Course syllabus FU1 - Financial Accounting I (FBE - WS 2019/2020)


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Course code: FU1
Course title in language of instruction: Finanční účetnictví I
Course title in Czech: Financial Accounting I
Course title in English: Financial Accounting I
Mode of completion and number of credits: Exam (5 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes: full-time, 2/1 (hours of lectures per week / hours of seminars per week)
part-time, 16/0 (lectures per period / seminars per period)
Language of instruction: Czech
Level of course: bachelor
Semester: WS 2019/2020
Name of lecturer: Ing. Břetislav Andrlík, Ph.D. (examiner, instructor, lecturer, supervisor)
Mgr. Ing. Lucie Formanová, Ph.D. (examiner, instructor)
Dr. Ing. Jana Gláserová (examiner, instructor)
Prerequisites: Tax System
 
Aims of the course:
Students will be acquainted with the importance and positioning of accounting in the company, with the principles of balancing and methodical means of accounting and their use in view of assets, liabilities, costs, revenues and profit. Students will acquire practical accounting skills in the current accounting period as well as operations at the balance sheet date including the preparation of financial statements.
 
Course contents:
1.Principles of accounting (allowance 6/4)
 
a.Definition of accounting, information needs of user of financial statements, nature and status of accounting information system. Balance sheet, balancing principle. Importance of the balance sheet, the form of balance sheet. Economic and accounting operations, their influence on items of balance sheet. Methodological instruments of accounting (accounting documents, chronology, synthetic and analytical accounts. Eduction of asset and liability accounts and profit or loss account, synthetic and analytical accounts, recording of economic transactions using accounts. The control system of accounting (material and nominal correctness.Closing accounts, recognition of profit or loss. Reporting - financial statements (form and content).

2.Legislation in the area of accounting (Accounting Act, Publice Notice Nr. 500 of HM Treasury, Czech Accounting Standards, Internal Accounting rules) (allowance 2/0)
3.Financial accounting for entrepreneurs - Account Class 1 - Inventories (allowance 0/0)
 
a.Identification and valuation of inventories. Method A - continuous method of booking of inventories purchased. Methods for valuation of inventories of the same kind of stock. Method B - periodical method of booking of inventories purchased. Booking of materials and merchandise at the closing day.

4.Financial accounting for entrepreneurs - Account Class 2 - Short-term financial assets and bank loans and financial accomodations (allowance 0/0)
 
a.Booking of cash and valuables (duty stamps and others. Bank accounts, cash in transit. Short-term securities and ownership interests. Short-term bank loans and short-term accomodations.

5.Financial accounting for entrepreneurs - Account Class 3 - Receivables and liabilities (allowance 1/1)
 
a.Trade receivables and payables. Payroll, payables from partners, cooperative members and association members. Tax duties. Estimated receivable and estimated payables.

6.Financial accounting for entrepreneurs - Account Class 0 - Fixed assets (allowance 6/4)
 
a.Tangible and intangible fixed assets - definition and valuation. Booking of acquisition, depreciation and ammmortization and disposals of tangible and intangible fixed assets. Inventory of tangible and intangible fixed assets and booking at the closing day. Leasing contracts. Long-term financial assets (securities). Acquisition and valuation at the balancing day.

7.Financial accounting for entrepreneurs - Account Class 4 - Recording of equity (allowance 3/1)
 
a.Establishment of a capital company
b.Increases and reductions in capital
c.Provisions
d.Long-term payables

8.Costs, expenses nad revenues, classification, methods of booking. (allowance 1/0)
9.Closing entries, profit or loss calculation in personal and capital companies, profit or loss allocation. (allowance 1/1)
10.Accounting statements (contents and form) (allowance 2/0)
 
Learning outcomes and competences:
Generic competences:
 
-Ability to analyse and synthesize
-Ability to apply knowledge
-Ability to make decisions
-Professional knowledge
-Skilled at utilizing and processing information

Specific competences:
 
-Ability to assess the impact of the economic transactions recording in the financial statements
-Ability to capture the business / economic transactions in the accounting system
-The ability of professional explanation and definition in the field of accounting and taxes

Type of course unit: required
Year of study: Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement: There is no compulsory work placement in the course unit.
Recommended study modules: -
 
Learning activities and study load (hours of study load):
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h0 h
     practice14 h0 h
     consultation10 h16 h
Self-study
     preparation for exam42 h90 h
     preparation for regular assessment21 h34 h
     preparation for regular testing25 h0 h
Total140 h140 h
 
Assessment methods:
Credit is awarded upon successful passing e-test. The course is completed by passing a written examination, which consists following parts - part "examples" and part "theory". Successful completion requires minimalized 65% of correct answers. Writing time is 150 minutes.
 
Recommended reading:
TypeAuthorTitlePublished inPublisherYearISBN
REBRYCHTA,I a kol. Účetnictví podnikatelů 2018. Praha: Wolters Kluwer, 2018. 544 s. ISBN 978-80-7552-989-3.
REJANHUBA, M. Finanční účetnictví – obecné otázky. Praha: C.H. Beck-CZ, 2016. 304 s. ISBN 978-80-7400-614-2.
REKADLEČEK, J. Abeceda účetnictví pro podnikatele 2018 Olomouc: ANAG, 2018. 424 s. ISBN 978-80-7554-121-5.
RERYNEŠ, P. Podvojné účetnictví a účetní závěrka 2018. Olomouc: ANAG, 2018. 1064 s. ISBN 978-80-7554-116-1.

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Last modification made by Ing. Jiří Gruber on 09/17/2019.

Type of output: