ACCT07030 2016 Financial Reporting 4

General Details

Full Title
Financial Reporting 4
Transcript Title
Financial Reporting 4
N/A %
Subject Area
ACCT - Accounting
BUS - Business
07 - NFQ Level 7
05 - 05 Credits
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Caroline McNulty, Helen Grady
Programme Membership
SG_BACCO_H08 202100 Bachelor of Arts (Honours) in Business in Accounting L8

Examine further accounting standards issued by the IASB thereby enabling students to apply them in the preparation of accounts for a range of businesses.

Learning Outcomes

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

Prepare financial statements for different business structures

Discuss and apply the rules of a selection of International Accounting Standards to financial statements.


Interpret and report on a given set of financial statements

Teaching and Learning Strategies

The strategy is based on a mix of

Lecture Strategy used to introduce each topic to students. It is used as a means of conveying information on a new topic to students.

Active Learning where students produce written work during the lecture. This aims to improve students' understanding and retention of information and can be very effective in developing higher order cognitive skills such as problem solving and critical thinking.

Discussion Strategies where students are engaged in discussion to deepen their learning and motivation by propelling them to develop their own views and hear their own voices. It provides a good environment for interaction and is the first step in encouraging students to talk.

Module Assessment Strategies

 Final Exam Written exam including numerical and/or theoretical questions

Repeat Assessments

Final exam

Module Dependencies

ACCT07015 201600 Financial Reporting 3

Indicative Syllabus

Prepare year end financial statements for limited companies (excluding groups) including cash flow statements.

Examine a given set of financial statements, calculate suitable ratios and prepare a comprehensive report.



Coursework & Assessment Breakdown

End of Semester / Year Formal Exam
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 In class Q/A sessions:::: also MCQ's Formative Open Book Exam - % OnGoing 1,2,3
2 Problem solving practice Formative UNKNOWN - % OnGoing 1,2,3

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Written exam including numerical and/or theoretical questions Final Exam Closed Book Exam 100 % End of Term 1,2,3

Full Time Mode Workload

Type Location Description Hours Frequency Avg Workload
Independent Learning UNKNOWN Personal Study 2 Weekly 2.00
Lecture Flat Classroom Lecture 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Recommended Reading
2015-07-09 International Financial Reporting: A Practical Guide Pearson Education Limited
ISBN 1292086238 ISBN-13 9781292086231

INTERNATIONAL FINANCIAL REPORTING: A Practical Guide "If the accounting student was only to purchase one textbook in their student lives then it should without a doubt be Melville's International Financial Reporting" Raymond Holly, Galway-Mayo Institute of Technology (Ireland) With more than 120 countries in the world now using international financial reporting standards (IFRS), knowledge of the standards issued by the International Accounting Standards Board (IASB) is vital to students' success in financial accounting. Melville's International Financial Reporting employs a practical, applied approach in exploring and explaining the key international standards. With a focus on how to implement the standards, this text delivers a focused, user-friendly introduction to international financial reporting. Renowned for clear and concise language, this fifth edition brings the book completely up-to-date with international standards issued as of 1 January 2015. Key features * Unique practical approach * Class-tested by professional and degree students * Worked examples with solutions in every chapter * Chapter-end exercises featuring questions from past exam papers of key professional accountancy bodies Visit for our suite of resources to accompany this textbook, including a complete solutions guide, PowerPoint slides for each chapter and opportunities for extra practice. Alan Melville FCA BSc Cert Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years' experience of teaching accounting and financial reporting.

Recommended Reading
2012-01-01 An Introduction to Financial Accounting McGraw Hill Higher Education
ISBN 9780077132682 ISBN-13 9780077132682

The new seventh edition of Introduction to Financial Accounting by Andrew Thomas and Anne Marie Ward has been fully revised and updated to reflect the very latest developments in this dynamic field and offers contemporary and comprehensive coverage of Financial Accounting today.

Recommended Reading
2015-08-28 International Financial Accounting and Reporting Chartered Accountants Ireland
ISBN 1910374296 ISBN-13 9781910374290

Module Resources

Non ISBN Literary Resources

Alan Melville, 2015 International Financial Reporting: A Practical Guide Pearson Education Limited
ISBN-10 1292086238, ISBN-13 9781292086231Alan Melville, 2015 International Financial Reporting: A Practical Guide (5th Edition) Prentice Hall

Andrew Thomas, 2012 An Introduction to Financial Accounting McGraw Hill Higher Education

International Financial Accounting and Reporting. Dr. Ciaran Connolly. Inst. of Chartered Accountants

Guidance and Standards issued by the IASB:

IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 7 Cash Flow Statewents IAS 8 Accounting policies

IAS 10 Events after the reporting period IAS 12 Income Taxes (Current tax only) IAS 16 Property, plant and equipment

IFRS 15 Revenue from Contracts with Customers  IAS 20 Government grants IAS 40 Investment Properties

URL Resources

IFRS Foundation and the IASB website for IAS and IFRS standards, technical summaries and interpretations

IAS Plus website for IAS and IFRS news and updates

ACCA website for past examination papers

Other professional body websites for students:

Other Resources

Relevant articles from the business press, professional accounting publications etc.

Additional Information