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FINANCIAL ACCOUNTING 4

Module code: AC202
Credits: 5
Semester: 2
Department: ECONOMICS,FINANCE & ACCOUNTING
International:

	Overview
	The AC202 module covers three distinct areas; - the application of International Accounting standards to the preparation of financial statements, - preparation of financial statements for businesses operating as partnerships and an introduction to the principles of auditing. The module also contains a sub-component module (AC202A) which encompasses the use of ICT to carry out the basics of financial accounts.

Overview

The AC202 module covers three distinct areas; - the application of International Accounting standards to the preparation of financial statements, - preparation of financial statements for businesses operating as partnerships and an introduction to the principles of auditing.
The module also contains a sub-component module (AC202A) which encompasses the use of ICT to carry out the basics of financial accounts.

	Learning Outcomes
	On successful completion of the module, students should be able to: Apply international accounting standards to the preparation of financial statements Prepare financial statements for a partnership including the allocation of profits in accordance with the partnership profit sharing ratio. Account for partnership goodwill and the revaluation of partnership assets when a partner joins or leaves the partnership or there is a change in the profit sharing ratio. Account for the dissolution of a partnership. Evaluate at a high level, the role of audit and assurance in the business environment, and the role of audit evidence, audit procedures and audit reports in the audit process.

Learning Outcomes

Teaching & Learning methods

Assessment

	Autumn Supplementals/Resits
	University scheduled written examination (Autumn): 90 minutes

	Pre-Requisites
	AC201 or equivalent.

Timetable

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Courses / Module

FINANCIAL ACCOUNTING 4

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