Course detail
Financial Accounting
FP-UfuPAcad. year: 2024/2025
The course Financial Accountancy familiarises students in detail with the accounting of the life cycle of fixed assets, accounting for current assets, for individual items in balance sheet liabilities, for associated and other costs and revenues, for profit and its distribution and producing financial statements. An important part of the subject is also a more detailed introduction to the issue of internal controls in accounting and auditing procedures.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Entry knowledge
Students need to know:
- methods of double-entry bookkeeping
- the accounting definition of asset items and their valuation
- about the concepts and definitions of funding sources
- about the costs, revenues and profits of the enterprise
- about the connections between the given accounting categories and how they are incorporated into the financial statements.
This means that they must have successfully completed the course Accountancy.
Rules for evaluation and completion of the course
In order to be awarded the credit is necessary to complete and succesfully (min. 50 %) produce test final test. The test is written in the 12th or 13th week of classes according to the teacher's instructions.
The examination is in form an electronic test, or in writing form.
The resulting mark for the course also includes the results of work in the seminars. In the resulting classification the weighting of the individual parts will be as follows: assigment for examination 60 %, results from seminars 40 %.
For participating in expert lectures, students receive bonus points to improve their classification. The minimum values mentioned above (20 points from the exercises and 30 points from the exam test) must be achieved in advance.
The same conditions apply to the individual study plan, only it is possible to agree on different credit and exam dates.
In case of disruption of face-to-face teaching due to quarantine and similar measures, credit tests and exams will take place under the same conditions via e-learning (Moodle + MS Teams).
Participation of students in seminars is monitored (max. 3 absencees).
Aims
- to acquire knowledge and skills in the issues of accounting for assets and liabilities of the accounting unit, costs and revenues and profit,
- to acquire knowledge and skills in cut-off entries and financial statements.
Students acquire theoretical knowledge of issues in balance sheets and results, and should know the rules for the accounting treatment of these transactions in accordance with Czech legislation.
Students gain the skills needed for accounting operations connected with the existence of all forms of property in the enterprise, its sources of financing, cost and revenue processes. They acquire skills in the specific accounting operations that provide a true and fair picture of the enterprise. They also practice producing financial statements.
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.
Study aids
Outlines of lectures and materials for exercises are published electronically in Subject Updates and Teaching Materials.
Prerequisites and corequisites
Basic literature
Dvořáková, Lenka: Nejčastější chyby a omyly účetních. Wolters Kluwer, 2019. ISBN 978-80-7552-691-5. (CS)
Mullerová, Libuše a Vladimír Králíček: Auditing pro manažery. 4. vyd., Praha: Wolters Kluwer, 2020. EAN 9788075989079. (CS)
Vyhláška č. 500/2002 Sb., kterou se provádějí některá ustanovení zákona o účetnictví. (CS)
Zákon č. 563/1991Sb., o účetnictví. (CS)
Recommended reading
Hruška, Vladimír: Účetní případy pro praxi. Grada Publishing, 2020. ISBN 978-80-271-1033-9. (CS)
Elearning
Classification of course in study plans
- Programme BAK-UAD Bachelor's 2 year of study, winter semester, compulsory
Type of course unit
Lecture
Teacher / Lecturer
Syllabus
1. Fixed assets – all methods of acquisition
2. Life cycle of fixed assets – depreciation (component depreciation, residual value), disposal by sale, by donation or through liquidation
3. Current assets – inventory: bookkeeping procedures by method B,
pricing on consumption, inventory from own production
4. Current assets – receivables: statement of claims focused on trade receivables, provisions, writing off receivables, assignment of claims
5. Balance sheet liabilities - equity
6. Balance sheet liabilities - external funding sources
7. Costs and revenues, their structure, content and accounting in accounting cost classes
8. Profit: ascertaining the profit, accounting for its distributions
9. Cut-off entries in the wider sense, cost and revenue accruals, accrued items and exchange rate differences by balance-sheet date
10. Closure of accounts, income tax (current and deferred tax)
11. Producing and verifing of financial statements and annexes, annual reports
12. Disclosure and vefification of the financial statements, basic auditors procedures
13. The digitalization of accounting work, communication of the accountant with shareholders
Exercise
Teacher / Lecturer
Syllabus
Elearning