Skip to main content

Trinity College Dublin, The University of Dublin

Trinity Menu Trinity Search



You are here Programmes > Undergraduate > Global Business > Module Outlines

BUU33531 Financial Accounting I

(5 ECTS credits)

Lecturer(s):

Dave O’Donoghue

Module Content/Outline:

The Module will be divided into 2 parts:

  1. Double entry accounting system;
  2. International Accounting Standards.

Learning and Teaching Approach:

Double Entry Accounting System
In developing a deeper understanding of financial accounting and to fully appreciate the application of accounting standards it is necessary to understand the double entry accounting system.
This module will include the essential features of the double entry system from the books of Prime Entry through to the preparation of Nominal Ledger Accounts. It will deal with the practical application of financial transactions and will conclude with the preparation of financial statements.


International Accounting Standards
This part of the Module will cover International Accounting Standards both in terms of theoretical knowledge and practical application.
The standards proposed for study on the course are set out below; as we progress through the module this list may be subject to change.


IAS 1                           Presentation of Financial Statements
IAS 2                           Inventories
IAS 16                         Property, Plant and Equipment

Learning Outcomes:

  1. Demonstrate a detailed and practical understanding of the double entry accounting system from initial transaction to final accounting statement;
  2. Display a sound theoretical knowledge of each of the international accounting standards studied during the semester;
  3. Substantiate this theoretical knowledge of the standards by applying it to practical problems and scenarios;
  4. Demonstrate an ability to account for the issues arising in the standards using the double entry accounting system.

 

Recommended Texts/Key Reading:

Double Entry Accounting System
The core text for this part of the Module is:
Business Accounting              Basics Frank Wood and David Horner             1st     Edition
The following texts will also be used as reference sources:
Business Accounting Volumes 1 and 2           Frank Wood and Alan Sangster

 

International Accounting Standards
The core text for this part of the Module is:
International Financial Reporting           Alan Melville                                7th Edition
Further reading material, drawn from relevant websites, other texts, press releases and relevant journals will also be included as required.

Assessment:

End of Term Exam     3 hours            100% of the total marks