Registry

Module Specifications

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

Module Title Accounting & Tax for Sustainability
Module Code AC566
School DCUBS
Online Module Resources

Module Co-ordinatorSemester 1: Claire Kearney
Semester 2: Claire Kearney
Autumn: Claire Kearney
Module TeacherMark Cummins
NFQ level 8 Credit Rating 5
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None
Description
This module will address the significant taxation and accounting issues which arise for Business and Finance professionals practicing in the Sustainability Sector. In particular, the module will address the role tax has played in Ireland and other jurisdictions in helping to incentivise developers of sustainable projects.

Learning Outcomes
1. 1. Analyse the significant accounting issues which can arise in the context of any project
2. 2. Assess the wider commercial implications of such accounting issues
3. 3. Explain the role that tax can play in helping attract equity investment for sustainable projects
4. 4. Show how tax incentivisation can support the sustainability industry
5. 5. Recognise the issues faced by Irish developers who are developing projects in overseas markets



Workload Full-time hours per semester
Type Hours Description
Lecture24The lecturer will present the essential ideas and core concepts pointing students towards resources where they can get further information
Independent learning41Preparation for and reading after lectures
Group work25Case studies and presentations
Assignment35Topic to be agreed with the Lecturer
Total Workload: 125

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
Introduction.
Relevance of accounting and tax issues in the sustainability sector.Outline of issues that are relevant to both developers and equity investors. Impact of accounting and tax issues on free cashflow in order to fund projects and to repay project finance.

Principal Tax Issues.
Broad outline of the relevant tax system. Tax issues arising in relation to sale of projects.Specific tax issues which can arise in this sector including subcontarctors tax,property taxs,custom duties etc. R&D tax benefits.Global perspective on tax issues .Tax issues for different types of investors, pension funds, individuals, corporate investors etc..

Accounting.
Outline of the key accounting issues, Capitalisation policies,impact of accounting policies on retained earnings and distributable reserves. Substance over form accounting issues. Revenue recognition. Impact of IFRIC4 -recategorisation of projects into operating or finance leases. Goodwill issues - particularly on acquisition..

Tax Incentivisation.
BES relief.Section 486B relief.Overview of US tax incentives- prodcution tax credits,invetsment tax credits etc. EU Vs US model comparison. Future role of tax incentivisation in the sustainability industry.Tax-based financing techniques, Mezzanine financing structures. Securitisation of power purchase agreement receivables . Tax planning techniques.

International Expansion.
Key issues for Irish developers planning projects in other countries.Repatriation of profits from overseas to Ireland.Local tax and accounting isues in country of operations.Employee issues. Practiacl difficulties.Introduction of minority investors..

Assessment Breakdown
Continuous Assessment50% Examination Weight50%
Course Work Breakdown
TypeDescription% of totalAssessment Date
Group project Group Case Study20%n/a
AssignmentIndividual Assignment30%n/a
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
  • J Unerman,J Bebbington B O'Dwyer: 2013, Sustainability Accounting and Accountability, 1st, Routledge,
  • P,Ekins, S.Speck: 2011, Environmental Tax Reform (ETR);A Policy for Green Growth(Creating Sustainable Growth in Europe), Oxford University Press,
  • D,Ellernman F,Convery C, de Perthuis: 2010, Pricing Carbon:The European Emissions Trading Scheme, 1st, Cambridge University Press,
  • D, Held M Theros A Fane_ Hervey: 2011, The Governance of Climate Change, 1st, Polity,
Other Resources
4327, Journal, Climate Policy, 0, 4328, Journal, Review of Environmental Economics & Policy, 0, 4329, Journal, Energy Policy, 0,
Array
Programme or List of Programmes
GCSTFGrad Cert. in Sustainable Energy Finance
MSEFMSc in Sustainable Energy Finance
Timetable this semester: Timetable for AC566
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