Module Specifications.
Current Academic Year 2024 - 2025
All Module information is indicative, and this portal is an interim interface pending the full upgrade of Coursebuilder and subsequent integration to the new DCU Student Information System (DCU Key).
As such, this is a point in time view of data which will be refreshed periodically. Some fields/data may not yet be available pending the completion of the full Coursebuilder upgrade and integration project. We will post status updates as they become available. Thank you for your patience and understanding.
Date posted: September 2024
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Description This module aims to build students' ability to prepare and interpret accounting information with the degree of understanding that they need for a professional actuarial career. The teaching methodology is based on lectures and interactive problem sessions, which train students to 1. Prepare statement of comprehensive income and statement of financial position for companies. 2. Analyse, understand, and interpret financial statements using ratio analysis. 3. Describe and explain the regulatory environment for company accounting. 4. Explain the purpose of budgets and prepare basic examples of budgets. | |||||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 1. Discuss the current regulatory environment for corporate reporting including new developments. 2. Appraise and interpret the content of the Annual Report. 3. Prepare statements of comprehensive income and statement of financial position for single companies under IAS1. 4. Perform financial analysis of companies using ratios. 5. Explain the concept of a group and perform simple calculations of consolidation. 6. Explain the purpose of budgets and prepare basic examples of budgets. | |||||||||||||||||||||||||||||||||||||||||||
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 |
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Indicative Content and Learning Activities
Introduction to AccountingDefinition of accounting, output of accounting - Primary Statements, Users of accounts, Financial Accounting v Management Accounting, qualitative features of financial accounting information.Accounting Concepts and ConventionsEntity, going concern, prudence, accruals/matching, consistency, money measurement, historic cost, materiality. Developments on the conceptual framework.Recording Business TransactionsAccounting equation and the balance sheet, accounting equation and the profit and loss account, double entry system for assets, liabilities and capital, profit and reserves. The Trial Balance.Statement of Financial Position for CompaniesCharacteristics of assets, capital, double entry rules, categories of assets and valuation including revaluation of non-current assets, categories of liabilities, types of share capital & types of reserves, preparation of statement of financial position for publication.Statement of Comprehensive Income for CompaniesRecognition of revenue and expenses, accruals and prepayments, capital and revenue expenditure, depreciation, format of Comprehensive Income statement; flow of information, double entry rules, preparation of Statement of Comprehensive Income and of accounts for publication for plc companies.Other Financial StatementsUnderstanding of Statement of Changes in Equity and Statement of Cashflows, concept of cash flow, distinction between profits and cash flow.Interpretation of AccountsRole of ratio analysis, computation of profitability, liquidity, efficiency, gearing, and investment ratios and interpretation of same by preparation of written analytical reports for plc companies. Link between Cash flow and Ratios and Working Capital Management. Evaluation of working capital management policies, methods for financing working capital, Limitations of ratio analysis in the interpretation of company accounts.Group AccountsConcept of group and preparation of a simple group (consolidated) Statement of Financial Position. Concept of subsidiary and associate companies. Goodwill on consolidation.The Annual ReportThe role and content of the annual report and the role of directors and auditors.Constructing Management InformationExplain the purpose of forecasts and budgets and prepare basic examples of forecasts and budgets. | |||||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List
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Other Resources None | |||||||||||||||||||||||||||||||||||||||||||