117-0521/01 – European Accounting (EA)
| Gurantor department | Department of Accounting and Taxes | Credits | 5 |
| Subject guarantor | Ing. Lenka Halouzková, Ph.D. | Subject version guarantor | Ing. Lenka Halouzková, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 2 | Semester | summer |
| | Study language | English |
| Year of introduction | 2010/2011 | Year of cancellation | 2010/2011 |
| Intended for the faculties | EKF | Intended for study types | Bachelor |
Subject aims expressed by acquired skills and competences
1. To emphasize the importance of accounting as the enterprise financial management tool.
2. To feature the importance of accounting operation in individual areas of accounting.
3. To explain the differences of accounting and tax conception of costs and revenues.
4. To clarify the connection and the impact of accounting operation to disclosed financial statements.
Teaching methods
Summary
The purpose of the subject is to acquaint students with fundamental trends of accountancy harmonization in Europe, directives EU and International Financial Reporting Standards. The intent is also to introduce International Financial Reporting Standards.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
seminar paper
E-learning
Other requirements
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Accounting system and the balance sheet equation
Accounting and its meaning, function, fundamentals, law frame. Double - entry accounting definition. Accounting system and the balance sheet equations. Users of accounting information. Effects of business transactions upon the balance sheet.
2. Accounting concepts
Accruals/matching, business entity, consistency, dual aspect, going concern, materiality, money measurement, objectivity/cost, prudence, realization. Practical aspects of accounting concepts. Methodical and check elements of accounting.
3. Primary financial statements
Primary financial statement preparation. Balance sheet, Income statement, Statement of changes in owners´ equity, Cash flow.
4. Introduction to the European accounting, harmonization of accounting, EU directives
5. International Accounting Standards/ International Financial Reporting Standards – Conceptual framework. IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.
6. IAS 1 - Presentation of Financial Statements, IFRS 1 - First time Adoption of International Financial Reporting Standards
7. Long term tangible and intangible assets
Classification, measurement, nature and purpose of depreciation, depreciation methods. IAS 16 - Property, Plant and Equipment. IAS 38 - Intangible assets.
8. Accounting for stock-in-trade
Definition of stock -in-trade. Stock valuation methods - FIFO, LIFO, AVCO. Perpetual inventory system. Annual physical inventory. IAS 2 – Inventories.
9. Cash. Accounts receivable
Cash. Accounts receivable, uncollectible accounts, the allowance for doubtful debts.
10. Cost, Expenses, Revenues
Terminology, classification of costs, expenses, revenues. Accruals, prepayments. Adjustments to final accounts. IAS 18 – Revenues.
11. Equity and liabilities
Corporate capital. Accounting for and reporting long-term liabilities.
Conditions for subject completion
Conditions for completion are defined only for particular subject version and form of study
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
Předmět neobsahuje žádné hodnocení.