KFFUI_T Financial Accounting I

Faculty of Economics and Administration
Autumn 2008
Extent and Intensity
0/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Petr Valouch, Ph.D. (lecturer)
Guaranteed by
doc. Ing. Jaroslav Sedláček, CSc.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Timetable
Sat 4. 10. 16:20–19:35 T1, Sat 25. 10. 16:20–17:55 T1
Prerequisites
The subject Financial accounting I connects on the knowledge that the students gained in their studies up to the present in the basic faculty courses. No special prerequisites are demanded.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The financial accounting is in the conditions of market economy a basic diagnostic tool that enables us to analyse and evaluate financial situation of economically active subjects. The double-entry method and accrual principle of accounting gives the management complex view on the financial health of the companies (corporations and institutions) and on the results of theirs management without regard to cash flows. Its object is fair and truly representation of assets and liabilities, costs and returns, equity capital and net income of the entrepreneurs. The aim of the subject is teach-in with the theoretical basis of the accounting, with its philosophy, with accounting environment and tasks that it should fulfil as one of the base financial management instruments. After its completion students should: - gain review about generally accepted principles, presumptions and principles of the accounting, about its functions, about base categories and about methods of economic phenomenon transformation in accounting, - gain also accounting techniques of economic transactions that can be seen in everyday life, - know definition of economic subjects assets and liabilities and impact of their changes on balance, on their costs and returns, on cash flow and on gained profit, - receive first knowledge about assets and capital representation, about appreciation methods, about long-term assets depreciation, about reserves and adjusting items creation and about constitution of accounting statements. Explication is led in the context of tax system impact on accounting and ongoing world and European accounting harmonisation.
Syllabus
  • 1. The substance and function of accounting, characteristic features, legal aspects of accounting, general accounting principles. Balance sheet in accounting, its function, system and utilization. 2. Assets and liabilities, their structure and definition, assets and liabilities classes, their mutual conjunctions. Balance sheet system, impact of economic transaction on a balance sheet. 3. Costs and returns of accounting unit as a part of profit and loss statement. 4. Methodical parts of accounting, account and account system, chart of accounts and account outline, accounting documents, account books, control system of accounting. 5. Liabilities and assets pricing in accounting unit, evaluation principles, valuation base, valuation of assets of the same class, financial assets valuation. 6. Taxes in accounting, theoretical attitudes to long-term assets depreciation, methods of creation and clearance of reserves and adjusting items. 7. Methods of long-term assets depreciation (accounting and tax perspective too). 8. Reserves and adjusting items in accounting (carefulness principle). 9. Financial accounts, their structure and meaning, cash, cash in transit, bank accounts. 10. Inventory, its definition and inventory valuation method. Inventory function and basic accounting operations, two ways of accounting – A and B. Uniqueness of accounting about internally produced inventory. 11. Classification of long-term assets, ways of their acquisition. Basic procedures of accounting about acquisition and depiction during their lifetime. 12. Clearing relations. Procedures of accounting about receivables and liabilities of accounting unit (from business relations, to employees and to shareholders). 13. Basic accounting techniques about costs and returns. Equity and borrowed capital of accounting unit.
Literature
  • SEDLÁČEK, Jaroslav. Účetnictví. Vyd. 2. přeprac. Brno: Masarykova univerzita, 2005, 210 s. ISBN 8021038101. info
Assessment methods
Creation of WCT (work corrected by tutor). Written test.
Language of instruction
Czech
Further Comments
The course can also be completed outside the examination period.
The course is taught annually.
The course is also listed under the following terms Autumn 2005, Autumn 2006, Spring 2007, Autumn 2007.
  • Enrolment Statistics (recent)
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