Certificate in Fundamentals of Accounting
Business & Financial Services
Flexible & Professional
The primary aim of the Certificate in Fundamental Accounting is to introduce bookkeeping and management accounting to those starting their own business or those working in a small or medium business.
What are the entry requirements?
ACADEMIC ENTRY REQUIREMENTS: QQI Level 5 award, Leaving Certificate or equivalent qualification.
Prospective particpants who do not meet the entry requirements outlined may still qualify for addmission by meeting certain other equivalent criteria, including relevant life and/or work experience.
ENGLISH LANGUAGE: Applicants who do not have English as their first language must ensure they satisfy English Language requirements. For entry to undergraduate courses, a minimum score of 5.5 in an IELTS exam is required. For postgraduate courses, a minimum of 6.0 is required. It is the responsibility of the applicant to ensure their English proficiency meets these requirements.
JULY STIMULUS FUNDING ELIGIBILITY: Funding for this programme has been approved by the HEA for eligible applicants under the July Stimulus Provision.
Eligible participants are listed below:
Those in receipt of PUP or a jobseekers payment or other qualifiing DEASP payments can participate on approved July Stimulus part time modular courses. Participants falling under this category will be 100% funded. Applicants must provide proof of payment.
Returners are those who are not in receipt of a payment from the Department of Employment Affairs and Social Protection but who have been out of the work environment for a number of years due to childcare or other caring obligations. They have a previous history of employment but may require upskilling, reskilling or cross-skilling to transition back to the workforce.
To be eligible the applicant must have been:
- A Homemaker or on other caring duties for a minimum period of 9 of the previous 12 months prior to their application
- Ordinarily resident in an EU/EEA/UK/Swiss state for at least three of the five years preceding their entry to the programme
- In addition, the applicant will need to provide supporting documentation to confirm their status as a Homemaker.
- Applicants must swear a declaration before a Commissioner for attesting to their status.
Participants falling under this category will be 100% funded. It should be noted that acceptance on to a postgraduate course does not confer any entitlement to DEASP payments or childcare supports.
- The Employed
Applicants who are employed will need to meet the residency requirements, i.e. that the applicant has been ordinarily resident in an EU/EEA/UK/Swiss state for at least three of the five years preceding their entry to the programme.
This category of applicant will also be required to provide a copy of their most recent ‘Employment Detail Summary’ or other relevant revenue documentation. Applicants will be required to pay 10% of the course fee.
- Formerly Self-employed
To be eligible those who are formerly self-employed must provide a letter/statement from Revenue confirming that the applicant is no longer trading or a similar letter from the applicants (former) accountant should be sufficient.
Alternatively, a participant can swear a declaration stating that they are no longer self-employed. Applicants will be required to pay 10% of the course fee.
- Recent graduates
This programme is open to recent graduates. However, to participate in these courses, 2020 graduates will be required to pay 10% of the course fee.
Applicants who are normally resident in Ireland should also meet the nationality and EU residency rules. They are:
- Applications for admission to July Stimulus courses should be accepted from suitably qualified applicants who hold EU/EEA/UK/Swiss nationality in their own right or who are:
- Persons who have official refugee status in this State. Time spent from date of official lodgement of application papers for refugee status will be included for the purpose of meeting the three-year residency requirement; or
- Family members of a refugee who are granted permission by the Minister for Justice and Law Reform to enter and reside in the State under Section 18 of the Refugee Act 1996; or
- Persons who have permission to remain in the State as a family member of a Union citizen under the provisions of the European Communities (Free Movement of Persons) Regulations 2006 and 2008 and Directive 2004/38/EC of the European Parliament and of the Council; or
- Persons who have been granted Humanitarian Leave to Remain in the State (prior to the Immigration Act 1999); or
- Be a person in respect of whom the Minister for Justice and Law Reform has granted permission to remain following a determination not to make a deportation order under section 3 of the Immigration Act 1999 or;
- Be a non-EU/non-EEA/non-UK/non-Swiss citizen legally entitled to work full time in Ireland without having to seek an employment permit. These residents may be here as the spouse/civil partner or family member of an Irish or EU citizen and will have Stamp 4 or Stamp 4 EU FAM on their residence cards from Garda National Immigration Bureau.
- Applicants must have been ordinarily resident in an EU/EEA/UK/Swiss state for at least three of the five years preceding their entry to the programme.
Note: The period of residency for holders of Stamp 4 or Stamp 4 EU FAM is calculated from the date of receipt of the Stamp 4. Any period of residency in the state before this date will not be taken into consideration.
What modules will I study?
Fundamentals of Accounting
• Introduction to Accounting
• Accounting Procedures and Systems
• Preparation of Financial Statements
• Emerging Issues
Accounting for Management Control
• Cost and Revenue classification. Nature and purpose of classification
• Materials: Cost and Control
• Labour: Cost and Control
• Overheads: Costs and Control
• Product/Job, Batch, Process and Service Costing
• Marginal and Absorption Costing and CVPanalysis
• Budgetary Control and Reporting
• Standard Costing and Variance Analysis
• Emerging Issues
Are there opportunities for further study?
Those who complete the Certificate in Fundamental Accounting will be eligible to apply for an exemption from Professional Accountancy Examinations and may enter the Bachelor of Arts (Hons) in Accounting under LIT’s transfer progression policies.
Applicants may also be interested in:
Certificate in Personal and Transactional Taxation (Special Purpose Award Level 8, 30 Credits)
This programme is 1 academic year in duration. Delivery will be 100% online and will be run over 2 semesters per year, 16 weeks per semester. The programme will commence in January 2021, start date and delivery schedule to be confirmed.
Each module will be assessed by continuous assessment worth 20% throughout the semester and final exam worth 80% at the end of the relevant semester.
Certificate in Fundamentals of Accounting (Special Purpose Award Level 6, 30 Credits)
4th December 2020
For queries relating to course content
Contact: Kathleen O'Shea
The total fee for this programme is €2,550. Funding for this programme has been approved by the HEA for eligible applicants under the July Stimulus Provision.
This programme is 90% funded for employed applicants and graduates and the subsidised fee to be paid is €255.
The programme is 100% funded for unemployed applicants on a qualifying payment and returners.
All applicants must complete the application form which can be downloaded from this page. Completed application forms, along with supporting documentation as outlined below must be emailed to firstname.lastname@example.org
Incomplete application forms or applications with outstanding supporting documentation will not be considered.
To complete your application process you must include the following with your application.
1. Current CV
2. Proof of existing educational qualifications
3. Proof of nationality i.e. passport
4. Proof of employment status i.e. payslip/P60 (amounts can be redacted) / social welfare payment i.e. receipt/letter
Please note that places are LIMITED and only COMPLETE applications can be assessed. Any missing documents will lead to a delay in processing.
EMPLOYED APPLICANTS: ONE of the following: A recent payslip / most recent P60 / revenue documentation letter from employer confirming this (amounts may be redacted from financial documents) / letter/email from employer / proof from company website etc.
UNEMPLOYED APPLICANTS: Proof of social welfare: Written confirmation from the Department of Employment Social Protection (DEASP) that you are a Social Welfare recipient at the commencement of the course. Name of payment. Receipt from Post Office may suffice.
RETURNERS: If you are a returner who has been on home or other caring duties for 9 of the last 12 months OR you are economically dependent on a partner or spouse and have been unemployed for 9 of the last 12 months you must supply a notarized affidavit confirming this. Please email email@example.com to request this form.
FORMERLY SELF-EMPLOYED: Provide a letter/statement from Revenue stating that the applicant is no longer trading or a similar letter from the applicants (former) accountant should be sufficient.