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Principles of Accounting

Учебный год
Обучение ведется на английском языке
Курс обязательный
Когда читается:
2-й курс, 1, 2 модуль


Чургель Анатолий Олегович

Course Syllabus


The core role of the course is to sensitize students to the international dimensions of financial accounting and reporting. The world in which they will pursue their professional careers is a world dominated by global business and investment decisions. As most of these decisions are premised on financial data, knowledge of financial accounting is crucial for achieving proper understanding of international business and financial communications. Accounting amounts may vary substantially according to the principles that govern them. Financial statements and other disclosures are impossible to understand without an awareness of the underlying accounting principles and business culture.
Learning Objectives

Learning Objectives

  • The aim of the course is to provide students with the basic theoretical knowledge and practical skills in financial accounting and analysis.
Expected Learning Outcomes

Expected Learning Outcomes

  • Have an idea about the place and the role of financial accounting in the system of management of the economic entity
  • Understand the conceptual framework of accounting and the purpose, structure and content of the financial reports
  • Understand the essence of accounting terms and to use them properly
  • Have basic practical skills in financial accounting and interpreting information
  • Use analytical skills and apply them to solve practical problems
  • Demonstrate an innovative, open, and ethical mindset
Course Contents

Course Contents

  • Topic 1. Financial Accounting and the Format of Financial Statements
    1. The accounting system 2. The Balance Sheet 3. The Income Statement 4. Statement of Stockholders’ Equity 5. Statement of Cash Flows 6. Relationships among statements 7. Responsibilities for the accounting communication process
  • Topic 2. Investing and Financing Decisions and the Accounting System
    1. Overview of accounting concepts 2. Nature of business transactions 3. Accounts 4. Transaction analysis and accounting entries
  • Topic 3. Operating Decisions and the Accounting System
    1. The operating cycle 2. Accrual accounting 3. Transaction Analysis Rules
  • Topic 4. The Accounting Cycle
    1. Accounting cycle 2. Purpose and types of adjustments 3. Adjustment process 4. Preparing financial statements 5. End of accounting cycle
  • Topic 5. Reporting Revenue, Receivables, and Cash
    1. Accounting for net sales revenue 2. Measuring and reporting receivables 3. Reporting cash
  • Topic 6. Reporting Cost of Goods Sold and Inventory
    1. Nature of inventory and cost of goods sold 2. Inventory costing methods 3. Evaluating inventory management 4. Control of inventory
  • Topic 7. Reporting Property, Plant, and Equipment; Intangibles
    1. Acquisition and maintenance of PPE 2. Use, impairment, and disposal of PPE 3. Intangible assets
  • Topic 8. Reporting Liabilities
    1. Liabilities defined and classified 2. Short-term liabilities 3. Long-term liabilities
  • Topic 9. Reporting Owners’ Equity
    1. Ownership of a corporation 2. Common stock transactions 3. Dividends on common stock
  • Topic 10. Analyzing financial statements
    Compute and interpret: 1. component percentages 2. profitability ratios 3. asset turnover ratios 4. liquidity ratios 5. solvency ratios 6. market ratios
Assessment Elements

Assessment Elements

  • non-blocking Midterm test
    The midterm test will take the form of a 2-hour (80 min) open book test: individual, in-class. The test consists of 40 questions and tasks for the topics: 1,2,3,4.
  • non-blocking In-class activities
    Questions and exercises; individual or in small groups, open book
  • non-blocking Final exam test
    The final exam will take the form of a 2-hour (80 min) open book test: individual, online. The exam test consists of 40 questions and tasks for the whole course.
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.5 * Final exam test + 0.2 * In-class activities + 0.3 * Midterm test


Recommended Core Bibliography

  • Financial accounting, Libby, R., Libby, P.A., 2016
  • Financial accounting, Libby, R., Libby, P.A., 2020

Recommended Additional Bibliography

  • Weygandt, J. J., Kieso, D. E., & Kimmel, P. D. (2017). Financial Accounting (Vol. Tenth edition). Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1639274