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Regular version of the site

Financial Accounting

2024/2025
Academic Year
ENG
Instruction in English
3
ECTS credits
Course type:
Compulsory course
When:
1 year, 1 module

Course Syllabus

Abstract

Financial accounting provides a comprehensive understanding of the principles and practices involved in recording, classifying, summarizing, and reporting financial transactions. This course covers the fundamental concepts of financial accounting, including: the accounting cycle; financial statements (balance sheet, income statement, cash flow statement); generally Accepted Accounting Principles; accounting for assets, liabilities, equity, revenue, and expenses. Educational process will consist of analyzing ppt presentations on each topic, illustrative examples in excel, Russian/European regulatory guidelines and other open information (IFRS reporting, regulatory reports, market researches and reports). Students will conduct qualitative and quantitative researches in order to extent general concepts which would be presented on lections.
Learning Objectives

Learning Objectives

  • The course will give the student a basic understanding of financial accounting
  • The course will give the student a basic understanding the role and importance of financial accounting in business; interpret and communicate financial information to users; use financial accounting data to make informed business decisions
Expected Learning Outcomes

Expected Learning Outcomes

  • Students should be able to understand the essence of accounting terms and to use them properly
  • Understand the purpose, structure, and content of the financial reporting in the modern market economy
  • Explain the concepts of financial and management accounting and its importance for businesses
  • Have basic practical skills in financial reporting and interpreting accounting information
Course Contents

Course Contents

  • Introduction to Financial Accounting
  • The Accounting Cycle
  • Financial Statements
  • Accounting for Assets
  • Accounting for Liabilities
  • Accounting for Equity
  • Accounting for Revenue
  • Accounting for Expenses
Assessment Elements

Assessment Elements

  • non-blocking Exam Test
    Individual, in-class, online in SmartLMS, closed-book. Duration: 80 min.
  • non-blocking Team Project
    The team project consists of two parts: video and in-class discussion. 1. Video: every group has to prepare a video about the findings of their analysis. The following requirements must be met: • Content: the video must include a descriptive analysis of any patterns across the companies that you as a team observe comparing and contrasting them according to the list of questions. • Length: 5 mins. • Format: as relevant and creative as it can be. 2. In-class discussion: after each video, a five-minute discussion session will follow. Each group member will be asked at least one content question to defend his/her contribution to the analysis and to reflect on findings.
Interim Assessment

Interim Assessment

  • 2024/2025 1st module
    0.6 * Exam Test + 0.4 * Team Project
Bibliography

Bibliography

Recommended Core Bibliography

  • Financial accounting, Libby, R., 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

Recommended Additional Bibliography

  • 9781509711352 - BPP Learning Media - Foundations in Accountancy : F3/FFA Financial Accounting: Interactive Text: for Exams From 1 September 2017 to 31 August 2018 - 2017 - BPP Learning Media - https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1522342 - nlebk - 1522342

Authors

  • SOLOVEVA EKATERINA EVGENEVNA