Financial Accounting II

Syllabus

1. Non-current financial assets and individual/separate financial statements. Identification of the non-current financial assets, its major categories, measurement (including the first time and subsequent measurement) and accounting for derecognition. 2. Current financial assets Identification of the current financial assets, its major categories, measurement (including the first time and subsequent measurement) and accounting for derecognition. 3. Virtual assets Identification of the virtual assets, its major categories and its accounting treatment and measurement for accounting entities in their position of traders, miners, and in case of initial coin offerings. Derecognition of the virtual assets. 4. Modern and cutting-edge forms of payments Identification of modern and cutting-edge forms of payments. Accounting for payments with credit and debit cards (including the use of payment gateway), use of dedicated services of third parties (e. g. Paypal), use of factoring and cash pooling. 5. Biological assets and agricultural production Identification and accounting treatment of the agricultural activities, biological assets, and agricultural production. 6. Specific of accounting for services Specific transactions and conditions related to services and illustration of their accounting treatment in case of travel agencies. 7. Accruals Accrual principle, example of its use and impact of its nonapplication in various types of accounting entities. 8. Accounting for a lease from the point of view of lessor Identification of a lease contract, its commercial substance and accounting for by a lessor. 9. Accounting for a lease from the point of view of leasee Commercial substance and accounting for by and accounting for by a leasee. 10. Use of the trial balance and preparation of the balance sheet. Trial balance and its application. Content and the preparation of the balance sheet in both the vertical and horizontal form and interpretation of the presented data. 11. Preparation of the income statement and the statement of changes in equity Content and the compilation of the income statement using the classification of the operating expenses in accordance with their function and nature and interpretation of its data. Expenses and income and gains and losses. Content and the preparation of the statement of changes in equity. 12. Indirect method of preparation of the cash flow statement Content of the cash flow statements. Relations between the cash flow and income statements and indirect method of preparation of the cash flow statement. 13. Direct method of preparation of the cash-flow statements and the compilation of the notes to financial statements Direct method of preparation of the cash-flow statements and the interpretation of its information. Compilation of the notes to financial statements including its general provisions, presentation of the accounting policies and schedules changes of major items of assets and liabilities.