Module Details

Module Code: ACCT B7004
Full Title: Financial Accounting
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction: 
Duration: 1 Semester
Credits:: 5
Module Owner:: Patrick Fitzgerald
Departments: Unknown
Module Description: no description provided
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Explain how the recording of accounting information is completed via bookkeeping and presented to the relevant parties in the financial statements.
MLO2 Complete the recording of information via the double entry system to the trial balance stage.Plus highlight the documents used in a basic accounting system, how these are recorded in the original books of entry, how double entry bookkeeping occurs and how a set of financial statements is produced.
MLO3 Prepare, in accordance with standard accounting practices a basic set of financial statements with the relevant adjustments to the trial balance to produce a set of financial statements.for organisations of varying capital structures.
MLO4 Analyse specified accounting concepts and theories.Outline the difference between profit and cash flow. Interpret the performance of a business in a set of financial statements plus outline ratio analysis for such financial statements.
MLO5 Classify the accounting conventions underlying the preparation of the financial statements.
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
The role of accountant and accountancy in business
Introduction to the nature of accounting, various users of accounts and basic principles such as the accounting period
The rules and concept underpinning modern accountancy
Application of fundamental accounting concepts
Recording accounting information via the double entry system
Balance nominal ledger accounts and complete Trial Balance
Basic financial statement
Prepare Income statement, Statement of changes in Equity, Statement of Financial Position with adjustments for closing stock , Depreciation & Bad Debts
Interpretation of Accounts
Use of Ratio Analysis to assess financial performance of the entity
Introduction to costing, Cost classification, Prime Costs, Overheads
Distinction between Financial Accounting & Management Accounting . Introduction to the nature and behaviour of costs
Module Assessment
Assessment Breakdown%
Course Work30.00%
Final Examination70.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Class Test % of Total Mark 30
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 1
Duration in minutes 0
Assessment Description
Individually assessed class test
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 70
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 2,3,4,5
Duration in minutes 0
Assessment Description
End-of-Semester Final Examination

Part-time

Course Work
Assessment Type Class Test % of Total Mark 30
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 1
Duration in minutes 0
Assessment Description
N/A
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 70
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 2,3,4,5
Duration in minutes 0
Assessment Description
End-of-Semester 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 Every Week 3.00 3
Directed Reading Non Contact No Description Every Week 2.00 2
Independent Study Non Contact No Description Every Week 4.00 4
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 3.00 3
Directed Reading Non Contact No Description Every Week 2.00 2
Independent Study Non Contact No Description Every Week 3.00 3
Total Weekly Learner Workload 8.00
Total Weekly Contact Hours 3.00
 
Module Resources
Recommended Book Resources
  • Sangster, A., Gordon, L. and Wood, F. (2018), Frank Wood's business accounting, 14th. FT Prentice Hall, [ISBN: 1292208627].
  • Dyson, J. and Franklin, E. (2017), Accounting for non-accounting students, 9th. Pearson, Harlow, [ISBN: 1292128976].
Supplementary Book Resources
  • Morris, BrianO Neill Pat. (2012), The Road to Accountancy, 17th. DKIT College Services, [ISBN: 2004ISBN].
  • Dyson, J.R.. Accounting for Non Accounting Students ISBN:, Prentice Hall.
  • Woods, Frank Sangster, A. Business Accounting 2 ISBN: 0-273-637742-8, Pitman.
  • Woods and Robinson. Costing and Business Accounting ISBN:, Irish Edition Pitman.
This module does not have any article/paper resources
Other Resources
  • Professional Institute Accounting Journal.
  • Accounting Press.
  • Company Annual Reports.
  • ICT Interactive Platform, MacBlain M., Fanning, L., Brennan,S. (2012), NDLR Faster, DkIt, Ait, Carlow IT.