Course detail

Financial Accounting

FP-UfuPAcad. year: 2018/2019

The course Financial Accountancy familiarises students in detail with the accounting of the life cycle of fixed assets, accounting for current assets, for individual items in balance sheet liabilities, for associated and other costs and revenues, for profit and its distribution and producing financial statements.

Learning outcomes of the course unit

Students acquire theoretical knowledge of issues in balance sheets and results, and should know the rules for the accounting treatment of these transactions in accordance with Czech legislation.
Students gain the skills needed for accounting operations connected with the existence of all forms of property in the enterprise, its sources of financing, cost and revenue processes. They acquire skills in the specific accounting operations that provide a true and fair picture of the enterprise. They also practice producing financial statements.
After completing the course students are able to carry out routine accounting operations in a company, propose solutions for specific accounting operations and produce financial statements.

Prerequisites

Students need to know: - methods of double-entry bookkeeping - the accounting definition of asset items and their valuation - about the concepts and definitions of funding sources - about the costs, revenues and profits of the enterprise - about the connections between the given accounting categories and how they are incorporated into the financial statements. This means that they must have successfully completed the course Accountancy.

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

Zákon č. 563/1991Sb., o účetnictví. (CS)
Vyhláška č. 500/2002 Sb., kterou se provádějí některá ustanovení zákona o účetnictví. (CS)
České účetní standardy pro podnikatele. (CS)

Planned learning activities and teaching methods

The teaching is in the form of lectures, in which the logic and methods of processing accounting information are presented. The tasks in the seminars support the practical mastery of the material explained in the lectures.

Assesment methods and criteria linked to learning outcomes

In order to be awarded the credit is necessary to complete the seminars (3 absences are allowed) and succesfully (min. 50 %) produce final test.
The examination is in writing, both solving og examples and test questions are included.
The resulting mark for the course also includes the results of work in the seminars. In the resulting classification the weighting of the individual parts will be as follows: assigment for examination 60 %, results from seminars 40 %.

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

The course Financial Accountancy familiarises students in detail with the accounting of the life cycle of fixed assets, accounting for current assets, for individual items in balance sheet liabilities, for associated and other costs and revenues, for profit and its distribution and producing financial statements.
1. Fixed assets – all methods of acquisition
2. Life cycle of fixed assets – depreciation (component depreciation, residual value), disposal by sale, by donation or through liquidation
3. Current assets – inventory: accounting by methods A and B, pricing on consumption, inventory from own production
4. Current assets – receivables: statement of claims focused on trade receivables, provisions, writing off receivables, assignment of claims
5. Balance sheet liabilities - equity
6. Balance sheet liabilities - external funding sources
7. Costs and their structure, content and accounting in accounting cost classes
8. Revenues and their structure, content and accounting in accounting revenue classes
9. Profit: ascertaining the profit, accounting for its distributions
10. cut-off entries in the wider sense, cost and revenue accruals, accrued items and exchange rate differences by balance-sheet date
11. Closure of accounts, income tax (current and deferred tax)
12. Producing financial statements and annexes
13. Verifying financial statements. The ethics of accounting work, communication of the accountant with shareholders.

Aims

The course objectives are:
- to acquire knowledge and skills in the issues of accounting for assets and liabilities of the accounting unit, costs and revenues and profit,
- to acquire knowledge and skills in cut-off entries and financial statements.

Specification of controlled education, way of implementation and compensation for absences

Participation of students in seminars is monitored, and in the case of unexcused absence the student must proceed according to the instructions of the teacher.

Classification of course in study plans

  • Programme BAK Bachelor's

    branch BAK-UAD , 2. year of study, winter semester, 6 credits, compulsory
    branch BAK-EP , 3. year of study, winter semester, 4 credits, compulsory-optional

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Exercise

26 hours, compulsory

Teacher / Lecturer

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