B_UcFI Financial Institutions Accounting

University of Finance and Administration
Winter 2024
Extent and Intensity
0/2/0. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
Ing. Jana Kotěšovcová, Ph.D. (seminar tutor)
Guaranteed by
doc. Ing. Hana Březinová, CSc.
Department of Finance – Departments – University of Finance and Administration
Contact Person: Dita Egertová
Prerequisites
In this course is a prerequisite for successful course completion Accounting I. (B_Uc_1), Accounting II. (B_UC_2) and Banking.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
After completing this course, students will expand their knowledge of double-entry bookkeeping in the field of financial institutions. They will be able to analyze the financial statements of these institutions and correctly determine the valuation of individual items of assets and debts, they will understand their structure, including the different items of equity capital of financial institutions. Students will learn about the duty of these entities in the public interest to keep accounts and prepare financial statements according to international accounting standards.
Learning outcomes
Competently assess valuation methods for various components of assets and liabilities within the financial sector.
Decide on the appropriate method of accounting for ordinary transactions relating to assets, liabilities and equity in the financial sector.
Understand the connections between the knowledge gained and the tools used to regulate financial institutions.
This acquired awareness will allow them to operate more effectively in the area of ​​financial institutions and have a deeper understanding of the challenges they may encounter in managing accounting processes in this sector. Make informed decisions about the appropriate accounting treatment for common transactions related to assets, liabilities, and capital within the financial sector.
Establish connections between acquired knowledge and the tools used for the regulation of financial institutions.
This acquired knowledge will enable them to operate more effectively in the field of financial institutions and gain a deeper understanding of the challenges they may encounter in managing accounting processes in this sector.
Syllabus
  • The interpretation will progress from the accounting recording of cash and interbank operations, active and passive operations in relation to clients, through the accounting of transactions with securities to the accounting of tangible and intangible assets and accounting in foreign branches. Attention will be paid to accounting in equity accounts, long-term liabilities, the use of closing and profit and loss accounts and off-balance sheet accounts, including derivative transactions. The breakdown of the issue into individual lectures is as follows:
  • 1) Basic function and principle of double-entry accounting, general accounting principles, basic elements, accounting methods, accounting statements and their specifics in financial institutions, characteristics of individual items of accounting statements, chart of accounts and chart of accounts for financial institutions in Czech accounting, valuation of assets and debts (effective interest rates, accrued value) Use of international accounting standards.
  • 2) Accounting of cash operations, operations in foreign currency, deposit accounts at the central bank, deposit accounts of other banks, loan accounts of other banks, interbank settlement in accounting currency and foreign currency.
  • 3) Accounting for the bank's passive transactions, deposits and their specifics, interest on deposits, deposits in foreign currency; accounting of receivables (active trades), adjustment items, cession of receivables.
  • 4) Accounting for selected operations with securities (Treasury bills, coupon bonds, options), repo operations, issuance of securities for the client.
  • 5) Accounting for held-to-maturity financial instruments, accounting in capital accounts, reserves and long-term liability accounts, issue of shares, issue premium, issue of bonds.
  • 6) Accounting of long-term tangible and intangible assets, accounting of costs and revenues, settlement and distribution of the economic result, sub-balance sheet and its use.
Literature
    required literature
  • DVOŘÁKOVÁ, Dana. Finanční účetnictví a výkaznictví podle mezinárodních standardů. 6. aktualizované a doplněné vydání. V Brně: BizBooks, 2022. ISBN 978-80-265-1085-7.
  • MLÁDEK, Robert, Robert MLÁDEK a Robert MLÁDEK. IFRS and US GAAP: accounting policies and procedures = IFRS a US GAAP: postupy účtování. Praha: Leges, 2017. Praktik. ISBN 978-80-7502-194-6.
    recommended literature
  • ŠTEKER, Karel a Milana OTRUSINOVÁ. Jak číst účetní výkazy: základy českého účetnictví a výkaznictví. 3., aktualizované vydání. Praha: Grada, 2021. Prosperita firmy. ISBN 978-80-271-3184-6.
  • VANČUROVÁ, Alena, Hana Zídková. Daňový systém ČR 2022. Praha: Wolters Kluwer, 2022. 353 s. ISBN:978-80-7676-362-3
  • WEYGANDT, Jerry J., Paul D. KIMMEL a Jill E. MITCHELL. Accounting principles. Fourteenth edition. Hoboken, NJ: Wiley, 2021. ISBN 978-1-119-70708-0.
  • VIRGIL, E. Neal. Modern Banking and Bank Accounting: Containing a Complete Exposition of the Most Approved Methods of Bank Accounting; Designed As a Text Book Paperback. Franklin Classics. 2018. ISBN-13: ‎ 978-0342104345
Teaching methods
Teaching methods:
- full-time study - seminar, obligatory 75% participation
- combined study - guided group consultations, obligatory 50% participation
Assessment methods
Completion method: credit

Conditions for obtaining credit:
a) active participation
- full-time study - in the range of at least 75%
- combined studies - in the range of at least 50%.
b) successful completion of the written credit test (min. 60%).


ISP students: in addition, they prepare a 5-page seminar paper, word. Agree the topic in advance with the teacher.
Students who do not fulfill the mandatory scope of participation and responsibilities during the semester will be assigned additional study obligations to the extent that will enable them to demonstrate the study results and acquired competencies necessary for successful completion of the course.
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 12 hodin KS/semestr.
Teacher's information
https://is.vsfs.cz/auth/predmety/predmet?obdobi=68;pvysl=13108572
The "Accounting in Financial Institutions" course holds significant importance as it equips students with essential skills and knowledge required for careers in the financial sector. Understanding the intricacies of accounting in this specific industry allows students to gain deeper insights into the complex environment of financial institutions and enhances their ability to efficiently manage accounting processes. A thorough comprehension of financial statements and asset and liability valuation methods is crucial for assessing a company's financial health and making informed financing strategy decisions.
I wish all students a successful completion of this course, which will open doors to exciting career opportunities in the financial sector.
Andrea Tomášková
ISP students: in addition, they prepare a 5-page seminar paper, word. Agree the topic in advance with the teacher.
The course is also listed under the following terms Winter 2007, Winter 2008, Winter 2009, Winter 2010, Winter 2011, summer 2012, Winter 2012, Winter 2013, Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2019, Winter 2020, Winter 2021, Winter 2022, Winter 2023.
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