Introduction to Financial Accounting
- 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.
- Use analytical skills and apply them to solve practical problems.
- Have basic practical skills in financial accounting and analysis.
- 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.
- Topic 1. What is accounting and it's role in business1. Definition of accounting 2. Users of accounting information 3. Types of accounting 4. How Has Accounting Developed?
- Topic 2. Financial Statements and Accounting Principles1. Balance sheet 2. Income statement 3. Statement of changes in owner’s equity 4. Cash flow statement 5. Financial statement relationships 6. Accounting principles 7. Limitations of Financial Statements
- Topic 3. The bookkeeping process and transaction analysis1. The accounting equation – a mechanical key 2. How transactions impact the accounting equation 3. Bookkeeping procedures 4. Transaction Analysis Methodology
- Topic 4. Fundamental interpretations made from financial statement data1. Return on investment 2. Return on equity 3. Working capital and measures of liquidity 4. Illustration of trend analysis
- Test 1Individual, in-class, open book
- Test 2Individual, in-class, open book
- Test 3Individual, in-class, open book
- Test 4Individual, in-class, open book
- Test 5Individual, in-class, open book
- Final exam testIndividual, in-class, closed book
- 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
- Financial accounting, Libby, R., 2016
- 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
- BPP LEARNING MEDIA. (2017). FIA FOUNDATIONS OF FINANCIAL ACCOUNTING FFA (ACCA F3) : Passcards. BPP Learning Media.