Short Title:Financial Accounting 5
Full Title:Financial Accounting 5
Module Code:FACC H3003
Credits: 5
NFQ Level:7
Field of Study:Accounting and taxation
Module Delivered in no programmes
Module Author:MARTIN NOLAN
Module Description:This module aims to build on the knowledge of accounting concepts, terminology, principles acquired in previous Financial Accounting modules. In particular, students will build up their knowledge of the requirements of International Financial Reporting Standards and the application of the standards to the preparation of limited company financial statements.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Prepare and present financial statements for limited companies in accordance with international financial reporting standards (IFRS).
LO2 Apply the recognition, measurement and disclosure requirements of selected accounting standards to the preparation of financial statements under IFRS.
LO3 Select and apply appropriate accounting procedures and disclosures to accounting for non-current assets in accordance with ÌFRS.
LO4 Explain the concept of substance over form and apply it to practical situations.
LO5 Explain the rationale for and accounting treatment of operating and finance leases in accordance with IFRS.
Pre-requisite learning
Co-requisite Modules
No Co-requisite modules listed

Module Content & Assessment

Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Continuous Assessment The continuous assessment will be in the form of an in-class time constrained closed book test covering one or more of the learning outcomes.   30.00 n/a
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5 70.00 End-of-Semester

IT Tallaght reserves the right to alter the nature and timings of assessment


Module Workload

This module has no Full Time workload.
This module has no Part Time workload.

Module Resources

Required Book Resources
  • ACCA Paper 2.5, Financial Reporting (International), Foulkes Lynch Study Text
Recommended Book Resources
  • IASB 2007, International Financial Reporting Standards
  • Pierce, Aileen and Brennan, Niamh, 2003, Principles and Practice of Group Accounts a European Perspective,, Thompson
  • Lewis, R., and Pendrill, D.,, Advanced Financial Accounting, Pitman
  • Elliott B. and Elliott E, International Financial Accounting & Reporting, (Prentice Hall)
  • Alexander, D., and Britton, A., International Financial Reporting & Analysis, Thomson Learning
This module does not have any article/paper resources
Other Resources
  • ICAI
  • ACCA
  • CIMA
  • ASB
  • IASB