|Teaching Cycle||Winter Semester|
|Type of Examination||Written exam (120 Minutes)|
This module introduces the basic principles of financial accounting and preparation of the annual financial statement. Posting essential business transactions as well as profit and loss accounting will be explained and practised in corresponding tutorials and practice sessions.
Key learning topics are:
- Concept and functions of accounting
- Operands in accounting
- Basic legal principles
- Relationships between Inventory, balance sheet and income statement
- Basic principles of double-entry bookkeeping: account entries, organisation of accounts, booking in T-accounts
- Booking in company operating divisions (particularly: movement of goods, production, personnel, fixed assets, financial issues)
- Preparation of financial statements (accruals, depreciation, reserves, non-corporate accruals)
All information is issued for guidance and can be subject to change.
Legally binding requirements regarding examination procedures is provided for your information by the Examination Board.