ACCT06030 2016 Financial Accounting 2

General Details

Full Title
Financial Accounting 2
Transcript Title
Financial Accounting 2
Code
ACCT06030
Attendance
N/A %
Subject Area
ACCT - Accounting
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Caroline McNulty, Gary Reynolds
Programme Membership
SG_BACCO_C06 201600 Higher Certificate in Business in Accounting L6 SG_BOFFI_C06 201600 Higher Certificate in Business in Office Administration SG_BADMN_B07 201600 Bachelor of Business in Business Administration L7 SG_BBUSI_C06 201600 Higher Certificate in Business SG_BBUSS_B07 201600 Bachelor of Business in Business L7 SG_BBUSI_H08 201600 Bachelor of Business (Honours) in Business L8 (Ab-initio) SG_BEMBE_G07 201600 Bachelor of Business in Embedded award of BB Ab-initio L8 SG_BEMBE_G06 201600 Higher Certificate in Business in Embedded award of BB Ab-initio L8
Description

Introduce the key principles and concepts of accounting and how they are applied in the preparation of financial statements. Students will gain an insight into the how financial accounting principles are applied to the preparation of Financial statements .

 

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Explain the importance of and application of ethical principles within the business environment

2.

Prepare Income Statement and Statement of Financial Position 

3.

Apply best practice in the preparation of financial statements for sole traders

4.

Complete basic transactions on Tas books computerised accounts and interpret the computerised reports.

Teaching and Learning Strategies

Comprises of Lectures, Tutorials & computer labs (tas books).

Module Assessment Strategies

Written Exam and/ or Moodle Quiz with theory and numerical content.

Repeat Assessments

Written Exam and/ or Moodle Quiz with theory and numerical content.

Indicative Syllabus

Introduction to principles and concepts within financial accounting

Double entry bookkeeping , Accounting equation, Daybooks, ledgers, Vat and trial balance

Correction of trial balance adjustments and errors; journal entries, control accounts, depreciation, accruals, prepayments, bad debts and doubtful debts provisions. 

Prepare a Bank Reconciliation

Preparation of Income statement and Statement of financial position

Computerised Accounts

 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Multiple Choice Class Quizzes/ MCQ Continuous Assessment UNKNOWN 0 % OnGoing 1,2,3
2 Continuous Assessment Computerised Accounts case study Continuous Assessment UNKNOWN 40 % OnGoing 4
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Written Exam Final Exam UNKNOWN 60 % End of Term 1,2,3
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 4 Weekly 4.00
Tutorial Computer Laboratory Lab 2 Fortnightly 1.00
Independent Learning UNKNOWN Personal study 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 5.00 Hours

Required & Recommended Book List

Recommended Reading
2015-10-15 Frank Wood's Business Accounting Pearson Education Limited
ISBN 1292084669 ISBN-13 9781292084664

'An excellent book, well written with each chapter building logically on the last, allowing students to build their knowledge in manageable steps.' Stephen McNamee, University of Ulster The world's best-selling textbook on book-keeping and accounting, Business Accounting Volume 1 continues to provide an indispensable introduction for students and professionals across the globe. It is renowned for its clarity, with easy-to-understand language and a plethora of examples to aid your understanding. In the 13th edition, which is fully compliant with International Financial Reporting Standards (IFRS), all topics have been fully updated, including areas such as computerised accounting, banking, and accounting concepts and assumptions. With a brand new Chapter 2 on double entry, and more than 100 new review questions and activities, this edition contains all you need to understand and consolidate the key concepts in accounting. Please note that the product you are purchasing does not include MyAccountingLab. MyAccountingLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyAccountingLab to accelerate your learning? You need both an access card and a course ID to access MyAccountingLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyAccountingLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyAccountingLab (ISBN:9781292088549) 4. If your lecturer is using the MyLab and you would like to purchase the product...Go to www.myaccountinglab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator

Module Resources

Other Resources

None

Additional Information

In semester 2 students must select either of the following modules as a mandatory module: Module ref: Acct06030 Financial accounting 2 or Acct06033 Accounting & Payroll.