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Lecturer(s)
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Honková Irena, Ing. Ph.D.
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Course content
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Aims of financial accounting and its harmonisation. IASB framework for financial statements. Accounting principles and its application with the accent put on evaluation. Inventories. Long-term tangible assets. Intangible assets. Financial instruments - selected issues. Equity and selected aspects of its record. Liabilities, provisions and contingent liabilities. Income, expense, profit or loss. Operating segments. Leases. Interim financial reporting. Consolidated statements.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Methods of individual activities, Skills training
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Learning outcomes
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The aims of subject Financial Accounting are a presentation of accounting at contemporary standard its development. It connects on the subject Grounding of Accounting. The attention is given the International Accounting Standards, the fundamental principles of accounting, presentation (creation) of true and fair view about an accounting unit. It is abstracted the valid national regulation extensively.
Students will be able to use theoretical knowledge in the sphere of accounting as well as in all related spheres, furthermore, they will be able to compare the Czech accounting system with IAS/IFRS, know how to select appropriate methods in order to solve single accounting transactions, present its impact on specialists and laics and defend its solutions with adequate arguments.
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Prerequisites
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The course assumes basic knowledge of double entry bookkeeping at the undergraduate level, including the framework knowledge of Czech accounting legislation. The advantage is the knowledge of Czech commercial law at undergraduate level of economic fields of study.
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Assessment methods and criteria
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Oral examination, Written examination, Student performance assessment, Discussion
The assignment is granted upon completion of the following conditions: attendance at seminars, passing the written test (it examines the ability to solve selected problems of double-entry accounting and to determine its practical impact on statement of balance). The examination is usually oral. It examines the ability to interpret selected accounting transactions in contexture as well as the ability to discuss financial accounting at professional level.
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Recommended literature
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http://europa.eu.int/com.
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Journal of Accounting.
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CIMA. Management Accounting. Official Terminology. London, 2000.
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IASB. International Financial Reporting Standards.. London, 2006. ISBN 80-239-7171-9.
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