Bookkeeping

• Components and purposes of annual accounts in double accounting • Structure and composition of the balance sheet • Structure and composition of the income statement • Sequence of accounts (system of accounts, chart of accounts, types of accounts) • Posting records (logic, debits/credits, profit-effective/neutral) • Introductory examples of current postings and simple closing entries (depreciation, private account, cost of goods) • Bookings in the sales area (sales revenues, discounts, cash discounts, returned goods, advance payments, incl. sales tax and receivables) • Bookings in the procurement area (stock, investment purchase etc., discounts, cash discounts, returned goods, down payments, incl. VAT and liabilities) • Various payment methods (cash, on credit, ATM, credit card) • Accounting entity (with simple closing entries) • Accounting for exports and imports

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Benedict, Augustine & Elliott, Barry: Financial Accounting, An Introduction, 2nd edition, Prentice Hall

Planned learning activities and teaching methods

Lecture, discussions, case studies, student group work, assignments

Assessment methods and criteria

Continuous assessment (quality of completed work orders and presentation of results) and written examination

Prerequisites and co-requisites

None

Infos

Degree programme

Banking and Finance (engl.)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

English

Curriculum

Full-Time

Academic year

2022

Semester

1 WS

Incoming

No

Learning outcome

After successful completion of the course, the students can • name and define the systematics and the components of double-entry bookkeeping • understand and describe the basics of double-entry bookkeeping • record simple business transactions in the procurement and sales area as well as the different payment types independently • create an accounting entity (at company code level), balance sheet, and income statement from these business transactions, considering closing entries, • analyse the impact of postings on the success and balance sheet of an enterprise

Course code

1229-19-01-VZ-EN-06