Module
Financial Accounting
Financial Accounting
Educational material, not professional, tax or legal advice. Figures reflect Irish law as understood when written — check Revenue.ie or a qualified adviser before acting. Not affiliated with or endorsed by any professional body.
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- 01From transaction to financial report
- 02Choose the legal shell
- 03The scope is wider than profit
- 04One report, many questions
- 05Four statements, four views
- 06The five elements tell the story
- 07Who writes the reporting rules?
- 08Governance begins with responsibility
- 09Going concern and the accrual clock
- 10Material, consistent and cautious
- 11Every entry has a second face
- 12Cost, current value and economic substance
- 13Relevant and faithfully represented
- 14Make useful information usable
- 15Evidence enters before numbers move
- 16Follow the customer order
- 17Follow the supplier trail
- 18Keep the equation alive
- 19The ledger moved to the cloud, not beyond control
- 20Useful information has a deadline
- 21Know the account before the side
- 22From first record to journal
- 23Read the narrative, build the journal
- 24Balance, close and carry forward
- 25Record the sale and the purchase
- 26Returns reverse the route; tax follows the supply
- 27A discount is not always the same discount
- 28Cash needs a trail, even when it is small
- 29Inventory closes one period and opens the next
- 30Cost is not price; value is not hope
- 31FIFO lets the oldest cost leave first
- 32Periodic average waits for the period
- 33Continuous average changes after each receipt
- 34Capitalise the resource, expense the consumption
- 35Acquire at cost; remove the asset when control ends
- 36Disposal and part exchange need a bridge
- 37Revaluation changes more than one line
- 38A revalued asset still meets the disposal test
- 39The asset note is a movement story
- 40Depreciation allocates; it does not appraise
- 41Straight line makes time visible
- 42Reducing balance follows the carrying amount
- 43Two accounts show one carrying amount
- 44Revaluation resets the depreciation base
- 45A new estimate changes the road ahead
- 46Intangible does not mean imaginary
- 47Research searches; development builds
- 48Capitalise from the evidence date
- 49Amortisation follows finite useful life
- 50Accrue what is used; prepay what is future
- 51Income also has a timing problem
- 52Adjust, then reverse without duplicating
- 53Timing adjustments reshape profit and net assets
- 54Credit creates sales and collection risk
- 55Write off the debt; recognise a real recovery
- 56The allowance estimates what remains uncertain
- 57Contra only what both parties genuinely owe
- 58Provision, possible obligation, possible asset
- 59Classify the uncertainty before measuring it
- 60Update the provision, not the fear
- 61Capital has layers of risk and return
- 62Equity remembers owners and performance
- 63Issue shares at their full consideration
- 64A bonus issue rearranges equity
- 65A rights issue invites new cash
- 66Dividends distribute equity after approval
- 67Finance cost follows time and obligation
- 68Two bank records see different moments
- 69Update the ledger before reconciling
- 70Bridge corrected cash to the bank
- 71Derive the missing bank balance
- 72Payables control links totals to suppliers
- 73Reconcile supplier by supplier
- 74Correct the payable, then report the obligation
- 75The trial balance gathers the ledger
- 76Agreement can still hide a wrong story
- 77Name the error before correcting it
- 78Correct the accounts and follow the profit
- 79Suspense holds a difference, not an answer
- 80Clear suspense one explained difference at a time
- 81The statement of financial position balances concepts
- 82Build the position from adjusted balances
- 83Profit is a staircase, not one number
- 84Tax and disclosure complete the performance view
- 85Prepare profit and OCI from the adjusted trial balance
- 86Notes turn totals into understandable evidence
- 87The reporting date has an evidence window
- 88Profit can rise while cash runs out
- 89Cash flows answer where the money moved
- 90Indirect cash starts with profit and removes accrual effects
- 91Direct operating cash follows receipts and payments
- 92Investing builds capacity; financing funds it
- 93Assemble the cash-flow statement and make cash reconcile
- 94Incomplete records still obey the equation
- 95Cash summaries rebuild what the ledger forgot
- 96Markup and margin unlock missing sales
- 97Complete accounts preparation is a linked system
- 98A group reports as one economic unit
- 99Outside owners remain visible
- 100Acquisition starts with fair value
- 101Goodwill is the acquisition residual
- 102The group cannot owe or profit from itself
- 103Part-year control splits group performance
- 104Influence is less than control
- 105Equity accounting follows the investor's share
- 106Analysis turns statements into questions
- 107Profitability begins with margin and return
- 108Liquidity asks whether near-term claims can be met
- 109Efficiency measures how long resources wait
- 110Position ratios reveal financing pressure
- 111Ratios move in families
- 112Read trends, context and accounting choices
- 113Conclude for the user and show the evidence
- 114Double-entry, formula and method reference
- 115Congratulations on completing the module