Module Overview

Personal Finance

This module aims to assist students to apply financial concepts to their personal finances. It introduces
students to many of the financial concepts which can be applied in their business career and provides a
foundation for future modules. Specifically, the module provides students with a wide understanding of both
the products available and current practical methods used in personal finance decision-making including the
income tax impacts.

Module Code

ACCF H2020

ECTS Credits


*Curricular information is subject to change

Applying the principles of personal finance:

changing needs, Application of financial theory to the individual. Influences on financial planning, The financial lifecycle; Keystages in life and their impact on financial planning. The financial Plan; Profiling the individual, Developing financial goals.Personal investments; Savings, Investment products and strategies, Risk versus return, diversification, returns over time,investing in a pension. Personal Debt, e.g. Credit card debt, Debt management. Insurance/protection. Budgeting; Introduction tomanaging personal finances, tracking expenditure using Excel spread sheets, undertaking a money makeover. Financial position,Calculating net worth. Regulation.

Investing for the future:

Applying compounding and discounting formulas including annuities and perpetuities to investing, saving and borrowing.

Loans and mortgages:

Types of loans and mortgages, calculation of repayments, the cost of credit and refinancing a loan, loan criteria.

The collection of tax, PRSI and USC under the PAYE system

The calculation of gross pay. The calculation of taxable pay including common deductions to arrive at taxable pay. The calculationof Income Tax under the PAYE system. The calculation of Pay Related Social Insurance under the PAYE system. The calculationof Universal Social Charge under the PAYE system. The calculation of net pay. An introduction to payroll submissions under themodernised PAYE system

Module Content & Assessment
Assessment Breakdown %
Formal Examination70
Other Assessment(s)30