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Course detail
FP-UfuPAcad. year: 2023/2024
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.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Entry knowledge
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.
Rules for evaluation and completion of the course
In order to be awarded the credit is necessary to complete and succesfully (min. 50 %) produce test final test.The examination is in writing form, or in form an electronic test.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 %.
The same conditions apply to the individual study plan, only it is possible to agree on different credit and exam dates.
In case of disruption of face-to-face teaching due to quarantine and similar measures, credit tests and exams will take place under the same conditions via e-learning (Moodle + MS Teams).
Participation of students in seminars is monitored (max. 3 absencees).
Aims
Study aids
Prerequisites and corequisites
Basic literature
Recommended reading
Elearning
Classification of course in study plans
Lecture
Teacher / Lecturer
Syllabus
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 liquidation3. Current assets – inventory: bookkeeping procedures by method B,pricing on consumption, inventory from own production4. Current assets – receivables: statement of claims focused on trade receivables, provisions, writing off receivables, assignment of claims5. Balance sheet liabilities - equity 6. Balance sheet liabilities - external funding sources 7. Costs and revenues, their structure, content and accounting in accounting cost classes8. Profit: ascertaining the profit, accounting for its distributions 9. Cut-off entries in the wider sense, cost and revenue accruals, accrued items and exchange rate differences by balance-sheet date10. Closure of accounts, income tax (current and deferred tax)11. Producing and verifing of financial statements and annexes, annual reports
12. Disclosure and vefification of the financial statements, basic auditors procedures13. The digitalization of accounting work, communication of the accountant with shareholders
Exercise