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
Präsenzveranstaltung
Type
Pflichtfach
Recommended or required reading and other learning resources/tools
recommended literature Alexander/Nobes (2020): Financial Accounting – An International Introduction, 7th edition, Pearson
Planned learning activities and teaching methods
Face-to-face learning (input, discussions, written individual and group activities, short presentations of solutions in class), blended learning, support through various media (e.g. videos, Moodle quizzes), written tests in class
Assessment methods and criteria
Continuous assessment: 30 points participation in class (mini tests, homework, online quizzes), 70 points written final exam
Prerequisites and co-requisites
none
Infos
Degree programme
European Economy and Business Management (English)
Cycle
Bachelor
ECTS Credits
3.00
Language of instruction
English
Curriculum
Full-Time
Academic year
2024
Semester
1 WS
Incoming
No
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
Course code
1389-20-01-VZ-DE-07