Financial Records (in English)

  • Credits: 3
  • Ending: Examination
  • Range: 0P + 2C
  • Semester: summer
  • Faculty of Economic Informatics

Teachers

Included in study programs

Accounting and Auditing

Teaching results

The aim of the course is to acquire knowledge and skills necessary for keeping financial records based on IFRS.
By completing the course, students will gain:
knowledge - to define basic accounting principles and principles, to apply processes related to bookkeeping and preparation of financial statements;
skill - to keep financial records, to prepare a trial balance, to perform basic reconciliations;
competence - to identify the errors in keeping financial records and to propose a method of correction.

Indicative content

Students will learn how to produce accounting records, extract a trial balance and make necessary
adjustments to produce an extended trial balance and basic financial statements.
The syllabus covers accounting for the business transactions of sole traders and partnerships.
In addition the course will prepare students for successful passing of the FIA paper F2 – Maintaining
Financial Records, which is one of the prerequisites for obtaining the Intermediate Certificate in
Financial and Management Accounting. FIA – Foundation in Accountancy is the set of entry – level
awards developed by ACCA (Association of Chartered Certified Accountants) and it is starting
point towards the full ACCA membership and gives the university students a real competitive
advantage in the labor market.

Support literature

1 The Academy: Foundations in Accountancy (FIA), Maintaining Financial Records (FA2),
COURSE NOTES
2 Kaplan Publishing: Foundations in Accountancy (FIA), Maintaining Financial Records (FA2),
STUDY TEXT
3 Kaplan Publishing: Foundations in Accountancy (FIA), Maintaining Financial Records (FA2),
EXAM KIT

Syllabus

Recording transactions The structure of accounting records The trial balance and correction of errors Introduction to final accounts Basic framework of accounting Non-current assets Purchase ledger reconciliation and sales ledger reconciliation Bank and cash reconciliation Accruals and prepayments, Irrecoverable depts. And the receivables allowance Inventory Provisions and liabilities The extended trial balance Sole trader accounts Partnership accounts Incomplete records

Language whose command is required to complete the course

english

Date of approval: 10.02.2023

Date of the latest change: 15.12.2021