VSFS:B_Uc_1 Accounting 1 - Course Information

B_Uc_1 Accounting 1

Extent and Intensity

2/1/0. 6 credit(s). Type of Completion: zk (examination).

Guaranteed by

doc. Ing. Hana Březinová, CSc.
Department of Finance – Departments – University of Finance and Administration
Contact Person: Dita Egertová

Prerequisites

There are no prerequisites for this course.

Course Enrolment Limitations

The course is offered to students of any study field.

Course objectives

At the end of the course the students will know and be able to explain the method of double entry accounting and its elements (balance principle, general accounting principles, account, double entry method, documents, accounting books, inventory, control of accounting records) and a base and structure of the financial statement as a picture of the firms financial position and efficiency for the other related subjects. They will be able to keep accounting records of normal economic operations including the operations at the end of the accounting period.

Learning outcomes

At the end of the course the students - will know and be able to explain the place and function of the accounting as the main source of economic information - will know and be able to explain the essence of double-entry bookkeeping and its elements (balance principle, general accounting principles, account, double entry method, inventory, periodicity of accounting records) - will know double entry method of economic processes evidence and be able to decide on the double entry record in the elementary situation - will know the structure and information power of the financial statements - will know and be able to perform the tasks at the end of the accounting period.

Syllabus

• 1. The essence of accounting, the subject of accounting, users of financial accounting. Accounting systems (US GAAP, IFRS, EU directives, CZ GAAP)
• 2. Basic concepts and categories (assets, balance sheet, assets, liabilities, balance principle). Function and informativeness of the balance sheet, basic structure.
• 3. Changes in balance sheet items due to the circulation of economic resources. Account, its function, method of recording. Balance sheet accounts, entries in asset and liability accounts. Double and matching entry.
• 4. Costs and revenues as consequences of asset movements. Difference between costs, expenses, revenues and income. Profit and loss accounts, entries in them, economic result and its function.
• 5. Cost breakdown. Profit and loss statement (income statement).
• 6. Accounting documents. Accounting entries and accounting books. Chart of accounts. Chart of accounts.
• 7. Accounting principles and accounting methods (valuation).
• 8. Accounting for inventories (definition, valuation, acquisition, consumption, sale).
• 9. Accounting for fixed tangible and intangible assets (definition, valuation, acquisition, depreciation).
• 10. Accounting for receivables and payables, costs and revenues.
• 11. Summary recording of the circulation of funds in accounts. Financial statements
• 12. Summary recording of the circulation of funds. Tax liability.

Literature

required literature
• NOVOTNÝ Pavel. Účetnictví pro úplné začátečníky 2023. Grada, 2023. ISBN 978-80-271-3979-8
• Kubíčková, Dana. Základy účetnictví. 3. aktualizované vydání. Praha: Vysoká škola finanční a správní, 2016. 161 s. Edice EUPRESS.(3. akt. vydání). ISBN 978-80-7408-138-5.
• DVOŘÁKOVÁ Dana, Základy účetnictví, 2021, 3. aktualizované vydání. Praha:Wolters Kluwer

recommended literature
• KUBÍČKOVÁ D., Sbírka příkladů z finančního účetnictví. 2. aktualizované vydání. Praha: Vysoká škola finanční a správní, 2017. 170 s. ISBN 978-80-7408-154-5.
• ŠTEKER Karel a OTRUSINOVÁ Milana, Jak číst účetní výkazy, 2021, Grada Publishing

Teaching methods

Teaching methods: - full-time study : lectures of theory and seminars of theory application. - part-time study : e-learning form of education (DSO)

Assessment methods

Assessment methods : interim tests, credit test
Close of the course: credit, exam

Credit :
conditions for obtaining credit:
- full time study - 75% active participation on seminars, successful completion of interim tests (and other teachers tasks) and a credit test
- part time study - 50% actuve participation on seminars, successful completion of a credit test.
Students who fail to meet mandatory scope of participation and ongoing responsibilities will be assigned additional duties study the extent to which study results demonstrate acquired competencies necessary for successful completion of the course.

The exam
is conducted orally and focuses on:
- the method of reporting the state of assets in the balance sheet and verifying the balance principle;
- the method of reporting the movement of assets in the profit and loss statement and determining the economic result;
- explanation of the technique of recording accounts, their nature, types, opening and closing accounts;
- clarification of basic accounting principles;
- explanation of the accounting method of valuation, depreciation;
- accounting documents, accounting entries, accounting books, financial statements

Language of instruction

Czech

Follow-Up Courses

• B_Uc_A2 Accounting A 2

Further Comments

The course can also be completed outside the examination period.

• Enrolment Statistics (recent)
  
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