introduction , Set up and maintain Payables and Receivables control accounts. Input transactions from source documents
Module Assessment
Assessment Breakdown%
Course Work20.00%
Final Examination80.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Class Test % of Total Mark 10
Marks Out Of 0 Pass Mark 0
Timing S1 Week 11 Learning Outcome 2
Duration in minutes 0
Assessment Description
Individually assessed class test
Assessment Type Class Test % of Total Mark 10
Marks Out Of 0 Pass Mark 0
Timing S2 Week 23 Learning Outcome 5
Duration in minutes 0
Assessment Description
Application of set-up & record keeping in Accounting Software package like SAGE 50 Individually assessed
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 80
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 1,2,3,4,6
Duration in minutes 0
Assessment Description
End-of-Year Final Examination
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

Workload: Full-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Once per semester 3.00 45
Practical Contact This will include laboratory hours working on Sage Line 50 accounting system Once per semester 1.00 15
Directed Reading Non Contact No Description Once per semester 1.00 15
Independent Study Non Contact No Description Once per semester 4.00 60
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 4.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Directed Reading Non Contact No Description Every Week 1.00 1
Lecturer Supervised Learning (non-contact) Non Contact No Description Every Week 4.00 4
Directed Reading Non Contact No Description Every Week 2.00 2
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 6.00
 
Module Resources
Recommended Book Resources
  • Morris, Brian. (2018), The Road to Accounting, 17th. The Road to Accounting, College Services, DkIT, [ISBN: ESSENTIAL].
Supplementary Book Resources
  • Frank Wood. (14), Business Accounting 1, 2018. Pearson, London, [ISBN: 1292208627].
This module does not have any article/paper resources
Other Resources
  • Relevant International Financial Reporting Standards.
  • Professional Institute Accounting Journals.
  • Accounting Press.
  • Company Annual Reports.