Module: International Accounting Theory & Practice

Module Specifications..

Current Academic Year 2023 - 2024

Please note that this information is subject to change.

Module Title	International Accounting Theory & Practice
Module Code	AC220
School	DCUBS
Module Co-ordinator	Semester 1: Cian Coughlan Semester 2: Vincent Tawiah Autumn: Vincent Tawiah
Module Teachers	Caroline McGroary John Nolan Vincent Tawiah Teresita Kelly Cian Coughlan
NFQ level	8	Credit Rating	10
Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

None
Array

Description

The purpose of this module is to expose participants to international accounting issues from a theoretical and practical basis. In this module students will be introduced to the regulatory and legal framework in which financial reporting in Ireland occurs. Students will be exposed to alternative income and valuation bases and their knowledge of the concepts, bases and policies which underpin financial statements will be further developed. International accounting standards, which are now essential in our global business world, will be explored in this module. This knowledge will aid students to evaluate and critically appraise the performance, financial position and financial adaptability of an entity and to prepare reports communicating this appraisal to internal and external parties.

Learning Outcomes

1. Describe different accounting theories.
2. Appraise alternative income and valuation bases.
3. Describe the regulatory and legal framework in which financial reporting in Ireland occurs.
4. Prepare published financial statements in accordance with International Accounting Standards and legal requirements for single entities in Ireland.
5. Analyse and appraise single entity financial statements and report thereon.

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	48	Class based instruction
Tutorial	20	Problem solving and group discussion
Independent Study	40	Problem solving relating to tutorial material
Assignment Completion	30	Assignment work
Independent Study	112	Weekly review of class materials in preparation for the final examination
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

Accounting Theory
Definitions of theory; normative/positive theories, conceptual framework projects.

Alternative Accounting Models
Objectives of income measurement, historic cost accounting model, current value accounting models, economic model and concepts of capital maintenance.

Regulatory Framework of Accounting
Legal and professional framework for the regulation of financial reporting; the Irish and International standard setting process; the true and fair view.

Specific Accounting Topics
Accounting policies; revenue recognition; inventories; government grants; property, plant and equipment; impairment of assets; investment properties; intangible assets; events after the reporting period; provisions, contingent liabilities and contingent assets.

Company Accounting
Public v Private companies; issue and redemption of share and loan capital; distributable profits; presentation of final accounts for non-group companies in accordance with the Companies Acts and International Accounting Standards.

Analysis and Interpretation
Objectives of analysis and interpretation of financial statements; definition, ratio calculations in the areas of performance, efficiency, financial adaptability, liquidity, gearing and investment appraisal, users interest in ratios, limitations of ratio analysis.

Statements of Cash Flow
Objectives of cash flow information, distinction between profit and cash; advantages and limitations of statements of cash flow, the requirements of IAS 7 for single entities.

Assessment Breakdown
Continuous Assessment	30%	Examination Weight	70%

Type	Description	% of total	Assessment Date
Course Work Breakdown
Assignment	Discussion and analysis of topical accounting issues	30%	As required

Reassessment Requirement Type
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

Deegan, C. and Unerman, J.: 2011, Financial Accounting Theory, European edition 2nd, Mcgraw-Hill,
Connolly, C.: 2011, International Financial Accounting and Reporting, Institute of Chartered Accountants in Ireland, Dublin,
Elliott, B. and Elliott, B.: 2011, Financial Accounting and Reporting, 15th, Prentice Hall, London,

Other Resources

None

Programme or List of Programmes

AF	BA in Accounting and Finance

Date of Last Revision

16-SEP-10

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