Principles of Accounting
- The aim of the course is to provide students with the basic theoretical knowledge and practical skills in financial accounting and analysis.
- Have an idea about the place and the role of 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 and management reports
- Understand the essence of accounting terms and to use them properly
- Have basic practical skills in financial and management accounting and interpreting information
- Use analytical skills and apply them to solve practical problems
- Demonstrate an innovative, open, and ethical mindset
- Topic 1. Financial Accounting and the Format of Financial Statements1. 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 System1. Overview of accounting concepts 2. Nature of business transactions 3. Accounts 4. Transaction analysis and accounting entries
- Topic 3. Operating Decisions and the Accounting System1. The operating cycle 2. Accrual accounting 3. Transaction Analysis Rules
- Topic 4. The Accounting Cycle1. Accounting cycle 2. Purpose and types of adjustments 3. Adjustment process 4. Preparing financial statements 5. End of accounting cycle
- Midterm testThe 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.
- In-class activitiesQuestions and exercises; individual or in small groups, open book
- Final exam testThe 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 (2 module)0.5 * Final exam test + 0.2 * In-class activities + 0.3 * Midterm test
- Financial accounting, Libby, R., Libby, P.A., 2016
- Financial accounting, Libby, R., Libby, P.A., 2020
- 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