1 Various types of mandatory accounting (cash basis accounting, flat rate, double entry bookkeeping) 2 The components and objectives of financial statements in double entry bookkeeping. 3 The Structure and format of balance sheets 4 The Structure and format of profit and loss statements 5 Classification of accounts (standard chart of accounts, table of accounts, types of accounts) 6 Accounting records (logic, debit and credit, affecting net income/not affecting net income) 7 Introductory examples of ongoing entries and simple closing entries (depreciation, private account, cost of goods sold) 8 Accounting cycle (with simple closing entries) 9 Entries in sales (sales revenue, discounts, cash discounts, returned goods, advance payments received, incl VAT and bills outstanding) 10 Entries in purchasing (stockpiling, acquisition of equipment, etc., deduction, discounts, returned goods, advance payments, incl input tax and bills payable) 11 Entry of various methods of payment (cash, on credit, debit card, credit card) 12 Entry of various expenditures 13 Entry of exports and imports

Mode of delivery

face to face



Recommended or required reading and other learning resources/tools

Grohmann-Steiger, Schneider, Dobrovits: Einführung in die Buchhaltung im Selbststudium. Wien.

Planned learning activities and teaching methods

This integrated class is part one of the module "Financial Accounting". The course "Balancing" in the summer semester is the second part of this module Lectures, case studies, discussions

Assessment methods and criteria

Assessment in accordance with module exam regulations: 3 quizzes (2 of these used for assessment), 1 final exam (in total class makes up 34% of module)

Prerequisites and co-requisites



Degree programme

Logistics & Transport Management (Bachelor)



ECTS Credits


Language of instruction




Academic year



1 WS



Learning outcome

On completion of this course the students will be familiar with the system and components of double entry accounting. They will be able to independently enter simple transactions in both sales and purchasing, to generate an accounting cycle under consideration of closing entries and to prepare balance sheets as well as profit and loss statements.

Course code