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.

Objective of the subject is to educate the students in the field of basic principles of accounting and in the primary interconnections in financial statements that are the key to understanding of any accounting system.

Basic general knowledge of corporate economics.

1. Characteristics of double entry bookkeeping, legal treatment of bookkeeping in the Czech Republic, bookkeeping outputs
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, elimination)
10. Equity, long-term outside sources (accounting for profit and long-term loans)
11. Costs and revenues (operational and financial)
12. Closing of accounts
13. Accountancy audit statements, duty of accounting units to publish statements

1) Introduction to the course.
2) Financial statements.
3) Balance sheet.
4) Profit and loss account.
5) Documenting in accountancy, rules for billing to accounts
6) Types of accounting operation, working procedures in accountancy
7) Accountancy on financial accounts
8) Clearing relations
9) Accounting for inventories
10) Accounting for fixed assets
11) Accounting for equity
12) Closing entries, preparation of financial statements
13) Credit test

Credit:
Credit written test. 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 two-hours lectures per week that explain basic principles, problems and methodology of the discipline, and two-hours exercises per week promoting the practical knowledge and applications of the subject presented in the lectures.

Student participation on seminar is monitored.