Financial Accounting and Financial Analysis
- The aim of the course is to provide students with the basic theoretical knowledge and practical skills in financial accounting, reporting and analysis in accordance with International Financial Reporting Standards.
- 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 reporting in the modern market economy.
- Understand the essence of accounting terms and to use them properly.
- Have basic practical skills in financial reporting and interpreting accounting information under International Financial Reporting Standards.
- Use strong analytical skills and apply them to solve practical problems.
- Demonstrate an innovative, open and ethical mindset.
- Topic 1. Financial statements and Business Decisions.The accounting system. The Balance Sheet. The Income Statement. Statement of Stockholders’ Equity. Statement of Cash Flows. Relationships among statements. Responsibilities for the accounting communication process.
- Topic 2. Investing and Financing Decisions and the Accounting System.Overview of accounting concepts. Nature of business transactions. Accounts. Transaction analysis and accounting entries.
- Topic 3. Operating Decisions and the Accounting System.The operating cycle. Accrual accounting. Transaction Analysis Rules.
- Topic 4. Adjustments, Financial Statements, and the Quality of Earnings.Accounting cycle. Purpose and types of adjustments. Adjustment process. Preparing financial statements. End of accounting cycle.
- Topic 5. Communicating and Interpreting Accounting Information.Players in the accounting communication process. The disclosure process. A closer look at financial statement formats and notes.
- Topic 6. Reporting and Interpreting Sales Revenue, Receivables, and Cash.Accounting for net sales revenue. Measuring and reporting receivables. Reporting cash.
- Topic 7. Reporting and Interpreting Cost of Goods Sold and Inventory.Nature of inventory and cost of goods sold. Inventory costing methods. Evaluating inventory management. Control of inventory.
- Topic 8. Reporting and Interpreting Property, Plant, and Equipment; Intangibles.Acquisition and maintenance of plant and equipment. Use, impairment, and disposal of plant and equipment. Intangible assets.
- Topic 9. Reporting and Interpreting Liabilities.Liabilities defined and classified. Short-term liabilities. Long-term liabilities.
- Topic 10. Reporting and Interpreting Owners’ Equity.Ownership of a corporation. Common stock transactions. Dividends on common stock. Stock dividends and stock splits. Statement of changes in Stockholders’ Equity. Preferred stock.
- Topic 11. Statement of Cash Flows.Classifications of the statement of cash flows. Reporting and interpreting cash flows from operating activities. Reporting and interpreting cash flows from investing activities. Reporting and interpreting cash flows from financing activities. Additional disclosures.
- In-class activitiesIndividual, online in LMS, open book
- Midterm testIndividual, online in LMS, open book
- Team projectIn small groups, online in LMS, open book
- Final examThe exam will be synchronously proctored via the «Examus» proctoring system (https://hse.student.examus.net). Examination Procedure with the Use of the Examus Service ∙ Install the Yandex.Browser or the Google Chrome web browser (https://www.google.com/chrome/); ∙ Using the Yandex.Browser or Google Chrome web browser, go to the following page: ∙ https://hse.student.examus.net and click on blue button ‘Сессия НИУ ВШЭ’, log in and have your e-mail account verified; ∙ On the examination day, at the appointed time (or 10 minutes before it), go to https://hse.student.examus.net and click on the name of the test you wish to take; ∙ Take a photo of your identification document and send it to the Proctor for verification; ∙ You can now start the exam; ∙ Upon the completion of the exam click on ‘End the Exam’ button; ∙ Close the Examus tab. and click on, log in and have your e-mail account verified; It is necessary to login 15 minutes before the exam is due to begin. Every student can test the «Examus» system here: https://student.examus.net/?sessionId=24799&serverOrigin=https://stage.examus.net/. Some basic information on proctoring: https://spb.hse.ru/mirror/pubs/share/367863268.pdf. Student’s computer should meet the following requirements: https://spb.hse.ru/mirror/pubs/share/367863268.pdf). To participate in the exam, student is obliged to: upload a profile photo, turn camera and microphone on, confirm the identity. During the exam it is forbidden to: communicate (in social networks, with people in the room), use written notes (in a notebook or on printed sheets), open pages in the Internet, use a mobile phone or other electronic devices other than a calculator for calculations. It is also forbidden to make phone calls or receive calls and perform other forms of communication. During the exam it is allowed to use a calculator that only has this function. If the internet communication interruption is up to 5 minutes, it will be regarded as a brief connection break. If the internet communication interruption is 5 minutes or more, it will be regarded as a longer connection break and will entail the exam cessation. The retake procedure is identical to the exam procedure.
- Interim assessment (4 module)0.4 * Final exam + 0.1 * In-class activities + 0.2 * Midterm test + 0.3 * Team project