Accounting

 
 Tittle  Accounting
 Department  Accounting in the Public Sector and Service Sector
 Type (compulsory/optional)  Compulsory
 Cycle (first/second)  First Cycle
 Semester when the component is delivered  5-th semester
 Course description   This course aims to provide students with a broad understanding of business, the role of accounting in business, the analysis, recording, summarizing, and reporting of business transactions, and the use of accounting information for decision making, planning, performance measurement and control.
The objective of the course is to provide a sound understanding of how business activities are measured and communicated to users through the accounting information system. This course covers the elements of financial statements (assets, liabilities, owners’ equity, expenses, revenues), double entry bookkeeping system, accounting for financing, investing and operating activities; and the preparation of Financial Statements.
 Course content
Module 1. Accounting Theory
Topic 1. Accounting as an information system
Topic 2. Accounting Equation and its components
Topic 3. Double-Entry Accounting
Topic 4. Recording and summarizing of business transactions in accounting system
Module 2. Accounting of Assets
Topic 5. Merchandising Operations
Topic 6. Accounting for Inventory
Topic 7. Accounting for Cash and Accounts Receivable
Topic 8.  Accounting for Fixed assets and  Intangible assets
Module 3. Accounting of Liabilities and Owners Equity
Topic 9.  Accounting for liabilities
Topic 10.  Accounting for owners’ equity
Topic 11.  Accounting for expenses and revenues
Topic 12.  Financial reporting
 Learning outcomes   At the end of this course students should be able to:
- understand accounting theory and practice  
- understand the role of accounting information in business and the information needs of the internal and external users;
- understand double-entry bookkeeping
- use accounting and business terminology, and understand the nature and purpose of accounting principles;
- prepare journal entries to record business transactions;
- explain the objective of accounting and financial reporting, the elements of the financial statements, and the related key accounting assumptions and principles;
- explain the nature of assets, liabilities, owners’ equity, expenses, revenues;
- explain the valuation and reporting of assets and liabilities.
 Contact hours (lectures/seminars)

 36/18
 
Prerequisites

 There are no special prerequisites for the course. But basic knowledge of economy would be useful.
 Number of ECTS credits allocated

 4 credits