Accounting for Enterpreneurs
FP-BAENEAcad. year: 2018/2019
In the course, students are introduced to the general characteristics of accounting and its methodological tools, and accounting legislation. The great emphasis is put on the content of the financial statements.
Learning outcomes of the course unit
After completing the course students are able to carry out routine accounting operations in a company, propose solutions for specific accounting operations and produce financial statements.
Recommended optional programme components
LERNER, J. M. Bookkeeping and Accounting. Crash course. Schaumś easy outlines. (EN)
MALBURG, C. R. Accounting for the New Business. Adams Media Corporation Avon, Massachutsetts. ISBN: 1-55850-759-0 (EN)
Accounting standards codification. (2014). Norwalk: Financial Acctg Standards. (EN)
Act No. 563/1991 Coll. on Accountancy (EN)
Hans B. Christensen, Edward Lee, Martin Walker & Cheng Zeng (2015) Incentives or Standards: What Determines Accounting Quality Changes around IFRS Adoption?, European Accounting Review, 24:1, 31-61, DOI: 10.1080/09638180.2015.1009144 (EN)
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
Individual written test at the end of the semester (60 %)
Sum of the points will be the base for final marking (ECTS label for BTU).
Language of instruction
A) Introduction to Financial Accounting for Enterprenaeurs. Functions of accounting, characteristic features and legal aspects of accounting. General accounting principles. Assets and liabilities, their structure and definition, assets and liabilities classes, their mutual relations. Balance sheet system, impact of economic transactions on balance sheet. Costs and revenues of accounting unit as part of profit and loss statement.
B) Accounting cycle. Methodical parts of accounting, chart of accounts, accounting documents, books and control system. Financial accounts, their structure and importance, cash, cash in transit, bank accounts. Inventory, its definition and inventory valuation method. Classification of long-term assets, basic procedures of of assets acquisition. Procedures of accounting of receivables and liabilities of accounting unit (from business relations, to employees and to shareholders). Basic accounting techniques of costs and revenue. Equity and borrowed capital of accounting unit.
C) Other key elements of financial statements – Statements of Cash Flows, Statement of Changes in Equity. Commentary and annual reports. Harmonization of accounting across the world.
Specification of controlled education, way of implementation and compensation for absences
Type of course unit
Teacher / Lecturer