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Parent Programme
Bachelor of Business
MODULE NFQ
Level 6
MODULE CREDIT UNITS
ECTS: 10
MODULE TITLE
Financial Accounting
Reference Code: BB7 606
STAGE
Year 1
Spring Semester 2
12 Weeks Full-Time X 6 Hours per week
12 Weeks Part-Time X 4 Hours per week

Minimum Intended Learning Outcomes (MIMLOs)

Upon successful completion of this module, the learner should be able to:
LO 1
Explain the basic principles, accounting standards relating to preparing Financial Statements.
LO 2
Prepare day to day manual Nominal Ledger accounts and extract a Trial Balance.
LO 3
Prepare Financial Statements in accordance with generally accepted, international accounting practice.
LO 4
Account for adjustments to Trial Balance in the Financial Statements, Accruals, Prepayments, Provision for Doubtful Debts and Depreciation.
LO 5
Analyse the different methods of calculating Closing Stock.
LO 6
Prepare Purchase and Sales control accounts.
LO 7
Reconcile Bank Statements with Manual Accounts.
LO 8
Prepare a set of Financial Statements for a Sole Trader, Partnerships and Companies.
LO 9
Interpret Final Annual Financial statements using Accounting performance ratios to make recommendations.

Assessment

MIMLOs
Assessment
Percentage
1, 2
CA1
20%
3, 4
CA2
20%
4, 5, 7
CA3
20%
1, 2, 3, 4, 5, 6, 7, 8, 9
Final Written Exam
40%

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Financial Accounting

Aims & Objectives

The aim of this module is to introduce learners to the basic concepts of financial accounting, and to illustrate the importance of such concepts to business actors.

  • Prepare financial statements using appropriate structures and following best practice.
  • Interpret financial statements using appropriate ratio analysis.
  • Make recommendations for an organisation that are cognisant of its financial performance.
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