Fundamentals of Financial Accounting

HomeStudy programmes
Fundamentals of Financial Accounting
Semester
6.
ECTS credits
5 ECTS
Head professor

Goal

The goal of the course is to introduce students to the specifics and methods of accounting monitoring and studying the business process of economic entities for the purpose of compiling and analysing financial statements, i.e., creating an information base for decision-making needs. Simultaneously, the goal of this course is reflected in the ability to independently (correctly) select and interpret appropriate techniques for presenting business events in order to understand fundamental financial statements. The student should master the knowledge presented in the teaching process and establish the connection between financial accounting reporting and the legal framework (IFRS, CAS, the Accounting Act, and other related legal frameworks). During lectures, students will solve a large number of assignments and case studies with practical applications. Through active participation in lectures and tutorials, and individual and team assignments, students will develop the ability to make business decisions based on external financial statements.

Additional info
  1. Introduction to accounting. Introduction to financial accounting (week 1).
  2. Objectives of financial reporting, assumptions and characteristics of financial statements, fundamental financial statements (weeks 2 and 3).
  3. Principles of valuation of financial statement elements, users of accounting information (weeks 4 and 5).
  4. Accounting standards and financial reporting standards (weeks 6, 7, and 8).
  5. Mergers and acquisitions (weeks 10 and 11).
  6. Consolidated financial statements (weeks 12 and 13).
  7. Accounting policies and estimates (week 14).
There are no listed course associates.
Lectures: 30
Seminars: 0
Exercises: 0
  1. To discuss the role and importance of accounting information in financial statements.
  2. To distinguish the role and meaning of the four main financial statements at the end of a business period by connecting the constructs between the four main financial statements.
  3. To apply various accounting methods/techniques for the valuation of balance sheet items in accordance with the set of IAS/IFRS standards (selected standards) and to critique the applicability of various techniques.
  4. To apply accounting standards to relevant business processes and to assess the advantages and disadvantages of accounting theories with a specific focus on IFRS standards.
  5. To understand acquisition processes and intercompany transactions, and to demonstrate the ability to identify financial errors.
Merlin e-learning system
magnifiercrossmenuplus circlecircle-minus LinkedIn facebook Pinterest youtube RSS Twitter Instagram facebook-blank rss-blank linkedin-blank Pinterest youtube Twitter Instagram Skip to content