BASICS OF ACCOUNTING

Course unit code: 344E101
Mode of completion and ECTS credits allocated: Exam (6 credits)

Objectives and learning outcomes of the course unit:
After completion of the subject the student understands the balance principle by the reporting of property and sources, double entry accounting entries and the principles and design of financial statements.

Course contents:
The course is focused on the theoretical and methodological foundations of accounting, assets and sources of funding. Principles, arrangement and design of financial statements: balance sheet, profit and loss account. Economic transactions and their classification. The system of accounts. The essence of double entry bookkeeping. Double entry accounting entries, accounting for balance sheet accounts and results. Inventory of assets and liabilities. Accounts and financial statements. Mastering the subject in question is the starting point for managing business accounting a simple accounting.