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Regular version of the site

Introduction to Financial Accounting

2019/2020
Academic Year
ENG
Instruction in English
2
ECTS credits
Course type:
Bridging course
When:
1 year, 1 module

Instructor

Course Syllabus

Abstract

This is an introductory course serves as a pre-requisite for Financial Accounting and Financial Analysis course. Students will learn about accounting as an information and communication function that supports the management planning, control and decision-making processes integral to achieving organizational objectives.
Learning Objectives

Learning Objectives

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

Expected Learning Outcomes

  • Use strong analytical skills and apply them to solve practical problems.
  • Have basic practical skills in financial reporting under International Financial Reporting Standards.
  • Understand the essence of accounting terms and to use them properly.
  • Understand the conceptual framework of accounting and the purpose, structure and content of the financial reporting in the modern market economy.
  • Have an idea about the place and the role of financial accounting in the system of management of the economic entity.
  • Demonstrate an innovative, open and ethical mindset.
Course Contents

Course Contents

  • Topic 1. What is accounting and it's role in business
    1. Definition of accounting 2. Users of accounting information 3. Types of accounting 4. International accounting standardization
  • Topic 2. Financial statements: definitions and structure
    1. Balance sheet 2. Income statement 3. Statement of changes in owner’s equity 4. Cash flow statement 5. Financial statement relationships
  • Topic 3. Basic accounting concepts
    1. Concepts related to the entire model 2. Concepts related to transactions 3. Concepts related to bookkeeping procedures 4. Concepts related to financial statements
  • Topic 4. The bookkeeping process and transaction analysis
    1. The accounting equation – a mechanical key 2. How transactions impact the accounting equation 3. Bookkeeping procedures 4. Transaction Analysis Methodology
  • Topic 5. Communicating and interpreting accounting information
    1. Players in the accounting communication process 2. A question of ethics 3. The disclosure process 4. Differenced in accounting: international prospective
Assessment Elements

Assessment Elements

  • non-blocking Test 1
    Individual, in-class, open book
  • non-blocking Test 2
    Individual, in-class, open book
  • non-blocking Test 3
    Individual, in-class, open book
  • non-blocking Test 4
    Individual, in-class, open book
  • non-blocking Test 5
    Individual, in-class, open book
  • non-blocking Final exam test
    Individual, in-class, closed book
Interim Assessment

Interim Assessment

  • Interim assessment (1 module)
    0.5 * Final exam test + 0.1 * Test 1 + 0.1 * Test 2 + 0.1 * Test 3 + 0.1 * Test 4 + 0.1 * Test 5
Bibliography

Bibliography

Recommended Core Bibliography

  • Financial accounting, Libby, R., Libby, P.A., 2016
  • Murthy, G. (2009). Financial Accounting (Vol. 1st ed). Mumbai [India]: Himalaya Publishing House. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=342112

Recommended Additional Bibliography

  • Stittle J., Wearing R.T. Financial Accounting [Electronic resource] / J. Stittle, R.T. Wearing. – SAGE Publications, 2008. – 177 p. – URL: https://ebookcentral.proquest.com/lib/hselibrary-ebooks/detail.action?docID=420915