ACC20010

Learning Outcomes:

Having completed this course, students should be able to:
1. Record transactions using double entry
2. Understand the regulatory framework applying to financial reporting
3. Read an annual report and be familiar with its layout and content
4. Prepare statement of profit or loss, statement of financial position and statements of changes in equity in a form suitable for publication
5. Value some of the major assets and liabilities in the business

Indicative Module Content:

There are 15 topics in this module:
1. Revision of first year material / Double entry bookkeeping
2. Manufacturing accounts
3. Regulatory framework – legal, accounting standards
4. Format of published financial statements
5. International Accounting Standard 1 - Statement of profit or loss
6. Reporting financial performance
7. International Accounting Standard 1 – Statement of financial position
8. International Accounting Standard 1 – Statement of comprehensive income
9. International Accounting Standard 1 – Statement of changes in equity
10. International Accounting Standard 33 – Earnings per share
11. International Accounting Standard 16 – Non-current assets
12. International Accounting Standard 2 – Inventories; Trade receivables
13. International Accounting Standard 37 – Provisions
14. International Accounting Standard 37 – Contingencies
15. International Accounting Standard 10 – Events after the balance sheet date

Student Effort Hours:

Approaches to Teaching and Learning:

Requirements, Exclusions and Recommendations

Level 1 Financial Accounting

Module Requisites and Incompatibles

Assessment Strategy

Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Students will receive grades for each component of the module. Following release of assignment grades, the lecturer will provide some observations to the class at lectures on student performance in the two mid-term assessments.