Course description

SUMMARY OF THE CONTENTS OF THE COURSE

______________Financial Accounting____________

(title of the course)

Normative

(regulatory / selective)

Specialization: Accounting, Analysis and Audit

(cycle of disciplines in the curriculum)

Subject of the course

Financial and economic activity of enterprises, which characterizes its financial position and financial position.

The purpose of the course

To teach students how to display business transactions in accordance with the approved national accounting standards and international financial reporting standards, to be able to apply the acquired theoretical knowledge, skills and practical skills.

The main tasks

Provide students with the necessary theoretical knowledge and practical skills in the organization of financial, assets, capital, liabilities, expenses, income, and financial performance using a progressive form and national standards.

The place of the discipline in the structural and logical scheme of preparation of bachelors

The study of the discipline forms a knowledge base and is interrelated with such disciplines as: enterprise economics, microeconomics, finance, business analysis, accounting (general theory), accounting in economic sectors, auditing, tax systems, financial activity of business entities and others.

Requirements for competences, knowledge and skills

As a result of studying the discipline, the student should be formed the following competencies:

common:

the ability to act socially responsible and consciously;
the ability to conduct research at an appropriate level;
the ability to learn and master modern knowledge;
ability for abstract thinking, analysis and synthesis;
ability to work as a team or autonomously;
the ability to be critical and self-critical;
knowledge and understanding of the subject area and understanding of professional activity, etc.

special:

demonstrate an understanding of the requirements for professional activity caused by the need to ensure the sustainable development of Ukraine, its strengthening as a democratic, social, rule of law;
identify and evaluate risks of failure to achieve an entity’s management goals, non-compliance with legislation and regulation of activities, unreliable reporting, retention and use of its resources.

Studying the discipline “Financial Accounting” involves achieving such a qualification level of training for a specialist, for which he must:

know:

the role, place and importance of financial accounting in the management of an enterprise;
place and importance of the accounting system in providing information users of accounting and analytical information in solving problems in the field of social, economic and environmental responsibility of enterprises;
structure of assets and liabilities of the enterprise;
the procedure for conducting transactions with cash;
the reasons for the occurrence of receivables and the procedure for their repayment;
the procedure of formation and accounting of equity;
the method of recording in the accounting of obligations for payments to suppliers, banks, employees, budget, according to the ESA;
structure of income and expenses of the enterprise by types of activity;
the method of determining the financial results of the enterprise;
method of accounting for current and non-current assets;
structure of production costs and accounting of operations for the formation of cost of production (works, services).

be able to:

determine the essence of financial accounting objects and understand their role and place in business activities;
to have a methodological toolkit for accounting of business activity of enterprises;
to study and acquire modern knowledge of the discipline;
perform professional functions in accordance with the requirements of social responsibility, discipline, be able to plan and manage time;
to use the acquired theoretical knowledge in practical activity;
solve production situations for the acquisition and sale of assets;
keep records of transactions related to attracting financial investments;
to record in the accounting operations for the formation and change of the registered capital;
keep records of operations on the obligations of the enterprise;
calculate vacation pay, compensation for unused vacation, temporary disability benefits, and payroll.
to work independently as well as in a team, to show leadership qualities and responsibility in work, to observe ethical principles, to respect individual and cultural diversity;
analyze the development of systems, models and methods of accounting at national and international levels in order to substantiate the feasibility of their introduction in the enterprise.

Content of the discipline by topic

Topic 1. Financial accounting as a science and its organization
Topic 2. Accounting for tangible and intangible assets
Topic 3. Accounting for stocks
Topic 4. Cash accounting
Topic 5. Accounting for financial investments
Topic 6. Accounts Receivable
Topic 7. Accounting for Equity
Topic 8. Liability accounting
Topic 9. Accounting for liabilities
Topic 10. Accounting for lease transactions
Topic 11. Accounting for Payroll
Topic 12. Accounting for enterprise ESV calculations
Topic 13. Accounting for the costs of the enterprise
Topic 14. Accounting for income and financial results of the enterprise