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
1. Course title: Principles of Financial Accounting in Polish: Zasady rachunkowości finansowej
2. Course code …
Number of ECTS credits 7 Course completion method … Course commenced / Year … 3. Faculty: Finance and Insurance
4. Field of Study: Finance and Accounting
5. Department of the Field of Study Coordinator: Department of Investment
6. Name of tutor: Lectures dr hab. Andrzej Piosik, prof. UE Classes… Lab classes …
Examiner … dr hab. Andrzej Piosik, prof. UE 7. Tutor’s department Department of Accounting… 8. Number of contact hours with students:
Type of course Full time study Part time study
Lectures 25
Classes 20
Foreign language classes Lab classes Seminars Introductory Seminars Other Total hours 45 Examination (hours) 3
9. Course timeframe (no. of semesters) winter semester; summer semester… Course commencement / Year …
Course commencement / Semester …
10. Stage of tertiary education …
11. Course status
Compulsory for the field of study … Compulsory for the specialization … Optional
12. Requirements
Compulsory: - --- Recommended:
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
Provide an in-depth detailed introduction to financial accounting
Understand basic concepts and principles underlying financial statements and methods used while preparing main elements of financial statements (a statement of financial position, comprehensive income, cash-flow)
Demonstrate how financial accounting information can be used in corporate analysis and decision-making
Understand various accepted principles employed in generating financial statements with the focus on IAS/IFRS
Understand main techniques of earnings management and detecting this process 14. Teaching and learning methods:
A. Direct student/teacher contact hours:
Number of teaching hours
No. Teaching methods Description
Full time study Part time study
1. Interactive lecture Delivery of and
(critical) discussion on selected theoretical aspects of accounting. 25
2. Interactive tutorials Applying
accounting theory to solve practical problems and case studies.
20
3. …
Total AS: 45 AN:
B. Self-study hours:
Number of hours
No. Learning methods Description
Full time study Part time study
1 .
Self-study Literature study,
analysis of lecture and tutorials notes.
80 2. Solving of standard accounting tasks Solving selected numerical problems (tutors' assistance available). 45
3. Case studies Analysis and
solution of case
…
Total BS: 165 BN:
Total AS+BS = 210……. Total AN+BN = …….
Examination (E) =3 ……. Examination (E) =…….
Total AS+BS+E= …213…. Total AN+BN+E = …….
15. Key words: financial statements, statement of financial position, business transactions 16. Course content:
1. Introduction to the contemporary business environment (micro & macro level), finance and accounting.
- contemporary enterprise theories (esp. systems and stakeholder theory) - the influence of the environment on business
2. Accounting as a company’s information system. The users of accounting information. 3. Differences between financial and management accounting.
4. The underlying assumptions of accounting. Financial accounting regulations, IASB Framework, GAAPs.
- environment-based need for uniformisation and standardisation of financial accounting regulations
- true-and-fair view, accrual basis, going concern, understandability, relevance, reliability, comparability
5. Explaining the basic accounting procedures and elements of financial statements. - what are company accounts (books)?
- how do accounts work?
- 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?
6. Accounting for assets and liabilities.
- valuation, recognition and disclosure principles (under IFRS) - limitations of the balance sheet
7. 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
8. Cash versus profit. In what way is a cash-flow statement useful and how to prepare it? 9. Fundamentals of financial analysis.
- basic liquidity, profitability, leverage, activity and market value ratios
10. Is accounting information enough to evaluate a company? Discussion on the drawbacks of current accounting.
- fundamentals of corporate valuation
- what determines corporate value? (tangible and intangible factors) 11. Measuring and Reporting Assets and Capitals:
- Liquid Assets (Cash, Securities, Receivables) - Inventories (Valuation, Flow Assumptions)
- Plant, Equipment and Intangible Assets (Acquisition, Depreciation, Depletion, Impairment),
- Liabilities with Interest Imputation (Current Liabilities, Long-Term Liabilities, Interest Computation)
- Owners' Equity
12. Earnings management objectives and techniques; detecting the process of earnings management.
…..
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 FiR_W04, FiR_W05, FiR_W06
1. Understand the role of accounting as a “business language”
2. Understand elements of financial statements of a company and interpret their content and prepare a model financial statement on the basis of business
transactions. … Problem demonstrating understanding financial statements Written exam Skills FiR_U05, FiR_U06, FiR_U11
1. Perform basic book-keeping operations on the basis of business transactions and understand their influence on financial statements.
2. Conduct an analysis of financial statements and critically assess a company’s overall standing … Illustration - standard accounting tasks Written exam Social skills FiR_K04, FiR_K06, FiR_K07,
1. Critically analyse and communicate
consequences of business transactions and their impact on financial position of a reporting unit. 2. … Illustration – critical analysis of consequences of business transactions Written exam
18. Methods of grading student performance:
No. Student performance
assessment methods and course completion requirements
Description Percentage of the final grade
1. Written exam 100
2. 3.
* 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:
Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis: Financial accounting: an introduction to concepts, methods, and uses. South-Western CENGAGE Learning, 2010 Recommended reading:
Thomas Andrew., 2005. Intruduction to Financial Accounting. Fifth Ed. McGraw Hill Companies.
BRITTON, A., WATERSTON, Ch., 2006. Financial Accounting. Fourth Ed. FT Prentice Hall / Pearson Ed. Ltd.
20. Language of instruction: English
