Financial accounting I
- Credits: 6
- Ending: Examination
- Range: 2P + 2C
- Semester: summer
- Year: 2
- Faculty of Business Management
Teachers
Included in study programs
Teaching results
The main goal of the course is to teach the students to use the information from the financial
statements, understand the economic factors which could affect them and the apply the accounting
principles in the process of their preparation. The students will acquire information necessary for
their compilation. In addition, the students acquire knowledge about the structure of the financial
statements and the relation between its various parts, reflecting the requirements of the various
frameworks for accounting. Based on the financial metrics derived of the financial statements, the
students will be able to evaluate and present the financial position of the entity, assess its financial
stability a to use the acquired information for their economics decisions. Knowledge – acquire
knowledge necessary for the compilation of the financial statements; skills – to determine the related financial metrics; competence – to assess the financial stability of an entity
Indicative content
Chart of accounts in the Slovak republic; Plant, property and equipment; Intangible assets;
Inventories; Liabilities; Receivables; Expenses, income and accruals; Equity; Cash and its
equivalents, transactions and balances in foreign currency.
Support literature
1. Juhászová, Z. a kol. (2021). Účtovníctvo. Bratislava : Wolters Kluwer
2. Pakšiová, R. – Janhuba, M. (2012). Teória účtovníctva v kontexte svetového vývoja.
Bratislava : Wolters Kluwer.
3. Zákon č. 431/2002 Z. z. o účtovníctvo, v znení neskorších predpisov.
4. Zákon č. 513/1991 Z. z. Obchodný zákonník, v znení neskorších predpisov
5. Opatrenie Ministerstva financií č. 23054/2002 –92 ktorým sa ustanovujú podrobnosti
o postupoch účtovania a rámcovej účtovej osnove pre podnikateľov účtujúcich v sústave
podvojného účtovníctva v znení neskorších predpisov, v znení neskorších predpisov.
6. Opatrenie Ministerstva financií Slovenskej republiky z 3. decembra 2014 č.
MF/23377/2014-74, ktorým sa ustanovujú podrobnosti o individuálnej účtovnej závierke a
rozsahu údajov určených z individuálnej účtovnej závierky na zverejnenie pre veľké účtovné
jednotky a subjekty verejného záujmu, v znení neskorších predpisov.
Syllabus
1. Chart of accounts in the Slovak republic I Role of the chart of accounts for maintaining the accounting records. Legal statutes governing the charts of accounts and their classifications with reference to respective industries and materiality of accounting entities. Base for the construction of a chart of accounts: Dewey´s decimal system, classes and groups of accounts. 2. Chart of accounts in the Slovak republic II Scope and the content of the chart of accounts for large accounting entities in the Slovak republic, its specific classes and groups of accounts. Relations between accounts in the chart of accounts and the line items of the financial statements. 3. Plant, property and equipment I Definition of the plant, property and equipment and its classification. Its measurement and accounting for its acquisitions by way of contribution of an owner, cash purchase, purchase with a deferred payment, purchase on a credit, purchase funded by a grant, acquisition without any transferred consideration. Impact of the respective accounting treatment on the financial statements and KPI´s. 4. Plant, property and equipment II Use of the information related to the self-manufactured plant, property and equipment from the management accounting. Accounting for acquisition of self-manufactured plant, property and equipment, its depreciation, impairment allowances and its disposal. Impact of the respective accounting treatment on the financial statements and KPI´s. 5. Intangible assets Definition of intangible assets and their classifications. Its measurement and accounting for its acquisitions by way of contribution of an owner, cash purchase, purchase with a deferred payment, purchase on a credit, purchase funded by a grant, acquisition without any transferred consideration. Impact of the respective accounting treatment on the financial statements and KPI ´s. Differences in accounting for in-house research and development costs. 6. Inventories I Definition of intangible inventories and their classifications. Comparison of the underlying economics of plant, property and equipment, intangible assets, and inventories. Perpetual and periodic method for accounting for inventories: their measurement and accounting for its acquisitions by way of contribution of an owner, cash purchase, purchase with a deferred payment, purchase on a credit, purchase funded by a grant, acquisition without any transferred consideration and through by in-house production. Accounting for consumption, impairment allowances and sale of inventories. Impact of the respective accounting treatment on the financial statements and KPI´s. 7. Inventories II Use of information from the management accounting for the self-manufactured inventories. Differences in accounting for self-manufactured inventories when classification of the expenses in accordance with their nature is used as opposed to a situation, when their classification in accordance with their nature is used. 8. Liabilities I Definition of liabilities and their classification. Underlying economical substance of liabilities to suppliers, financial institutions, employees and the government. Accounting for incurrence, change and settlement of liabilities arising from purchase, provision of a credit and employee benefits. 9. Liabilities II Accounting for incurrence, change and settlement of liabilities arising from social and health insurance, grants, taxes and relations with owners. Underlying economical substance and accounting for provisions. 10. Receivables Definition of receivables and their classifications. Underlying economical substance of receivables against customers, loand and credit debtors and other parties. Accounting for the for incurrence, change and settlement of receivables arising from the sale, provision of credits and loans, impairment allowances and other events. 11. Expenses, income and accruals 12. Equity Accounting for the formation of a business in accordance with its legal form. Structure of the equity. Accounting for distributions of the equity by owners, transfers among reserves and other changes of equity. 13. Cash and its equivalents, transactions and balances in foreign currency
Requirements to complete the course
26 hours of lectures
26 hours of seminars
13 hours of preparation for the lectures
26 hours of preparation for the seminars
24 hours of preparation for the continuous written essay (40 % of the overall grading)
41 hours of preparation for the final written exam (60 % of the overall grading)
Total study load (in hours): 156
Student workload
26 hours of lectures
26 hours of seminars
13 hours of preparation for the lectures
26 hours of preparation for the seminars
24 hours of preparation for the continuous written essay (40 % of the overall grading)
41 hours of preparation for the final written exam (60 % of the overall grading)
Total study load (in hours): 156
Date of approval: 11.03.2024
Date of the latest change: 11.01.2022