The aim of the subject to navigate the students confidently in the language of business life. To be familiar to its set of concepts, within this to adapt in a practice-oriented manner to the Accounting system. Based on the study system of basic concepts and connections related to accounting and bookkeeping, to master the theoretical and methodological foundations and procedures related to the accounting of economic events related to the property, financial and income situation of business organizations.

Lectures

1. The benefits of accounting knowledge, presentation of accounting specialties. 2. Balance sheet: a snapshot of the financial situation. The principle of balance sheet reconciliation. Classification of assets. libailities and Owner's Equity 3. Effect of asset changes on the balance sheet. The effect of economic events on the result. The accounting system for value added tax in accounting. 4. Valuation methods 5. Revenue, income, expense, cost categories 6. The income statement, income categories 7. Recording economic transactions in accounting. Accounting methodology – introduction to double-entry bookkeeping. Bookkeeping on asset and liability accounts. 8. Accounting and valuation of tangible assets, depreciation calculation methods. 9. The concept, groups, accounting methods of inventory. Valuation of inventories: FIFO, LIFO, average price. 10. Types of liabilities. Payroll. 11. Main groups of receivables. Accounts receivable and other receivables 12. Full accounting cycle – business year – processes. Opening of accounting records, data recording and closing entries. 13. Use of accounting data. Introduction to the analysis of the financial report.

Seminars

1. The accounting workflow. 2. Classification of assets, preparation of a balance sheet. 3. Basic economic transactions. Value added tax in accounting. 4. Valuation of long term and current assets. 5. Revenue, income, expense, cost categories by transactions. 6. Preparing income statement, income categories calculations 7. Recording economic transactions in accounting. Double-entry bookkeeping practice. Bookkeeping on debit and credit accounts. 8. Accounting and valuation of tangible assets, depreciation calculation methods. 9. Accounting methods of inventory. Practice FIFO, LIFO, average price valuation system. Gross profit calculation. 10. Types of liabilities. Payroll calculation and journal entries. 11. Accounts receivable and other receivables journal entry. 12. Opening of accounting ledger accounts, data recording and closing entries on ledger accounts. 13. Ratio and trend analysis of financial reports.

The course material are on the e-learning system.