Accounting

obowiązkowe

The purpose of the course is to acquaint students with regulatory framework and accountancy rules, financial accounting systems, which is a logical, complete and compact system, describing assets , sources of their financing, business activities, company chart of accounts, valuation methods, the analysis and interpretation of particular components of assets, liabilities, incomes and costs, methods of keeping a record of fixed assets, intangible assets, materials, wares, final products, cash, money on bank account, settlements of accounts with state budget, suppliers and buyers, workers - payroll and business trips, incomes and costs, basis and reserve capitals. Lectures deal with conception, form and content of accounting reports - balance sheet, profit and loss statement and cash flow statement. The course is assigned for students on the third year on the first level. Assessment based in 30% on work in groups and in 70% on written exam contained test and tasks.]

1. Financial accounting system

Accounting in business environment. Construction of the account, classification and division of accounts, chart of accounts, trial balance sheet, basic accounting concepts and principles,

2. Expenses/costs and revenues/incomes

Definition and classification of expenses and revenues, income statement based on cost by function, income statement based on cost by nature, overall principles of profit determination (measurement of revenues and expenses)

3. Assets, liabilities and equity - bookkeeping and reporting financial issues

Definition and classification of assets, liabilities, balance sheet - general overview, overall principles of assets, liabilities and equity valuation,

4. The Accounting Act

Basic terms for the entity accounting system, policy of accounting, books of account, details of financial statement content, financial statement audit and publication,

5-6. Inventories

Definition, classification and scope of inventories, initial valuation, valuation as at the balance sheet date, the rules of measurement of inventories during an accounting period, impairment of inventories and its reversal,

7. Receivables and payables

The definition and scope of receivables and payables, initial valuation, valuation as at the balance sheet date, impairment of receivables, valuation as at the settlement (payment) date,

8-9. Tangible fixed assets

The definition, classification and scope of property, plant and equipment, initial valuation, valuation during an accounting period, depreciation - the straight line method, the accelerated method (declining balance, sum of years digits), natural depreciation method, improvement of an item of property, plant and equipment, valuation as at the balance sheet date, revaluation, impairment of property, plant and equipment

10. Intangible assets

The definition, classification and scope of intangible assets, initial valuation, valuation during an accounting period, depreciation - the straight line method,

11-12. Investments

Definition, classification and scope of investments, initial valuation, valuation as at the balance sheet date, the Accounting Act rules, the regulation of the Ministry of Finance on recognition, measurement, scope of disclosure and presentation of financial instruments,

13. Deferrals, accruals and provisions

Deffered costs, deffered income, accrued costs and provisions, current and deferred income tax,

14. Cash flow statement

Structure of cash flow statement, operating, investing and financial activities, change in cash and cash equivalents

15. Additional elements of financial statement

Statement of changes in equity, additional information, directors' report

Szczegółowe warunki uczestnictwa:

Elementary knowledge of finance and enterprises' finance is expected.

Spodziewane efekty kształcenia:

Intermediate knowledge of recording business transaction in books of account, intermediate skills of preparing a financial statements, containing balance sheet and income statement. Basic knowledge of assets and liabilities valuation as at the balance sheet date. Intermediate knowledge of tangible assets depreciation and impairment of inventory and financial investment.

Szczegółowe zasady zaliczania zajęć:

1 absence allowed; Assessment based in 30% on work in groups (finding solution of practical problems - one point per each task solved during tutorial, maximum 10 points) and in 70% on written final exam at the end of the term (one-choice test and tasks).

Required readings:

Ewa Śnieżek, Ewa Walińska, Maciej Frendzel, Joanna Stępień-Andrzejewska, Financial accounting. Key problems, examples, exercises, Centrum Controllingu i Analiz Ekonomicznych Sp. z o. o., Łódź 2007;

Polish Accounting Act;

Horngren, Harrison, Accounting, Pearson 2007, VII