MPF_AACC Accounting (Basics)

Faculty of Economics and Administration
Autumn 2013
Extent and Intensity
2/2/0. 8 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Bc. Alois Konečný, Ph.D. (lecturer)
Ing. Jana Pokorná, Ph.D. (assistant)
Ing. Ladislav Šiška, Ph.D. (assistant)
Guaranteed by
Ing. Bc. Alois Konečný, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Ing. Bc. Bohdana Čechová
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Tue 16:20–17:55 S307
  • Timetable of Seminar Groups:
MPF_AACC/01: Wed 11:05–12:45 S308, A. Konečný
Prerequisites
(! BPF_FIU1 Financial Accounting 1 ) && (! BPF_FIU2 Financial Accounting 2 ) && (! PFFUI Financial Accounting I )&& (! PFFUII Financial Accounting II )
The course Accounting is a follow-up to the basic courses of accounting at other high schools and knowledge gained there. 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.

The capacity limit for the course is 24 student(s).
Current registration and enrolment status: enrolled: 0/24, only registered: 0/24
fields of study / plans the course is directly associated with
Course objectives
At the end of this course a student should be able to:
- describe and explain basic principles, assumptions and principles of financial accounting;
- use basic methods of accounting viewing economic processes in companies;
- to analyze the simple economic problems, establish a procedure to assess the impact of accounting and financial solutions for profit;
- compile the financial statements of the enterprise;
- characterize the general methods of harmonization in accounting;
- understand to concept of IFRS.
Syllabus
  • 1. Substance and functions of accounting, characteristic features and 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 relations. Balance sheet system, impact of economic transactions on balance sheet.
  • 3. Costs and revenues of accounting unit as part of profit and loss statement and related accounting procedures.
  • 4. Methodical parts of accounting, account and account system, chart of accounts and outline of accounts, accounting documents, account books, accounting control system.
  • 5. Inventory accounting methods, its valuation, inventorying and analytical evidence. 3. Specific accounting techniques concerning internally produced inventory. Strange cases of inventory accounting at the end of accounting period.
  • 6. Financial accounts, their structure and importance, cash, cash in transit, bank accounts.
  • 7. Accounting techniques concerning long-term assets of accounting unit. Classification of long-term assets, ways of their acquisition. Basic procedures of accounting of assets acquisition and depiction during their lifetime. Methods of long-term assets depreciation (accounting perspective).
  • 8. Characteristic of clearing relations. Accounting procedures concerning receivables and liabilities from business relationships.
  • 9. Accounting concerning equity of accounting unit. Changes in equity, capital funds, profit funds, accumulated profit or outstanding loss from previous years and loss/profit from this accounting period.
  • 10. Accounting concerning long-term borrowed capital and reserves. Obligation emission and long-term bank credits.
  • 11. Compilation of closing accounting statements – balance sheet, profit and loss statement, Notes to the financial statements, cash flow statement and equity changes statement.
  • 12. Introduction to the European accounting, harmonization of accounting, Directives of the European union. US GAAP
  • 13. International Financial Reporting Standards - conceptual framework.
Literature
    recommended literature
  • SHAMROCK, Steven E. IFRS and US GAAP : a comprehensive comparison. Hoboken: John Wiley & Sons, 2012, x, 213. ISBN 9781118144305. info
  • IFRS made easy. Edited by Steven M. Bragg. Hoboken, N.J.: Wiley, 2011, x, 266 p. ISBN 9781118003626. info
  • MLÁDEK, Robert. IFRS policies and procedures. Vyd. 1. Praha: Leges, 2009, 351 s. ISBN 9788087212134. info
Teaching methods
Lecture of the theory, on the seminars accounting of basic economic operations typical for companies using the chart for the target businesses. Compilation of simplified financial statements.
Assessment methods
Claims for exam: Successfully going through control tests during semester (two tests, both passed). The next claims for admission to exam are exercise presentation at the blackboard that has every student to fulfil during semester at specified date. The exercise is chosen to every student by the lector always in minimally one week advance. Unless the student is excused (he is ill), he has to present the exercise at specified date. There is written exam (2 to 3 theoretical questions and 2 to 3 examples).
Language of instruction
English
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
Information about innovation of course.
This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

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The course is also listed under the following terms Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.
  • Enrolment Statistics (Autumn 2013, recent)
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