117-0521/01 – European Accounting (EA)

Gurantor departmentDepartment of Accounting and TaxesCredits5
Subject guarantorIng. Lenka Halouzková, Ph.D.Subject version guarantorIng. Lenka Halouzková, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Study languageEnglish
Year of introduction2010/2011Year of cancellation2010/2011
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
HAL77 Ing. Lenka Halouzková, Ph.D.
JAS067 Ing. Jan Jašek
RAN03 Ing. Kateřina Krzikallová, Ph.D.
LIH80 Ing. Marie Lichnovská, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Examination 2+1

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


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:

[1] Jones, M. J. Financial Accounting. UK: Wiley, 2006. ISBN 978-0-470-05898-5. [2] Wild, John J.; Larson, Kermit D.; Chiappetta, Barbara. Fundamental Accounting Principles. TextbookXpres, 2006. ISBN 978-0-072-996531. [3] International Accounting Standards/ International Financial Reporting Standards (http://ec.europa.eu/internal_market/accounting/ias_en.htm) [4] PricewaterhouseCooper: Accounting legislation in 2007/introduction by PricewaterhouseCooper. Praha: Trade Links, 2007. [5] Glautier, B. Accounting theory and praktice. 7th ed. London: Financial Times Prentice Hall, 2001. ISBN 0-273-65161-7. [6] Black Geoff, Daff Trevor: Accounting. Essex: Longman, 1994, ISBN 0-582-22569-8.

Way of continuous check of knowledge in the course of semester

seminar paper


Další požadavky na studenta


Subject has no prerequisities.


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

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2010/2011 (B6208) Economics and Management (6208R174) European Business Studies P Czech Ostrava 2 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner