Accounting

• 26 hrs lectures
• 26 hrs exercises

Students will understand the basic principles of accounting and interconnection in accounting operations and in financial statements. Students will gain the skills of identification of accounting operations and their influence on the items of financial statements, and skills of preparation of financial statements.

The objective of the subject is to explain to students in the basic principles of accounting and in the primary interconnections in financial statements that are the key to an understanding of any accounting system.

Basic general knowledge of business economics.

1. Characteristics of double entry bookkeeping, legal treatment of bookkeeping in the Czech Republic, bookkeeping outputs.
2. Balance sheet, the 4 balance sheet changes.
3. Profit and loss account, creation of profit.
4. Fundamentals of bookkeeping, methodological instruments.
5. Clearing relations for curent assets (financial accounts and inventory).
6. Clearing relations - receivables  and payables (especially trade ones).
7. Fixed assets (acquisition, depreciation, elimination)
8. Equity, long-term outside sources (accounting for profit and long-term loans).
9. Overview of the costs and revenues. Closing procedures of the accounts.

10. Structure of the financial statements, disclosure and audit.

11. Accounting history, information technologies in accounting.

12. Regulation of the accounting, national and international reporting systems.

13. Harmonisation of the accounting accross the world, aplications of the IFRS standards.

1. Organizational matters, chharacteristics of double entry bookkeeping.
2. Balance sheet, balance sheet changes.
3. Profit and loss account, creation of profit.
4. Fundamentals of bookkeeping, methodological instruments.
5. Financial accounts (characteristics, evaluation and accounting for money, short-term loans and short-term securities).
6. Current assets – inventory (characteristics, valuation, accounting).
7. Clearing relations - receivables (especially trade receivables).
8. Clearing relations - payables (especially trade payables and for employees and shareholders).
9. Fixed assets (acquisition, depreciation).
10. Equity, long-term outside sources (accounting for profit and long-term loans).
11. Closing procedures of the accounting, structue of the financial statements.
12. Final written test.
13. Discussion on the results of the test.

Credit:
Credit written test (at the end of the semester). Pass mark 50 %.
Examination:
Written test with closed questions. Pass mark 50 %.
The credit will have a 40 % weighting in the overall course mark while the examination will account for 60 %.

The course contain one two-hour lecture per week that explains the basic principles, problems and methodology of the discipline. A two-hour seminar per week promoting practical applications of the material presented in the lectures.

Paticipation on lectures is recommended, student´s participation on seminar is monitored.

during consultancy hours published in the information system of the faculty