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2019/2020

Introduction to Accounting

Code: 102366 ECTS Credits: 6
Degree Type Year Semester
2501572 Business Administration and Management OB 1 2
2501573 Economics OB 1 2

Contact

Name:
Carmen Pilar Marti Ballester
Email:
CarmenPilar.Marti@uab.cat

Use of Languages

Principal working language:
catalan (cat)
Some groups entirely in English:
Yes
Some groups entirely in Catalan:
Yes
Some groups entirely in Spanish:
Yes

Prerequisites

Thera are no prerequisites for this course.

Objectives and Contextualisation

This is a first year of "Introduction to Accounting". This course establishes the foundation for other specific accounting subjects such as accountancy of companies, financial statement analysis, public accounting, accounting for cooperative organizations or for non-profit organizations.

The main aims of this first course are:

  1. To familiarize students with the accounting framework, general accounting principles and accounting regulation

  2. To understand what are the main accounting elements: assets, liabilities, income, expense and equity

  3. To familiarize them with the annual accounts, the balance sheet and the income statement

  4. To understand the accounting cycle and learn how to both start it and close it at the end of the year

  5. To learn how to elaborate the balance sheet and the income statement 

Competences

    Business Administration and Management
  • Capacity for oral and written communication in Catalan, Spanish and English, which enables synthesis and oral and written presentation of the work carried out.
  • Demonstrate initiative and work individually when the situation requires it.
  • Organise the work in terms of good time management, organisation and planning.
  • Show motivation for carrying out quality work and sensitivity to the consequences for the environment and society.
  • Use of the available information technology and adaptation to new technological environments.
  • Value ethical commitment in professional practice.
    Economics
  • Apply theoretical knowledge of finances to improve relations with sources of financing, identifying the different forms of financing and the advantages and disadvantages for the company and the providers.
  • Demonstrate initiative and work individually when the situation requires it.
  • Generate and transmit the information necessary for taking decisions at company headquarters level.
  • Identify improvements in the internal management process to stimulate company productivity.
  • Organise the work in terms of good time management, organisation and planning.
  • Select and generate the information necessary for each problem, analyse it and take decisions based on that information.
  • Show motivation for carrying out quality work and sensitivity to the consequences for the environment and society.
  • Use of the available information technology and adaptation to new technological environments.
  • Value ethical commitment in professional practice.

Learning Outcomes

  1. A capacity of oral and written communication in Catalan, Spanish and English, which allows them to summarise and present the work conducted both orally and in writing.
  2. Apply the accounting principles of the general plan in force.
  3. Assess ethical commitment in professional activity.
  4. Assess the usefulness of compatibility for potential users.
  5. Demonstrate ethical behaviour in the preparation of financial statements.
  6. Demonstrate initiative and work independently when required.
  7. Demonstrate motivation regarding the quality of the work performed and sensitivity regarding the consequences on the environment and society.
  8. Identify economic transactions and the flows involved, in accordance with the norms of the general accounting plan.
  9. Organise work, in terms of good time management and organisation and planning.
  10. Prepare annual accounts.
  11. Summarise the accounting information and present it in the form of annual accounts.
  12. Use available information technology and be able to adapt to new technological settings.
  13. Use new technologies such as WebQuest and wikis.

Content

Topic 1: Accounting and information systems

  • Accounting Concept. 

  • Users of Accounting Information. 

  • Classification of Accounting. 

  • Stages in the Accounting Cycle. 

  • The Financial Statements. 

  • Limitation of Accounting Data. 

  • Requirements for Accounting Information.


Topic 2: The Accounting Equation 


  • The Accounting Equation. 

  • The Balance Sheet. 

  • The Profit and Loss Account. 

  • The Statement of Retained Earnings. 

  • The Statement of Cash Flows. 

  • Analysis of Business Transactions. 


Topic 3: The Recording Process

  • The Account as an Accounting Instrument. 

  • Classification of Accounts. 

  • The Recording Process. 

  • The Journal and the Ledger. 

  • Journal Entries.


Topic 4: The Accounting Cycle 


  • Accounting Principles. 

  • The Accounting Cycle. 

    • Opening Stage.

    • Development Stage. 

    • Adjustment Stage (Deferrals, Accruals, Depreciation).
    • Closing Stage.

Topic 5: Inventories

  • Types of Inventories. 

  • Inventory Costing Methods. 

  • Accounting for Inventories.
    • Permanent and Periodic Inventory System.
      • Purchases and Sales. 

      • Purchase and Sales Returns.

      • Purchase and Sales Allowances.

      • Quantity Discounts.

      • Discounts for Prompt Payments.
      • Cost of Goods Sold.

      • Gross Margin (also: Gross Profit). 


Topic 6: Accounting for Basic Transactions 


  • Advances. 

