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
This module introduces the non-specialist 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 and auditing in their political, regulatory, historical, social, economic and international contexts; introduction to the theoretical, conceptual and regulatory frameworks of accounting; corporate governance; traditional accounting model; nature, purpose, scope and framework of auditing; the impact of information technology on accounting systems; capital, income and profit measurement; accruals, prepayments and adjustments; depreciation and stocks; distribution of profits; profit and loss accounts and balance sheets, cash flow statements; reconciliation of operating cash flows to operating profits; financial statements analysis, financial ratios and performance analysis.
This module is designed to be a prerequisite for the module AC4204 Management Accounting and Finance, offered in the spring semester.
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.