Accounting

obowiązkowe

obowiązkowe

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The aim of subject: presenting the essence, functions and structure of accounting system and its national and international legal restrictions. Acquiring practical skills concerning identification, recording and interpretation of basic events (commercial transactions), financial processes and their influence on the financial situation of entities operating in the international business environment. Acquiring the skill of analyzing and forecasting the financial events, drawing conclusions and making rational financial decisions.

LECTURE

Introduction to Accounting - an accounting information system, national and international legal conditions.

Balance sheet - presentation of assets and sources of its financing (capitals)

Economic operations, their documentation and impact on balance sheet resources.  

Account as a registration device. Principles of balance sheet accounts. Plan of the accounts. A trial balance.

Dividing and merging accounts. Methods for correcting accounting errors.

Revenues and costs, determination of the financial result.

Principles of preparation of the profit and loss account.

Proceeds and expenses and rules of Cash Flow Statement.

Elements of financial reporting of an economic entity.

EXERCISES

Classification of assets and sources of finance (assets and liabilities).

Balance sheet - rules for its preparation.

Business operations (trade transactions) and their impact on the balance sheet.

Accounting account - records of business transactions on the balance sheet accounts.

Dividing and merging of accounts - principles of accounting of business transactions.

Operating profit and loss account - business transaction records.

Sale of products - material and financial aspects.

Other costs and revenues - records of business transactions.

Determining the financial result in a way of accounting and its presentation in the profit and loss account.

Proceeds and expenses and rules of Cash Flow Statement.

Valuation and recording of selected assets and liabilities and their presentation in the financial statements: cash, receivables and liabilities, inventories, intangible assets, tangible assets, investments, owners' equity.

Elements of financial reporting of an economic entity.

Project - organization of accounting in a company.

International Financial Reporting Standards, SKwP, Warsaw 2014.

Elliott B., Elliott J., Financial Accounting And Reporting, Pearson, 2009.

Davies Tony, Crawford Jan. Business Accounting and Finance, Pearson Education Limited 2011.

McLaney Eddie, Atrill Peter. Accounting and Finance an Introduction, Pearson Education Limited 2016.

Sołtys Agnieszka. Accounting. University of Finance and Management in Białystok, Białystok 2009.

Stolowy H., Lebas M., Financial Accounting And Reporting A Global Perspective, Thomson, 2006.

KNOWLEDGE

01 The student possesses the knowledge concerning the essence, functions, organizational and ethical rules, national and international legal restrictions of accounting. The student is able to place the accounting system in the record system of entities operating in globalization conditions and present its relations with other economic studies.

02 The student knows the rules of wealth resources identification, its sources of financing, recording the commercial events in accounting books and preparing the balance sheet.

03 The student possess the knowledge concerning categories which determine the financial result, their recording, rules of determining the financial result and its presentation in Profit and Loss Statement.

The student possesses the knowledge concerning the identification of cash inflows and outflows and preparing the Cash Flow Statement.

The student knows rules of preparing the Statement of Changes in Equity.

SKILLS

01 The student is able to use and interpret accounting rules, also to choose proper accounting methods and tools in the analysis of financial processes.

The student is able to use existing national and international legal regulations in a field of accounting (legal acts, national and international accounting standards).

02 The student, using his or her accounting knowledge, is able to identify, record and interpret basic commercial transactions and financial processes and their influence on the financial situation of the entity.

03 The student is able to analyze the reporting information individually and working in a team. Also, he or she is able to forecast financial events and processes, make rational financial decisions in a business environment on the international market.

SOCIAL SILLS

01 The student is able to give a critical opinion concerning his or her accounting knowledge and take into consideration its importance in solving practical and theoretical accounting cases.

02 The student understands the need of fulfilling the social responsibilities, initiating actions in the interest of the society.

03 The student understands the need of acting ethically in an international business, complying the law and running the actions entrepreneurially on national and international markets.

Forms and criteria for passing the course and determining the grade (F-forming, P- summarizing)

LECTURES

F1 – none

F2 – none Summary grade: Written test.

EXERCISES (or other form of a course)

F1 written exam – a situation to solve (50%)

F2 project (40%)

F3 activity and involvement during the course (10%) Summary grade:

The weighted average of the grades resulting from F1-F3 assessment.