Study programmes / C-EM Economics and Management / Financial Accounting II focusing on V4 countries
Course code:FU2
Course title in language of instruction:Finanční účetnictví II se zaměřením na země V4
Course title in Czech:Finanční účetnictví II se zaměřením na země V4
Course title in English:Financial Accounting II focusing on V4 countries
Mode of completion and number of credits:Exam (6 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/2; part-time, 16/0
(full-time, hours of lectures per week / hours of seminars per week; part-time, lectures per period / seminars per period)
Language of instruction:Czech
Level of course:master continuing
Semester:SS 2018/2019 - FBE
Name of lecturer:Dr. Ing. Jana Gláserová (supervisor)
Ing. Miloš Grásgruber, Ph.D. (instructor)
Ing. Tomáš Jaroš, Ph.D. (examiner, lecturer)
Ing. Martina Sochorcová, Ph.D. (examiner, instructor)
doc. Ing. Patrik Svoboda, Ph.D. (examiner, instructor)
Ing. Andrea Votavová, Ph.D. (examiner, instructor)
Prerequisites:Final Bachelor Exam
 
Aims of the course:The course deepens students' knowledge gained by completing the course Financial Accounting I. It follows the interpretation of the basic concepts of accounting theory, principles and methods of accounting that are used in the display of business transactions undertaken by specific economic entities in the accountancy. It includes detailed procedures for accounting of assets, liabilities and equity of the firm. Particular attention is paid to the preparation of financial statements, interpretation of accounting data and their economic significance. Business combinations and consolidated financial statements, the issue of conversion, liquidation and cancellation of companies will also be the main interest. It defines the specific accounting procedures for different types of commercial companies and cooperatives. The course is concerned with the reporting systems of V4 countries, as well. The main attention is paid to the differences between the reporting system of the Czech Republic and Slovakia, Poland and Hungary.
Course contents:
1.Valuation and accounting of stock from own production in relation to the production cycle during the accounting period and at the balance sheet date (allowance 2/2)
2.Fixed and short term financial assets (allowance 2/2)
 
a.Acquisition of equity securities and participations by the first owner
b.Debt Securities
c.Basic procedures in accounting of financial derivatives

3.Debtors and creditors -- selected issues (allowance 4/6)
 
a.Accounting of Bills of Exchange as a means of payment
b.Complaints, discounts on purchases and on provision of performance
c.Accounting of grants and selected taxes (excise duties, more complex context of accounting of VAT)
d.Clearing with other countries - imports and exports of goods and services, valuation of assets and liabilities to the balance sheet date, foreign units (premises and agencies)
e.Purchase and sale of claims, depreciation of claims and provisions to claims
f.Deferred Tax

4.Selected problems of accounting of tangible and intangible assets (allowance 2/2)
 
a.Acquisition of foreign tangible and intangible assets
b.Financial lease - specific procedures (different variants according to formulation of lease agreements, international lease, assignment and early termination of leases, technical improvement to the leased property)
c.Specific operations in case of fixed assets to the balance sheet date

5.Specifics of accounting of agricultural production (allowance 2/1)
6.Operations with company (allowance 4/4)
 
a.Purchase, sale, deposit, rental of business
b.Creation and recording of goodwill and valuation difference to the acquired assets
c.Accounting practices in transformation of business companies (mergers, division, transfer of assets to shareholders, changes in legal form of company)
d.Cancellation and termination of the company (cancellation with liquidation and without liquidation)
e.Bankruptcy of the debtor (bankruptcy, reorganization, discharge from debt)

7.Differences in the procedure of closing books in various types of companies (unlimited partnership, limited partnerships, individuals running a business) (allowance 2/2)
8.Financial statements of companies (allowance 4/3)
 
a.Completion of financial statements with detailed focus on its attachment and other components
b.Consolidated financial statements - starting points of consolidation, methods of consolidation

9.Selected issues of financial accounting and reporting in Poland (allowance 2/2)
 
a.possible form and structure of financial statements:
• balance sheet items and their definitions
• income statement items and their definitions
b.measurement of assets and liabilities
c.special issues of Polish Accounting
d.Relation between Income Tax Base and Profit or Loss

10.Selected issues of financial accounting and reporting in Slovakia (allowance 2/2)
 
a.possible form and structure of financial statements:
• balance sheet items and their definitions
• income statement items and their definitions
• income statement items and their definitions
b.measurement of assets and liabilities
c.special issues of Slovak Accounting
d.Relation between Income Tax Base and Profit or Loss

11.Cross-border tranformations of business companies (allowance 2/2)
 
a.mergers
b.divisions

Learning outcomes and competences:
Generic competences:
 
-ability to analyse and synthesize
-ability to apply knowledge
-ability to solve problems
-ability to work independently
-professional knowledge
-skilled at utilizing and processing information

Specific competences:
 
-Ability to understand financial statement items
-Skill build a specific type of financial statements
-Skill choices specific method for the preparation of consolidation financial statements
-The ability of professional orientation in the area of operations with the enterprise

Type of course unit:required
Year of study:Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement:There is no compulsory work placement in the course unit.
Recommended study modules:none
Assessment methods:The course is completed the writting examination. Written Credit contains specific examples of issues discussed subject - practical view. The examination is a total orientation studied the issue, to demonstrate whether the student mastered the material context, forming part of the subject. After passing the exam,the students (in combination with other compulsory exams concerning the accounting area) can get ACCA certificate. Successful completion of each section requires 60% of correct answers.
 
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h0 h
     practice28 h0 h
     consultation0 h16 h
Self-study
     preparation for exam62 h132 h
     preparation for regular assessment50 h0 h
     writing of seminar paper0 h20 h
Total168 h168 h

Basic reading list
  • GLÁSEROVÁ, J. Finanční účetnictví II. 1st ed. Brno: Mendelova univerzita v Brně, 2011. 155 p. ISBN 978-80-7375-487-7.
  • STROUHAL, J. Účetní závěrka. 2nd ed. Praha: Wolters Kluwer Česká republika, 2011. 304 p. Téma. ISBN 978-80-7357-692-9.
  • SALACHOVÁ, B. -- VÍTEK, B. -- GLÁSEROVÁ, J. -- OTAVOVÁ, M. Obchodní korporace a jejich přeměny (právní, účetní a daňové aspekty). 1st ed. Ostrava: KEY Publishing s.r.o., 2014. 147 p. Monografie. ISBN 978-80-7418-220-4.
Recommended reading list
  • BERÁNEK, P. Cizí měny a kursové rozdíly v podvojném účetnictví: výklad a řešené příklady. Olomouc: ANAG, 2011. 295 p. Účetnictví. ISBN 978-80-7263-681-5.
  • PRUDKÝ, P. -- LOŠŤÁK, M. Hmotný a nehmotný majetek v praxi 2012: komentář, příklady, výklady změn. 14th ed. Olomouc: ANAG, 2012. 311 p. Daně. ISBN 978-80-7263-733-1.