Fundamentals of Accounting

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

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

2023

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

Course code

1389-20-01-VZ-DE-07

Fundamentals of Accounting