  • Accounts Receivable. 

    • Accounting for Notes Receivable. 

    • Doubtful Customers. 

  • Long-Term Liabilities. 

  • Expenses for Personnel. 

  • Noncurrent Assets and Depreciation. 

  • Selling an Asset. 

  • Impairment. 

  • Inventory Shrinkage. 


 

Methodology

To achieve the objectives of the course, the following taxonomy of activities will be used: 


1.  Theory classes where teachers develop the main concepts (30 hours) 


The objective of this activity is to present the fundamental concepts of the course and to facilitate their learning through the analysis of examples illustrating the main issues of the different topics analysed. 


2.    Exercises sessions devoted to the resolution of practical exercises (20 hours) 


This activity aims to discuss and answer any questions that students may have in solving the problem sets, and at the same time to correct mistakes. These sessions will 
also stimulate the participation of students presenting the solutions of the problem sets either orally or in written form.

3.   Tutorial attendance (5 hours)

Students have several hours where the teachers of the course may help them to resolve any doubts that may arise in the study of the course and in the solution of the problem sets.

4.    Autonomous working (90 hours)

Students work on their own studying the main concepts and solving the exercises proposed in the class. 

Activities

Title Hours ECTS Learning Outcomes
Type: Directed      
Class sessions (practice) 10.5 0.42 2, 5, 10, 8, 11
Class sessions (theory) 33 1.32 8
Type: Supervised      
Delivery practices 5.5 0.22 1, 12
Tutorial class 5 0.2
Type: Autonomous      
Autonomous work 90 3.6 6, 7, 9, 12

Assessment

The evaluation will take place under the following criteria:

a)  10% of the final mark will correspond to class participation;

b)  45% of the final mark will correspond to the mean of two individual theoretical tests that will take place along the course;

c)  45% of the final mark will correspond to an individual practical exam that will take place at the end of the course. 

For those student who have obtained a grade lower than 3.5 in both theoretical (on average) and practical parts, they won’t pass the subject. For those students who have obtained during the evaluation a grade equal to or greater than 3,5 and less than 5, or for those who have obtained a grade equal to or greater than 5 but they have obtained a grade lower than 3,5 in theoretical exams (on average) or in practical exam they will be able to take (theoretical, practical or both) referral exams. The date of referral exam will be scheduled in Faculty´s calendar. The mark for the student taking both theoretical and practical referral exams wil be qualitative and will only have two possible options: pass or fail. If the student is considered to pass the course, the maximum numerical grade will be equals of 5. If the student receives a grade of fail the course, the final mark will be the same mark obtained before the referral exam. The mark for the student taking either theoretical referral exam or practical referral exam will substitute for the fail mark (if it is equals or greater than the fail mark). If the student receives a grade of fail the referral exam, the final mark will be the same mark obtained before the referral exam.

A student can only get a "NOT GRADABLE" in the course as long as he or she has not participated in any of the evaluation activities. 

Students must bring a blue or black pen to class for taking the exams. 

 Assessment calendar:

 

Exam Data
First theoretical exam (provisonal) March 26th, 2020
Second theoretical exam (provisional) May 26th, 2020
Practical exam (provisional) June 22nd, 2020
Re-evaluation (provisional) July 3rd, 2020

 

Calendar of evaluation activities

The dates of the evaluation activities (midterm exams, exercises in the classroom, assignments, ...) will be announced well in advance during the semester.

The date of the final exam is scheduled in the assessment calendar of the Faculty.

"The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 115. Calendar of evaluation activities (Academic Regulations UAB). Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule https://eformularis.uab.cat/group/deganat_feie/application-for-exams-reschedule

 

Grade revision process

After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, date and time of grade revision following University regulations.

 

Retake Process

"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 3 of Article 112 ter. The recovery (UAB Academic Regulations). Additionally, it is required that the student to have achieved an average grade of the subject between 3.5 and 4.9.

The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course.

 

Irregularities in evaluation activities

In spite of other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation of the same subject, the final grade of this subject will be 0". Section 10 of Article 116. Results of the evaluation. (UAB Academic Regulations).

For any question related to this subject you can contact degree coordinators:

Carlota Menéndez Plans (Carlota.Menendez@uab.cat) Business Management degree and Business Management and Law degree Coordinator 

Valeri Sorolla Amat (Valeri.Sorolla@uab.cat) Economics degree Coordinator

 

 

Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Delivery practices 10% 2 0.08 1, 6, 7, 9, 12, 3
Multiple choice tests 45% 2 0.08 2, 8, 4
practical test 45% 2 0.08 1, 6, 5, 10, 7, 9, 11, 12, 13, 3

Bibliography

2009. Horgren, Sundem, Elliot and Philbrick.. Introduction to Financial Accounting. McGraw-Hill.