Registry

Module Specifications

Current Academic Year 2012 - 2013
Please note that this information is subject to change.

Module Title	Financial Accounting for Companies
Module Code	AC544
School	DCUBS
Online Module Resources
Module Co-ordinator	Semester 1: Maria Scanlon Semester 2: Maria Scanlon Autumn: Maria Scanlon
Module Teacher	Maria Scanlon
NFQ level	8	Credit Rating	10
Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

Description

The aims of this course are as follows: (a) to provide students with an understanding of the conceptual and the regulatory framework that underlies financial reporting, (b) to develop students' ability to prepare published finanacial statements for individual corporate entities and basic groups, in accordance with applicable company law and International Financial Reporting Standard (IFRS) as adopted in the EU. (c) to enable students to critically evaluate and interpret financial statements and prepare reports thereon, (d) to give students an awareness of the significance of professional ethics in fianancial reporting.

Learning Outcomes

1. Identify the legal and professional regulatory framework which applies to financial reporting and discriminate between the various international frameworks.
2. Discuss the conceptual issues surrounding the objectives of financial reporting.
3. Define the role of the accountant in the preparation and reporting of financial information, and specify ethical issues that may impact his/her work.
4. Prepare financial statements suitable for publication for individual corporate entities in accordance with applicable company law and International Financial Reporting Standard (IFRS) as adopted in the EU.
5. Prescribe the appropriate accounting treatment for various issues in accordance with International Financial Reporting Standards.
6. Calculate the profit available for distribution in accordance with Irish Company Law for private limited companies and for listed companies.
7. Assess the financial position and performance of a company using financial statement analysis techniques and compile internal and external reports for a variety of users based on the results of the analysis.
8. Explain the concepts and principles of group accounting and prepare basic consolidated financial statements in accordance with applicable company law and IFRS/IAS.

Workload	Full-time hours per semester
*Type*	*Hours*	*Description*
Lecture	60	Five hours a week for one semester
Tutorial	12	One hours a week for 12 weeks
Directed learning	120	Reviewing lecture material and attempting assigned practical questions in advance of lectures and seminars
Examination	3	Final Exam
Independent learning	55	Reading textbook, revising, preparing for exams
Total Workload: 250

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

Financial Reporting.
Objectives of financial reporting, the legal and professional regulatory framework of accounting, the basic principles of accounting, alternative valuation bases and capital maintenance; users of financial statements and their needs, alternative valuation bases, capital maintenance, recognition and measurement of elements and the true and fair view..

Published Accounts.
Statement of comprehensive income, statement of changes in equity and statement of financial position and disclosure notes relating to accounting policies, property, plant and equipment, borrowing costs, inventory, events after the the reporting period end, earnings per share, construction contracts, income tax, revenue, government grants, financial instruments, impairment of assets, provisions, contingent liabilities, intangible assets, investment property, leases..

Cash Flow Statements.
The objectives, advantages and limitations of a statement of cash flows.Analysis, interpretation and limitations of financial statement ratios..

Group Accounts.
The concept and principles of a group; introduction to the preparation of consolidated financial statements..

Assessment Breakdown
Continuous Assessment	0%	Examination Weight	100%

Course Work Breakdown
Type	Description	% of total	Assessment Date

Reassessment Requirement
Resit arrangements are explained by the following categories; 1 = A resit is available for all components of the module 2 = No resit is available for 100% continuous assessment module 3 = No resit is available for the continuous assessment component
This module is category 1

Indicative Reading List

Melville, A.: 2011, International Financial Reporting, 3rd Edition, FT Prentice Hall,
Elliott, B. and Elliott, J.: 2011, Financial Accounting and Reporting, 15th Edition, FT Prentice Hall,
Connolly, Ciaran: 2011, International Financial Accounting and Reporting, 3rd Edition, Chartered Accountants Ireland,
Alexander, Britton and Jorissen: 2011, International Financial Reporting and Analysis, 5th Edition, South Western Cengage Learning,

Other Resources

None

Array

Programme or List of Programmes

PBSSA

PG Exchange(Business School)

PDA

Professional Diploma in Accounting

Timetable this semester: Timetable for AC544

Date of Last Revision

12-JAN-11

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