Accounting

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Lecturer:

Tutor:

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Department of Management and Economics

Synopsis:

The objective of the subject is to become acquainted with the significance of accounting for enterprise management, with the content and formal structure and realization of the stages and changes of the economic results during the accounting period; further with accounting as a system needful for tax declaration and not least as a resource to financial analysis. The stress is laid on understanding the dichotomy as the basis of the double entry accounting system, which distinguishes the terms assets (in the long term and short term) and liabilities (share-holders? equity, liabilities). Of great importance is the assessing of assets and their parts. Ac-counting relates to other information subsystems as budgeting, cost accounting, short term and long term planning. There are further some other subjects concerning enterprise manage-ment, connected with accounting, especially in the field of financial management. Accounting is one of the fundamental instrument of a business manager who understands the content and structure of the balance sheet, profit and loss account and the cash/flow statement. It is very possible that some of the students will exploit the knowledge of accounting in their future occupation as managers, financial directors, in consulting firms and auditing companies.

Requirements:

Active participation in exercises, preparing and presentation topics, submission of term (semester) work in time and mistake-free.

Syllabus of lectures:

Introduction into accounting, information flows and their classification. Double entry accoun-ting and its principles, the profit equation expressing the state of equity, account balance and flow values, derivation of the balance sheet. Balance sheet transactions, balance sheet decom-position into accounts, elements of the accounting system, accounting principles. Organizati-on of the accounting system, types of accountant books journal, general ledger, auxiliary led-ger, chronological and systematic entries, control and subsidiary accounts. Accounting proce-dures, trial balance, cost calculation as a part of the accounting system. Profit and loss ac-count, its genesis, expenses and revenues, positive and negative cash-flows. Two balances accounting theory (balance sheet + profit and loss account) with a dual and single circuit. The three balances accounting theory, cash flow, opening and closing of accounts. Measuring and reporting inventories, classification of inventories. Assets, plant and equipment, tangible and intangible assets, nature of plant assets. Decrease of long-life assets, depreciations seen as a decrease of assets value, depreciations calculation, effective decrease of assets. Wages and salaries and other expenses and taxes. Accrued assets and liabilities. Harmonization of ac-countancy, expectations and objectives. Conceptual scope of international accounting stan-dards. Consolidated financial statement - objectives. Balance analysis and indicators in ba-lance analysis.

1.Introduction into accounting, information flows and their classification

2.Double entry accounting and its principles, the profit equation expressing the state of equity, account balance and flow values,

3.derivation of the balance sheet. Balance sheet transactions, balance sheet decomposition into accounts, elements of the accounting system

4.accounting principles. Organization of the accounting system,

5.of accountant books journal, general ledger, auxiliary ledger, chronological and systematic entries, control and subsidiary accounts

6.Accounting procedures, trial balance, cost calculation as a part of the accounting system

7.Profit and loss account, its genesis, expenses and revenues, positive and negative cash-flows. Two balances accounting theory (balance sheet + profit and loss account) with a dual and single circuit. The three balances accounting theory, cash flow, opening and closing of accounts.

8.Measuring and reporting inventories, classification of inventories.

9.Assets, plant and equipment, tangible and intangible assets, nature of plant assets

10.Decrease of long-life assets, depreciations seen as a decrease of assets value, depreciations calculation, effective decrease of assets

11.Wages and salaries and other expenses and taxes.

12.Accrued assets and liabilities. Harmonization of accountancy, expectations and objectives. Conceptual scope of international accounting standards.

13.Consolidated financial statement - objectives. Balance analysis and indicators in balance analysis

Syllabus of tutorials:

1.Introduction into accounting, information flows and their classification

2.Double entry accounting and its principles, the profit equation expressing the state of equity, account balance and flow values

3.Derivation of the balance sheet. Balance sheet transactions, balance sheet decomposition into accounts, elements of the accounting system

4.Accounting principles.

5.Organization of the accounting system.

6.Accounting procedures, trial balance, cost calculation as a part of the accounting system

7.Profit and loss account, its genesis, expenses and revenues, positive and negative cash-flows. Two balances accounting theory (balance sheet + profit and loss account) with a dual and single circuit. The three balances accounting theory, cash flow, opening and closing of accounts.

8.Measuring and reporting inventories, classification of inventories.

9.Assets, plant and equipment, tangible and intangible assets, nature of plant assets

10.Decrease of long-life assets, depreciations seen as a decrease of assets value, depreciations calculation, effective decrease of assets

11.Wages and salaries and other expenses and taxes.

12.Accrued assets and liabilities. Harmonization of accountancy, expectations and objectives. Conceptual scope of international accounting standards.

13.Consolidated financial statement - objectives. Balance analysis and indicators in balance analysis

Study Objective:

The objective of the subject is to become acquainted with the significance of accounting for enterprise management, with the content and formal structure and realization of the stages and changes of the economic results during the accounting period; further with accounting as a system needful for tax declaration and not least as a resource to financial analysis. The stress is laid on understanding the dichotomy as the basis of the double entry accounting system, which distinguishes the terms assets (in the long term and short term) and liabilities (share-holders? equity, liabilities). Of great importance is the assessing of assets and their parts. Ac-counting relates to other information subsystems as budgeting, cost accounting, short term and long term planning. There are further some other subjects concerning enterprise manage-ment, connected with accounting, especially in the field of financial management. Accounting is one of the fundamental instrument of a business manager who und, erstands the content and structure of the balance sheet, profit and loss account and the cash/flow statement. It is very possible that some of the students will exploit the knowledge of accounting in their future occupation as managers, financial directors, in consulting firms and auditing companies.

Study materials:

Kovanicová, D. - Kovanic, P: Poklady skryté v účetnictví I, II, III, Polygon, 1997, Kovanicová, D. a kol.: Finanční účetnictví, světový koncept, Polygon2003Macík, K.: Účet-nictví, Vydavatelství ČVUT 2003, Praha, Macík, K.: Účetnictví pro manažerskou praxi, Grada Publishing 2000, Praha, Vysušil, J.: Podvojné účetnictví po lžičkách, Profess 1993, Praha

Note:

Further information:

No time-table has been prepared for this course

The course is a part of the following study plans: