Fundamentals of Accounting

Brief description

  • Various types of mandatory accounting
  • The components and objectives of financial statements in double entry book-keeping
  • The structure and format of balance sheets
  • The structure and format of profit and loss statements
  • Classification of accounts
  • Accounting entries (affecting net income/not affecting net income)
  • Introductory examples of entries for transactions occurring during the year
  • Accounting cycle (with simple closing entries)
  • Sales entries (incl. output VAT)
  • Purchase entries (incl. input VAT)
  • Various methods of payment
  • Treatment of various expenditures
  • Treatment of exports and imports
  • Treatment of salaries and wages
  • Treatment of taxes

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Schneider/Dobrovits/Schneider: Einführung in die Buchhaltung im Selbststudium, Band I and II (BEWU)
BEWE:
recommended literature „Benedict/Elliott (2011): Financial Accounting – An Introduction“, 2nd edition, Prentice Hall

Planned learning activities and teaching methods

Lecture, discussions, knowledge tests

Assessment methods and criteria

Continuous assessment: 30 points participation in class (mini tests, homework, online quizzes), 70 points written final exam

Infos

Degree programme

European Economy & Business Management (Bachelor)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

German

Curriculum

Full-Time

Academic year

2023

Semester

1 WS

Incoming

No

Learning outcome

After successful completion of this course, students will be able to:

  • Work with the system and components of double entry book-keeping,
  • Enter simple transactions, such as wages, taxes, sundry expenses, etc.,
  • Enter both sales and purchasing transactions,
  • Prepare simple closing entries,
  • And draw up balance sheet and income statement,
  • Explain the difference between entries affecting and not affecting net income,
  • And superficially analyse balance sheets and income statements
The Learning outcomes contribute mainly to the following (international) programme learning outcomes:
LO 3.2

Course code

0389-20-01-VZ-DE-07