117-0434/01 – Accounting and Tax (ÚD)
| Gurantor department | Department of Accounting and Taxes | Credits | 5 |
| Subject guarantor | Ing. Jana Hakalová, Ph.D. | Subject version guarantor | Ing. Jana Hakalová, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 1 | Semester | winter |
| | Study language | Czech |
| Year of introduction | 2019/2020 | Year of cancellation | |
| 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
Lectures
Tutorials
Project work
Summary
The aim of the course is to explain the importance of accounting as a tool for displaying and understanding critical asset and capital operations and the financial position of business entities. The student will understand the issues of capturing accounting cases within all accounting classes and understand the interrelationships, including tax implications. The student will be able to determine the tax liabilities of business entities and also understand the process of determining the profit or loss of an entity. The student will be able to navigate the issues of financial reporting according to current Czech legislation.
Compulsory literature:
Recommended literature:
International Financial Reporting Standards 2010. International Accounting Standards Board. London, 2009.
WEYGANDT, Jerry, KIMMEL, Paul and Donald KIESO. Financial Accounting: IFRS Edition. John Wiley&Sons. 2010. 848 p. ISBN 13978-0470-55200-1.
Additional study materials
Way of continuous check of knowledge in the course of semester
Written credit - case study. Preparation of semester project.
Exam.
E-learning
Other requirements
Other specific requirements are not.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Introduction to accounting (importance, function, legal framework, accounting policies and principles, methodical and control elements of accounting, accounting books, method of bookkeeping, and chart of accounts, and others).
2. Long-term intangible and tangible assets (characteristics, valuation, depreciation, the methods of bookkeeping including tax perspective, and others).
3. Long-term financial assets (characteristics, valuation, the methods of bookkeeping, and others).
4. Inventory (characteristics, valuation, the methods of bookkeeping, and others).
5. Short-term financial assets and cash (characteristics, valuation, the methods of bookkeeping, and others).
6. Accounting relations (characteristics and methods of accounting for specifics cases including accounting of taxes and others).
7. Capital accounts and long term payables (characteristics, the methods of accounting of special cases, and others).
8. Expenses and revenues including tax point of view, finding of profit before and after taxation, determination of tax base, its adjustment according to the Income tax law and accounting of income tax due.
9. Closing accounts.
10.Procedure of the closure of the accounts in the end of the accounting period.
11. Closing and off-balance sheet accounts.
12. Financial statements and annual report.
13. Verification of financial statements and annual report by the auditor including publication.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction