DESCRIPTION OF THE SUBJECT
Type of course: Lectures+ practice
Number of credits:5
Hours (Lecture/Seminar/Laboratory): 30+30+0
Host institute: Institute of Economics and Social Sciences
Purpose and requirements of the subject:
The purpose of this subject is to introduce students to the following fields:
- Accounting, as a tool for measuring the activities and results of business organisations, accounting logic, elements and connections;
- Learn the differences and similarities between financial accounting and controlling;
- Within the controlling system:
- get acquainted with the structure, content and regulations of the relevant regulations
- the necessity of accounting regulations, basic rules of making a financial report
- balance sheet items, the general rules of their evaluation
- inventory activities, the connection between the balance sheet and the inventory
- the content and parts of a profit and loss account
- the method of profit and loss deduction
- accounting logic and practice, based on double-entry bookkeeping
- certified documents as the basis of accounting
- connections between business events, accounting and document administration
- Connections between taxation and accounting
- Basic concepts of taxation
- Tax types
- Accounting and documentation tasks of tax administration
- Connections between accounting and business informatics
Description of the subject:
The subject uses practical tasks and examples to provide students with the above information.
Students
- get acquainted with the concept, types and place of different assets and resources in the balance sheet;
- perform tasks of balance sheet compilation;
- learn how to present events that modify the assets of a business organisation, and their effect in the balance sheet;
- learn the system, categories and types of concepts regarding the business result (profit, income, costs, expenses);
- present the effect of business events in the balance sheet and the profit and loss account;
- Perform profit and loss account compilation tasks;
- get acquainted with double-entry bookkeeping;
- account simple business events in the ledger with account assignment;
- compile balance sheets and profit and loss accounts on the bases of ledger account balance
Requirements:
Students are required to write a report (similar to a written examination) at the end of their studies but before the start of the exam period; they are given two different dates for this.
Method of teaching:
Lectures and problem solving practice + independent study
Pre-requisites:
Microeconomics, Basic Finance, Corporate Economics
Assessment:
Assessment is done on a five-graded scale, on the basis of the following:
- Students write two tests during the semester, with a topic and date defined by the tutor. Students can be assessed on the combined result of these tests (pass mark: minimum 50%)
- At the end of the course, they write a closing report (similar to a written examination), and they can choose which result they prefer (the combined result of the two tests or the result of the final report). It is important to know that this option is only open for those who attempted to complete at least one of the in-semester tests (with at least 15% result).
