Course detail
Cost and Tax Accounting
FAST-CV54Acad. year: 2014/2015
Accounting of cost kinds, finding most important cost kinds. Departmental accounting, objectives and classification of departments, accounting of internal outputs, costs kinds method, method of departmental costs transfer, cost carriers method, evidence of costs for order, mathematic method (method of equations). Internal directions relating on internal accounting. Importance of cost accounting for internal management and management accounting.
Accounting and taxation system and their mutual relations. Accounting of taxes. Accounting as source of information for tax returns. Chosen issues from act no. 588/92 Coll. about value added tax (VAT). Accounting evidence of VAT and specifics of VAT in civil engineering. Chosen issues from legal act no. 586/92 Coll. about income tax. Returns and costs in relation to tax base and accounting presentation. Transformation of income into income tax base.
Language of instruction
Czech
Number of ECTS credits
4
Mode of study
Not applicable.
Guarantor
Department
Institute of Structural Economics and Management (EKR)
Learning outcomes of the course unit
Students will broaden their knowledge of accounting and tax issues, get an overview of the settings, display and use of accounting information for internal and financial management. They will gain skills in determining transfer prices and the ability to observe costs and returns in particular types of accounting. They will acquire the ability to orientate in the current tax system of the Czech Republic and will be able to assess the impact of tax issues in the firm.
Prerequisites
Knowledge of financing, basic knowledge of tax issues (especially income tax and value added tax), knowledge of cost division from various points of view and knowledge of fundamentals of internal organisation structure.
Co-requisites
Knowledge of management of construction company and management accounting.
Planned learning activities and teaching methods
The course is taught through lectures, practical classes and self-study assignments. Attendance at lectures is optional, but attendance at classes is compulsory.
Assesment methods and criteria linked to learning outcomes
To receive a credit is under condition to demonstrate ability in solving typical accounting transactions of an economic practice the ability to apply theoretical knowledge and economic thinking. The test will consist of a written part and an oral part. Condition of the oral exam is a fulfillment of written test conditions. Limits for each grade of evaluation will be set. Total sum 100 points from written exam. The limit for oral exam aproval is 51.
Course curriculum
1. Financial accounting, internal accounting, management accounting. Exact definition of particular categories. Users of particular accounting types, quality of outputs.
2. Division of costs and returns in firm. Ability to observe costs and returns in particular types of accounting.
3. Purpose of internal accounting, generation of IA structure. Ways of IA realizations.
4. Setting of internal prices. Simple example of connection of internal and financial accounting.
5. Internal directions, their purpose and content in connection with internal accounting. Connection of internal accounting to firm’s organisation structure.
6. Connection of IA to calculations (preliminary and resulting). Purpose of this division for financial and cost management. Connection of internal and management accounting.
7. Internal bank. Connection of internal accounting and financial plans. Presumptions for foundation of internal accounting. Summary. Proposals of IA models in construction production firm.
8. Introduction. Evidence for tax purposes. Evidence system of VAT in connection with tax return.
9. Tax optimalisation in connection with VAT – domestic tax exemptions. VAT in civil engineering issues.
10. Income tax. Taxable and untaxable expenses of long-term property. Relations to employees. Travelling costs.
11. Rental costs, financial and operative leasing in connection with taxation issues. Outstanding debts. Reserves and adjusting items. Reserves law.
12. Financial costs. Other untaxable costs. Revenues liable to tax, tax-free revenues.
13. Transformation of economic output based on income tax. Summarising example.
2. Division of costs and returns in firm. Ability to observe costs and returns in particular types of accounting.
3. Purpose of internal accounting, generation of IA structure. Ways of IA realizations.
4. Setting of internal prices. Simple example of connection of internal and financial accounting.
5. Internal directions, their purpose and content in connection with internal accounting. Connection of internal accounting to firm’s organisation structure.
6. Connection of IA to calculations (preliminary and resulting). Purpose of this division for financial and cost management. Connection of internal and management accounting.
7. Internal bank. Connection of internal accounting and financial plans. Presumptions for foundation of internal accounting. Summary. Proposals of IA models in construction production firm.
8. Introduction. Evidence for tax purposes. Evidence system of VAT in connection with tax return.
9. Tax optimalisation in connection with VAT – domestic tax exemptions. VAT in civil engineering issues.
10. Income tax. Taxable and untaxable expenses of long-term property. Relations to employees. Travelling costs.
11. Rental costs, financial and operative leasing in connection with taxation issues. Outstanding debts. Reserves and adjusting items. Reserves law.
12. Financial costs. Other untaxable costs. Revenues liable to tax, tax-free revenues.
13. Transformation of economic output based on income tax. Summarising example.
Work placements
Not applicable.
Aims
To expand knowledge about accounting and taxation issues related to possibilities of tax optimalization. To offer quality inputs for internal management and financial management of construction firm.
Specification of controlled education, way of implementation and compensation for absences
Extent and forms are specified by guarantor’s regulation updated for every academic year.
Recommended optional programme components
Suitable co-operation in projects oriented in management accounting and strategic management.
Prerequisites and corequisites
Not applicable.
