Principles of accounting

2023/2024

Academic Year

ENG

Instruction in English

5

ECTS credits

Delivered at:

Department of Financial Management

Course type:

Compulsory course

When:

2 year, 2, 3 module

Instructors

Kondrakhina, Olesya

Shurchkova, Tatiana

Course Syllabus

Abstract

The course develops background for understanding and reading companies’ financial reports and for assessing company’s financial position and making managerial decisions. The course covers basic concepts of modern financial reporting, essentials in UK standard of financial and managerial accounting. It provides basic knowledge in preparing, processing and interpreting the data about business transactions for different types of external as well as internal investors, management and other accounting information users. The course requires the knowledge in micro and macroeconomics and banking. The course is a two-module course is based on lectures, seminars, case studies and self-study.

Learning Objectives

• The course is focused on developing skills in preparing and analyzing companies’ financial statements and data for decision-making purposes. By the end of autumn semester students are expected to be able to apply a set of accounting concepts to read annual financial report of a corporation and financial ratios to assess its position.

Expected Learning Outcomes

• categorise cost behaviour, and prepare and contrast inventory valuations under different costing methods
• describe the budgeting process and discuss the use of budgets in planning and control
• explain, discuss and apply relevant techniques to aid internal users in decision-making.
• explain the limitations of such statements and their analysis
• be able to apply a set of accounting concepts to read annual financial report of a corporation and financial ratios to assess its position and apply management accounting techniques for costs forecasting, projects evaluation and explanation of differences between budget and real data.
• distinguish between different uses of accounting information and relate these uses to the needs of different groups of users
• Students can make analisys of cost break down anв cost-volume-profit
• Students can use two approaches to cast PNL

Course Contents

• Introduction to The Course. The Scope of Accounting.
• Basic Accounting Elements and Accounting Equation. Double entry.
• Adjustments. Periodic measurement and identification of revenues and expenses.
• Accounting and Reporting Noncurrent Assets: Fixed Assets
• Accounting for Inventories
• Financial Reporting: BS, PnL, Statement of Changes in Equity
• The Cash Flow Statement
• Introduction to Costing
• ABC and Traditional Costing
• CVP analysis
• Marginal and Absorption costing
• Cash Budgeting
• Capital Budgeting: NPV
• Revision

Assessment Elements

• Home assignments
• Participation
• Presentation
• Exam

Interim Assessment

• 2023/2024 3rd module
  0.45 * Exam + 0.1 * Home assignments + 0.1 * Home assignments + 0.1 * Participation + 0.1 * Participation + 0.15 * Presentation

Bibliography

Recommended Core Bibliography

• Accounting : understanding and practice, Leiwy, D., 2013
• Accounting : Understanding and practice, Perks, R., 2010
• Horngren's cost accounting : a managerial emphasis, Datar, S. M., 2018

Recommended Additional Bibliography

• Cost accounting : a managerial emphasis, Horngren, C. T., 2015
• Principles of accounting : essential reading, Barone, E., 2011