Course detail

Principles of Accounting

FP-U1_1Acad. year: 2011/2012

The subject is focused on the bases and basic principles of accounting, i.e. stress is put on construction of the balance, on changes in balance, on recognition of costs and revenues, on creation of profit/loss and on cash flows in a business entity.

Language of instruction

Czech

Number of ECTS credits

5

Mode of study

Not applicable.

Guarantor

Ing. Michaela Beranová, Ph.D.

Department

Institute of Finances (ÚF)

Learning outcomes of the course unit

Students will understand the basic principles of accounting and interconnection in accounting operations and in financial statements. Students will gain the skills of identification of accounting operations and their influence on the items of financial statements, and skills of preparation of financial statements.

Prerequisites

Basic general knowledge of business economics.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

Teaching methods depend on the type of course unit as specified in the article 7 of BUT Rules for Studies and Examinations.

Assesment methods and criteria linked to learning outcomes

Credit:
1) Two written tests (in the middle and at the end of semester). The required minimum for each test is 50 %.
2) Assignment - simulation of simple accounting agenda. The assignment is elaborated by maximum 4-members teams. Deadline for the assignment is on the seminar in the 12th week of semester. Lated delivery of assignment is on acceptable.

Exam:
Writtent - consists in two parts
1) multiple-choice test
2) practical part - complex case study
Minimum requiered is 60 %.

Course curriculum

1) Logic and importance of accounting. Methodological tools of accounting.
2) Balance. Changes in balance.
3) Valuation of assets and liabilities.
4) Costs and revenues. Profit/loss. Profit and loss statement.
5) Cash flows.
6) Legal framework of accounting in the Czech republic. Harmonization of accounting. Application of IFRS.

Work placements

Not applicable.

Aims

Objective of the subject is to educate the students in the field of basic principles of accounting and in the primary interconnections in financial statements which are the key to understanding of any accounting system.

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

Student´s participation on seminar is controlled.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

České účetní standardy pro podnikatele, v platném znění. (CS)
Kovanicová, D. Abeceda účetních znalostí pro každého. 19.vyd., BOVA POLYGON, 2009. ISBN 978-80-7273-156-5. (CS)
Kovanicová, D. Finanční účetnictví – světový koncept. 5.vyd., BOVA POLYGON, 2005. ISBN 80-7273-129-7. (CS)
Vyhláška č.500/2002 Sb., kterou se provádějí některá ustanovení zákona o účetnictví, v platném znění. (CS)
Zákon č. 563/1191 Sb., o účetnictví, v platném znění. (CS)

Recommended reading

Fedorová,A.,Beranová,M.: Základy účetnictví - Pracovní listy I. Brno, Akademické nakladatelství CERM, s.r.o., 2009. (CS)
Strouhal, J. a kol. Účetnictví 2010: Velká kniha účetních příkladů. 1.vyd., Computer Press, 2010. ISBN 978-80-251-2907-4. (CS)

Classification of course in study plans

  • Programme BAK Bachelor's

    branch BAK-DP , 1 year of study, summer semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Ing. Michaela Beranová, Ph.D.

Syllabus

1) Logic and importance of accounting. History of accounting. Basic rules of accounting. Methodological tools of accounting.
2) Balance. Definition of items of the balance sheet.
3) Valuation and measurement of assets and liabilities. Measurement bases.
4) Costs and revenues. Profit and loss.
5) Profit and loss statement. Definition of items of the profit and loss statement at classification of costs by nature. Defition of itemts of the profit and loss statement at classification of costs by purpose.
6) Cash flows in business entity. Cash flow statement. Direct and indirect method of preparation of the cash flow. Definition of items of the cash flow statement.
7) Legal framework of accounting in the Czech republic. Harmonization of Accounting. Application of the IFRS.

Exercise

26 hod., compulsory

Teacher / Lecturer

Ing. Michaela Beranová, Ph.D.

Syllabus

1) Introduction to the subject.
2) Documentary principle of accounting. Proprieties of accounting documents. Document flow.
3) Balance. Assets and liabilitie.
4) Changes in balance.
5) Profit and loss account. Costs and revenuse. Connections between balance and protit and loss statement.
6) Business operation and their influence on the items of assets, equity and liabilities, costs, and revenues at VAT non-payers.
7) Business operation and their influence on the items of assets, equity and liabilities, costs, and revenues at VAT payers.
8) Business operation and their influence on the items of assets, equity and liabilities, costs, revenues, and on cash flows.
9) Preparation of the cash flow statement by direct method.
10) Preparation of the cash flow statement by indirect method.