Principles of Accounting
University of Limerick
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
OverviewThis module introduces the student to the fundamental concepts and practices of financial accounting. Accounting is presented as a manifestation of various social and political pressures, which required that techniques be developed to account for trading and wealth. The topics covered include accounting in its political, regulatory, historical, social, economic, corporate governance and international contexts; introduction to the theoretical, conceptual and regulatory frameworks of accounting; traditional accounting model; capital, income and profit and measurement; principles of double entry bookkeeping; books of prime entry, ledgers, trial balance, internal controls, use of computers in recording and control of data, construction of final accounts for sole traders, partnerships and limited companies; accruals, prepayments and adjustments; depreciation and stocks; distribution of profits; profit and loss accounts and balance sheets, cashflow statements; nature, purpose, scope and framework of auditing.
Courses and course hours of instruction are subject to change.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.
Please reference fall and spring course lists as not all courses are taught during both semesters.
Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.