fundamentals of financial accounting

Załącznik nr 2 do zarządzenia Rektora nr /12

COURSE DESCRIPTION CARD NOTE: If the course consists of lectures and classes, the Course Description applies to both forms of teaching 2. Course code … 1. Course title: FUNDAMENTALS OF FINANCIAL ACCOUNTING Number of ECTS credits 4 Course completion method … in Polish: Podstawy rachunkowości finansowej Course commenced / Year … 3. Faculty: Finance and Insurance 4. Field of Study: International Business;

Bachelor studies

5. Department of the Field of Study Coordinator: 6. Name of tutor: dr hab. Andrzej Piosik, prof. UE ; dr Anna Kuzior 15 … Lab classes … Examiner … dr hab. Andrzej Piosik, prof. UE

Lectures 15

Classes

7. Tutor’s department Department of Accounting… 8. Number of contact hours with students: Type of course Lectures Classes Foreign language classes Lab classes Seminars Introductory Seminars Other Total hours Examination (hours)

Full time study

Part time study

15 15

30 3

9. Course timeframe (no. of semesters) winter semester; summer semester… Course commencement / Year 2013/2014 Course commencement / Semester Winter …

10. Stage of tertiary education …

11. Course status Compulsory for the field of study IB Compulsory for the specialization … Optional

12. Requirements Compulsory: - -----------Recommended:

-1-

13. Course objectives: Our main aim for the PFA module is to: Show you the link between business, finance and accounting & functions of accounting for business Introduction to generally accepted financial accounting principles and methods including financial reporting and understanding these methods.

14. Teaching and learning methods: A. Direct student/teacher contact hours: No.

Teaching methods

1.

Interactive lecture

2.

Interactive tutorials

3.

Case studies

Number of teaching hours Full time study Part time study

Description

Delivery of and (critical) discussion on selected theoretical aspects of accounting. Applying accounting theory to solve practical problems and case studies.

10

Business transactions and their influence on statement of financial position and statement of comprehensive income

10

10

… Total

AS: 30

AN:

B. Self-study hours: No. 1 . 2.

3.

Learning methods Self-study

Solving of standard accounting tasks

Case studies

Number of hours Full time study Part time study

Description

Literature study, analysis of lecture and tutorials notes. Solving selected numerical problems (tutors' assistance available). Analysis and solution of case studies

40

25

25

… Total

BS: 90

Total AS+BS = 120……. Examination (E) =3 ……. Total AS+BS+E= …123….

BN:

Total AN+BN = ……. Examination (E) =……. Total AN+BN+E = ……. -2-

15. Key words: financial statements, cash-flow, business transactions 16. Course content: a). Introduction to the contemporary business environment and to accounting as a company’s information system. The users of accounting information. The underlying assumptions of accounting. Financial accounting regulations, b) introduction to financial statements: statement of financial position, statement of comprehensive income, cash-flow statement. Accounting for assets and liabilities. - valuation, recognition and disclosure principles (under IFRS) - limitations of the balance sheet - what is a statement of financial position / balance sheet? - basic format - what is a comprehensive income and its relation to income statement? - basic format - what is a cash-flow statement? c) Explaining the basic accounting procedures. - what are company accounts (books)? - how do accounts work? - recording of business transactions. d) Accounting for earnings. - profit and loss account preparation techniques - limitations of the “accrual based” profit and loss account - cost and revenue flow for manufacturers, and service providers and for merchandising - accounting and taxation e) Cash versus profit. In what way is a cash-flow statement useful and how to prepare it? f) Measuring and Reporting chosen Assets and Capitals: - Liquid Assets (Cash, Securities, Receivables) - Inventories (Valuation, Flow Assumptions) - Plant, Property and Equipment and Intangible Assets (Acquisition, Depreciation, Depletion, Impairment), - Liabilities with Interest Imputation (Current Liabilities, Long-Term Liabilities, Interest Computation) - Owners' Equity

….. 17. Student learning outcome achieved in the course, as related to the outcome intended for the field of study. Methods of outcome achievement evaluation. Student learning outcome intended for the field of study / Symbols

Student learning outcome achieved in the course

Methods of assessing student learning outcome achieved in the course

Documentation

Knowledge Written exam

IB1_W14 Student understands principles of balancing assets and liabilities and knows how to identify revenues and expired costs and cost flow in reporting entity. -3-

Problem demonstrating understanding earnings transactions and their links with statement of financial position –

illustration Skills

IB1_U02,

IB1_U08

Interprets basic book-keeping operations on the basis of business transactions and understand their influence on financial statements. 2. Conducts an analysis of regulations of financial reporting , including international regulations

Illustration standard accounting tasks

Written exam

Question/problem or illustration concerning regulations for financial reporting

Social skills

IB1_K07

IB1_K08

1. Student is prepared to participate in projects and analyses and communicates their impact on financial position of a reporting unit.

Illustration – critical analysis of consequences of business transactions

2. Student is prepared to enrich and develop competences relating to functioning of information systems …

Problem/question

Written exam

18. Methods of grading student performance: No.

1. 2. 3.

Student performance assessment methods and course completion requirements Written exam

Description

Percentage of the final grade

100

* If students are required to earn credits and pass an exam, the credit accounts for at least 30% of the final grade

19. Reading list Compulsory reading list: Elliott B., Elliott J.: Financial Accounting And Reporting. Wyd. PEARSON, 2009. Recommended reading: Wilkinson W. Accounting and information system, John Wiley & Sons Inc., New York, 1991. 20. Language of instruction: English

21. Tutors’ recommendations:

-4-