Fundamentals of Accounting

Brief description

• Various types of mandatory accounting • The components and objectives of financial statements in double entry book-keeping • The structure and format of balance sheets • The structure and format of profit and loss statements • Classification of accounts • Accounting entries (affecting net income/not affecting net income) • Introductory examples of entries for transactions occurring during the year • Accounting cycle (with simple closing entries) • Sales entries (incl. output VAT) • Purchase entries (incl. input VAT) • Various methods of payment • Treatment of various expenditures • Treatment of exports and imports • Treatment of salaries and wages • Treatment of taxes

Mode of delivery

face to face

Type

compulsory

Planned learning activities and teaching methods

Lecture, discussions, knowledge tests

Assessment methods and criteria

Continuous assessment: 30 points participation in class (mini tests, homework, online quizzes), 70 points written final exam

Infos

Degree programme

European Economy & Business Management (Bachelor)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

German

Curriculum

Full-Time

Academic year

2025

Semester

1 WS

Incoming

Learning outcome

After successful completion of this course, students will be able to: • Work with the system and components of double entry book-keeping, • Enter simple transactions, such as wages, taxes, sundry expenses, etc., • Enter both sales and purchasing transactions, • Prepare simple closing entries, • And draw up balance sheet and income statement, • Explain the difference between entries affecting and not affecting net income, • And superficially analyse balance sheets and income statements The Learning outcomes contribute mainly to the following (international) programme learning outcomes: LO 3.2

Course code

0389-20-01-VZ-DE-07

Fundamentals of Accounting