Course: Accounting I

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Course title Accounting I
Course code KFÚ/UC1
Organizational form of instruction Lecture + Lesson
Level of course Bachelor
Year of study not specified
Semester Winter
Number of ECTS credits 3
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements Course does not contain work placement
Recommended optional programme components None
Lecturer(s)
  • Brabec Zdeněk, Ing. Ph.D.
  • Malíková Olga, Ing. Ph.D.
  • Černíková Martina, Ing. Ph.D.
  • Matoušková Michaela, Ing.
Course content
Lectures (topics): 1. Accounting in the historical context - history of accounting, its milestones and future development Introduction to the current process of harmonisation and convergence of accounting systems. 2. Regulation of accounting in the Czech Republic. Generally accepted accounting principles. 3. Enterprise characteristics, internal and external flows of an enterprise. The economic resource cycle, economic and financial commentary of the cycle. 4. Objectives and content of accounting in financial and managerial accounting. Users of accounting information. 5. Accounting - assets, liabilities, and equity. Recognition and reporting of these items in the balance sheet, and balance sheet formula. 6. Expenses and revenues, losses and gains and their recognition and reporting in the income statement. 7. The process of closing the books and financial statements, its extent according to the size of the company. Cash flow statement. Financial statements and relationships between them. 8. Basic methodology of accounting. Accounting documents, books of accounts, accounting entries and evidence. Accounts and their classification. Double entry accounting and its essence. 9. The principle that of valuation in accounting and its impact on accounting information. 10. Inventory agenda - definition of inventory, principles of its valuation, and valuation techniques. 11. Inventory accounting methods - perpetual and periodic, on the fly and at the end of the accounting period. 12. Long-term assets, definition and classification of long-term assets, valuation, depreciation, accounting for acquisition and disposal of intangible and tangible assets. Seminars (topics): 1. Basic preconditions for recognizing and accepting assets and liabilities in an enterprise. 2. The economic resource cycle, and economic and financial commentary based on practical examples. 3. The economic resource cycle in accounts. 4. Balance sheet creation, and changes in balance sheet items. 5. Basic preconditions for acknowledging costs and revenues. Creation of income statements. 6. Cash flow statement methodology. 7. The relations between the balance sheet, income statement, and cash flow. 8. Methodology in accounting (types of accounts, movements in accounts). Trial balance. 9. Accounting work in the accounting period. 10. Financial statements, preparation of financial statements. 11. Initial measurement of the assets on practical examples. Application of the chosen accounting principles and their application in the balance sheet.

Learning activities and teaching methods
Monological explanation (lecture, presentation,briefing), Practicum, E-learning, Task-based study method, Students' self-study
  • Class attendance - 42 hours per semester
Learning outcomes
The aim of this course is to acquaint students with functions, object of accounting and the method of double-entry bookkeeping, with the impact on financial reporting of entrepreneurs with the structure of information, that serves their users in Czech and partly in international conditions.
Students obtain knowledge in a given course in accordance with requirements and course programmes. The obtained knowledge is important for financial management, financial analysis, bachelor and diploma thesis and practice.
Prerequisites
Students must have knowledge of problems taught in Business Administration.

Assessment methods and criteria
Student's performance analysis, Test

For successful completing a course, it is necessary to fulfil these conditions - - attendance at tutorials and successfully passing a written tests (70 %).
Recommended literature
  • České účetní standardy pro účetní jednotky, které účtují dle vyhlášky č. 500/2002 Sb. (č. 001-023). 2002.
  • Vyhláška č. 500/2002 Sb., kterou se provádějí některá ustanovení zákona č. 563/1991 Sb., o účetnictví, pro účetní jednotky, které jsou podnikateli účtujícími v soustavě podvojného účetnictví. 2002.
  • Zákon č. 563/1991 Sb., o účetnictví (v platném znění po novelách). 1991.
  • BOKŠOVÁ, J. Účetní výkazy pod lupou. Praha, 2013. ISBN 978-80-7201-921-2.
  • Hasprová, O. a Z. Brabec. Základy účetnictví podnikatelských subjektů. Liberec, 2019. ISBN 978-80-7494-490-1.
  • Chalupa, J. et al. ABECEDA účetnictví pro podnikatele 2023. Olomouc, 2023. ISBN 978-80-7554-384-4.
  • Ryneš, P. Podvojné účetnictví a účetní závěrka: Průvodce podvojným účetnictvím k 1. 1. 2023. Olomouc, 2023. ISBN 978-80-7554-379-0.
  • SKÁLOVÁ, J. a kol. Podvojné účetnictví 2023. Praha, 2023. ISBN 978-80-271-3980-4.
  • Strouhal, J. et al. Meritum Účetnictví podnikatelů 2023. Praha, 2023. ISBN 978-80-7676-641-9.
  • Šteker, K. a M. Otrusinová. Jak číst účetní výkazy. Praha, 2021. ISBN 978-80-271-3184-6.


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester