Module Overview

Financial Accounting for Business Managers 2

Financial Accounting 2 aims to build on the knowledge of accounting concepts, principles, conventions and formats acquired in Financial Accounting 1. It is intended that this knowledge will be applied in the preparation of financial statements for a range of different types of entities including Limited Companies and Partnerships

Module Code

FACC H1007

ECTS Credits


*Curricular information is subject to change

Partnership Accounts

Introduction to Partnership entities and Partnership Act. Preparing Income Statement, Profit Split, partners current accounts and Balance Sheet of a partnership. Apportioning of partnership profit by salary, interest on capital, interest on drawings and profit sharing ratios.Includes post Trial Balance adjustments from Financial Accounting 1.

Accounts of Limited Companies

Introduction to Limited Liability Company Accounts. Preparing Income Statement, Reserve Movement and Balance Sheet of Limited Liability company for internal use. Focus on dividends, directors renumeration and debentures. Includes post Trial Balance adjustments from Financial Accounting 1.

Incomplete Records

Techniques used in incomplete record situations (i) calculation of opening capital and profit/loss using the accounting equation (ii) use of control/ledger accounts and ratios (margin and mark-up) to calculate missing figures (iii) use of cash and/or bank summaries.

Interpretation of Accounts

Analysis of financial statements using ratios covering the Liquidity, Efficiency, Profitabilty and Investor aspects of the entity

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