Basic literature
DRURY, Colin: Management & Costs Accounting. 5th Edition. London, Business Press, Thomson Learning, 2004. [ISBN 9781844807031] (EN)
FIBÍROVÁ, Jana a ŠOLJAKOVÁ, Libuše a WAGNER, Jaroslav: Nákladové účetnictví (manažerské účetnictví I). Praha: Oeconomica, 2004. ISBN 80-245-0746-3. (CS)
Král, Bohumil: Manažerské účetnictví. ASPI, 2007. ISBN 978-80-7357-299-0. (CS)
SYNEK, Miloslav: Manažerská ekonomika. Praha: Grada, 2003. ISBN 80-247-0515-x. (CS)
Účetní a daňové předpisy, zejména zák.č.563/91Sb., o účetnictví, č.586/92 Sb., o daních z příjmů, 588/92 Sb. o dani z přidané hodnoty. 0. (CS)
WÖHE, Günter a KISLINGEROVÁ, Eva: Úvod do podnikového hospodářství. Praha: C.H. Beck, 2007. ISBN 978-80-7179-897-2. (CS)
FIBÍROVÁ, Jana a ŠOLJAKOVÁ, Libuše a WAGNER, Jaroslav: Nákladové účetnictví (manažerské účetnictví I). Praha: Oeconomica, 2004. ISBN 80-245-0746-3. (CS)
Král, Bohumil: Manažerské účetnictví. ASPI, 2007. ISBN 978-80-7357-299-0. (CS)
SYNEK, Miloslav: Manažerská ekonomika. Praha: Grada, 2003. ISBN 80-247-0515-x. (CS)
Účetní a daňové předpisy, zejména zák.č.563/91Sb., o účetnictví, č.586/92 Sb., o daních z příjmů, 588/92 Sb. o dani z přidané hodnoty. 0. (CS)
WÖHE, Günter a KISLINGEROVÁ, Eva: Úvod do podnikového hospodářství. Praha: C.H. Beck, 2007. ISBN 978-80-7179-897-2. (CS)
Recommended reading
Not applicable.
Classification of course in study plans
Type of course unit
Lecture
26 hod., optionally
Teacher / Lecturer
Syllabus
1. Financial accounting, internal accounting, management accounting. Exact definition of particular categories. Users of particular accounting types, quality of outputs.
2. Division of costs and returns in firm. Ability to observe costs and returns in particular types of accounting.
3. Purpose of internal accounting, generation of IA structure. Ways of IA realizations.
4. Setting of internal prices. Simple example of connection of internal and financial accounting.
5. Internal directions, their purpose and content in connection with internal accounting. Connection of internal accounting to firm’s organisation structure.
6. Connection of IA to calculations (preliminary and resulting). Purpose of this division for financial and cost management. Connection of internal and management accounting.
7. Internal bank. Connection of internal accounting and financial plans. Presumptions for foundation of internal accounting. Summary. Proposals of IA models in construction production firm.
8. Introduction. Evidence for tax purposes. Evidence system of VAT in connection with tax return.
9. Tax optimalisation in connection with VAT – domestic tax exemptions. VAT in civil engineering issues.
10. Income tax. Taxable and untaxable expenses of long-term property. Relations to employees. Travelling costs.
11. Rental costs, financial and operative leasing in connection with taxation issues. Outstanding debts. Reserves and adjusting items. Reserves law.
12. Financial costs. Other untaxable costs. Revenues liable to tax, tax-free revenues.
13. Transformation of economic output based on income tax. Summarising example.
2. Division of costs and returns in firm. Ability to observe costs and returns in particular types of accounting.
3. Purpose of internal accounting, generation of IA structure. Ways of IA realizations.
4. Setting of internal prices. Simple example of connection of internal and financial accounting.
5. Internal directions, their purpose and content in connection with internal accounting. Connection of internal accounting to firm’s organisation structure.
6. Connection of IA to calculations (preliminary and resulting). Purpose of this division for financial and cost management. Connection of internal and management accounting.
7. Internal bank. Connection of internal accounting and financial plans. Presumptions for foundation of internal accounting. Summary. Proposals of IA models in construction production firm.
8. Introduction. Evidence for tax purposes. Evidence system of VAT in connection with tax return.
9. Tax optimalisation in connection with VAT – domestic tax exemptions. VAT in civil engineering issues.
10. Income tax. Taxable and untaxable expenses of long-term property. Relations to employees. Travelling costs.
11. Rental costs, financial and operative leasing in connection with taxation issues. Outstanding debts. Reserves and adjusting items. Reserves law.
12. Financial costs. Other untaxable costs. Revenues liable to tax, tax-free revenues.
13. Transformation of economic output based on income tax. Summarising example.
Exercise
13 hod., compulsory
Teacher / Lecturer
Syllabus
1st The structure of information provided by the users' needs in the financial accounting through financial statements.
2nd Differences in the financial and cost accounting in relation to profit.
3rd Breakdown of costs for management, decision making and planning in the company.
4th Selecting the primary focus of cost accounting. Differences in monitoring costs by place of origin and accountability in the system of double-circuit Accounting
5th -6th The example of cost accounting in the construction company for the purpose of final pricing of building order. Other applications identified information in management.
7th Credit test.
2nd Differences in the financial and cost accounting in relation to profit.
3rd Breakdown of costs for management, decision making and planning in the company.
4th Selecting the primary focus of cost accounting. Differences in monitoring costs by place of origin and accountability in the system of double-circuit Accounting
5th -6th The example of cost accounting in the construction company for the purpose of final pricing of building order. Other applications identified information in management.
7th Credit test.