BE_PH_ACC BE-PH Basics of Accounting

NEWTON University
winter 2024
Extent and Intensity
2/2. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Marina Purina, Ph.D. (lecturer)
Marina Purina, Ph.D. (seminar tutor)
Guaranteed by
prof. Mgr. Ing. Renáta Pakšiová, Ph.D.
Centre for International Programmes – NEWTON University
Timetable
Tue 11:20–12:50 PH Učebna 09, except Tue 1. 10. ; and Tue 17. 12. 11:20–12:50 WebinarJam
  • Timetable of Seminar Groups:
BE_PH_ACC/201: Tue 13:30–15:00 PH Učebna 09, except Tue 1. 10. ; and Tue 17. 12. 13:30–15:00 PH Učebna 09, M. Purina
BE_PH_ACC/202: Tue 15:10–16:40 PH Učebna 09, except Tue 1. 10. ; and Tue 17. 12. 15:10–16:40 PH Učebna 09, M. Purina
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The course introduces the student to the issues of accounting of business entities. The aim of the course is to introduce students to the basic knowledge of the principles and methods of double-entry accounting for business entities. The course enables the student to acquire knowledge of the basics of double-entry accounting, i.e. knowledge of the subject matter and methodological elements of financial accounting. The student will learn to account for simple accounting cases that can be applied in current accounting practice and to understand the economic interrelationships needed by managers. Emphasis is placed on understanding financial statements and reported information. International accounting standards will also be introduced, as well as the specifics of accounting practices and basic financial statements in selected EU countries, the UK and the US. Course Objectives: - to acquire professional knowledge of accounting for business entities; - to acquire the skills to understand the system of financial reporting according to Czech and Slovak accounting legislation and the methods of accounting recording of economic data of economic entities; - to understand the content of international accounting standards as well as the specifics of accounting procedures and reporting in the environment of selected EU countries, the UK and the USA; - to foster the skills to understand the principles of financial statement preparation, being able to interpret individual financial statement information appropriately; - to increase competence in defining and solving decision-making problems based on accounting information; - to increase competence in reflecting the data obtained from accounting as an important tool for the effective work of corporate management.
Syllabus
  • Main topics of the course (topics of the course lectures): 1. Introduction to accounting (meaning and purpose of accounting, accounting principles, forms of accounting). 2. Basic elements of accounting (financial statements and their structure, system of accounts, accounting principles). 3. Legal regulation of accounting I (Accounting Act of the Czech Republic, Slovak Republic). 4. Legal regulation of accounting II (Decree 500/2002 Coll., Czech accounting standards, Slovak accounting regulation). 5. Fixed assets (definition and display of fixed assets, acquisition and valuation of fixed assets, depreciation and disposal of fixed assets, fixed asset records). 6. Inventories (functions of inventories, defining types of inventories and their presentation in accounting, valuation and inventory). 7. Financial accounts (recording and accounting for cash, securities, short-term loans and short-term financial assets). 8. Settlement relations (recording and accounting for receivables and payables, exchange differences and employees). 9. Capital accounts (accounting for share capital, profit funds, profit distribution, reserves). 10. Financial statements (closing operations, financial statements and their content). 11. International Accounting Standards. 12. Specific accounting practices and reporting in selected EU countries, the UK and the USA. The seminars will cover the following topics: 1. Introduction to accounting (introduction to the objectives of the course, basic principles of presentation in financial statements - balance sheet, profit and loss account, cash flow statement). 2. Basic accounting cases accounted for in balance sheet and profit and loss accounts I. 3. Basic accounting policies accounted for in the balance sheet and profit and loss accounts II. 4. Fixed assets (acquisition, depreciation and disposal of fixed assets). 5. Tax and accounting depreciation of fixed assets. 6. Inventories (accounting for materials, stock of goods; value added tax). 7. Accounting for inventories - a complex example. 8. Inventories, accounting in financial accounts. 9. Settlement relations I. 10. Settlement relations II. 11. Financial statements. 12. Examples of accounting practices in selected EU, UK and US countries.
Assessment methods
Ungraded credit (on campus): minimum participation in seminars 80%, minimum 50% success in mid-term tests. Exam (pres., dist.): final exam (in the case of a distance form of study, implemented through suitable remote electronic communication systems)
Language of instruction
English
The course is also listed under the following terms summer 2020, winter 2022, winter 2023.
  • Enrolment Statistics (recent)
  • Permalink: https://is.newton.cz/course/nu/winter2024/BE_PH_ACC