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2020/2021

Advanced Financial and Company Accounting

Code: 43629 ECTS Credits: 9
Degree Type Year Semester
4315581 Advanced Accounting and Auditing OB 1 1
The proposed teaching and assessment methodology that appear in the guide may be subject to changes as a result of the restrictions to face-to-face class attendance imposed by the health authorities.

Contact

Name:
Francesc Gómez Valls
Email:
Francesc.Gomez@uab.cat

Use of Languages

Principal working language:
spanish (spa)

Teachers

Francesc Gómez Valls
Jordi Rizo Gubianas
Xavier Sentís Ros

Prerequisites

This subject is essential to know the accounting rules for the Spanish companies.  It treats of the financial information that present the companies.  The main rules of the same is to know, analyse and develop the financial information that culminates with the presentation of the annual accounts. Balance sheet, account of losses and gains, the memory and his derivative countable states (complementary), the state of changes in the clean heritage and  the state of fluxos of cash.

Objectives and Contextualisation

High level study of the  General  Spanish Accounting Plan (GSAP)  and the differences with the General  Accounting for small and medium enterprises and which companies can apply that plan.

The Study the norms of measurement  and register and his application in the different  elements of the balance sheet and account of losses and gains.

In addition will analyse the resolutions of the ICAC that develop the rules  of  presentation and preparation of financial states of all the operations:

-          Usual operations

-          Treatment of non regular operations

-          Analysis of the complex operations (financial instruments)

-          Operations of net heritage

 

Competences

  • Apply the methodology of high-level accounting processes, based on current accounting rules, to the preparation of individual and consolidated annual accounts.
  • Demonstrate understanding of the conceptual framework and the accounting regulations for trading in general, for specific sectors and for particular crisis situations in business.
  • Know the regulatory framework of accounting and auditing in Spain and how it is applied to the different types of companies.
  • Manage information efficiently, distinguishing that which is important for economic and financial decision-making.
  • Prepare financial statements and reports for taxation, accounting and financial purposes.
  • Solve problems in new or little-known situations within broader (or multidisciplinary) contexts related to the field of study.

Learning Outcomes

  1. Describe and distinguish the structure of financial statements (balance sheet, P&L account, annual report, statement of changes in equity and cash flow statement) for each model and set of rules.
  2. Describe the accounting rules associated with routine operations in the company.
  3. Describe the accounting rules of the General Accounting Plan (PGC) and the resolutions of the Spanish Institute of Accounting and Accounts Auditing (ICAC) associated with complex operations like those involving financial instruments, business combinations, etc.
  4. Describe the conceptual framework of accounting on the basis of the regulations in place in Spain.
  5. Identify the different entries, groupings and characteristics specific to each financial statement.
  6. Identify the different sets of regulations on accounting in Spain.
  7. Identify the most important information for establishing the cash flow statement in any organisation.
  8. Identify, for each business context (trading company), the key elements for determining which type of accounting regulations can be used, identifying advantages and disadvantages in each case.
  9. Manage information efficiently, distinguishing that which is important for economic and financial decision-making.
  10. Recognise and identify the particular regulations on the preparation of financial statements on the basis of existing models in current legislation.
  11. Solve problems in new or little-known situations within broader (or multidisciplinary) contexts related to the field of study.

Content

1.     THE CONCEPTUAL FRAME And THE REGULACION IN ACCOUNTING IN SPAIN From 2008 And MODIFICATIONS ENTERED IN THE RD 602/2016 AND NEW RULES FROM 2020

  •  General  Spanish Accounting Plan (GSAP)
  • RESOLUTIONS, queries and opinions  OF THE ICAC
  • Limits to adopt general Spanish accounting Plan or special plan for small companies
  • Audit exemption limits.

 

 2.     THE FINANCIAL STATES:

  • Balance sheet
  • account of losses and gains,
  • the memory and his derivative countable states (complementary), the state of changes in the clean heritage and  the state of fluxos of cash.

  

3.     NORMS OF MEASUREMENT  IN THE NEW GENERAL SPANISH ACCOUNTING PLAN

 

  • NORMS OF measument, registre And CLASSIFICATION OF THE INMOVILIZADO TECHNICAL

 -          Property plants and teams.

-          Real-estate investments

-          Leases. Measurement and register  of the operations of financial lease “Leasing”.

-          Intangible assets

-          The goodwill: rules of measurement and register..

-          Deterioration of the value of the active.

-          The active purchased with official helps. Subsides and donations

-          Special cases of acquisition and alienation property plant and equip

 

  • THE FINANCIAL INSTRUMENTS And INTRODUCCION To THE MATHEMATICAL  FOR THE ACCOUNTING 

-          The  financial instruments. Presentation and classification.

-          Norms of applicable measurement in order to the classification of the financial instruments.

-          Introduction to the NIIF 9 and his adaptation to the General  Spanish Accounting Plan from 2018.

-          Measurement and register of the active financial, passive financial and instruments of own heritage.

-          The fair value.

-          Criteria to determine the fair value.

-          Accounting requests of the application of the fair value.

-          Reasonable value via losses and gains and direct reasonable value against net heritage

-          Financial mathematics for operations of the  General Spanish Accounting  Plan.

  

  • COSTS, INCOME And RESULT OF THE PERIOD 

-          Recognition of costs and typologies..

-          Transactions in foreign currency.

-          Ordinary income. Adaptation to the IFRS 15.

-          Inventories and its assessment.

-         The measurement, register ofthe income tax on societies. The new method  (adapted to Resolution of the ICAC of 9-2-16)

  

  • OTHER NORMS 

-          Provisions of passive,   contingents and passive contingents.

-          Back facts.

  

4.     THE STATE OF CHANGES IN THE NET HERITAGE And OTHER OPERATIONS

  •  Subsides
  • Other operations (operations  linked to operations regulated in the TRLSC) 
  • The state of changes in the net heritage
  • State of income and costs recognised: structure and classification.
  • Total state of conciliation of the net heritage: operations with the partners.

 

5.     The STATE OF FLOWS OF CASH

 

-          Concept of cash.

-          Classification of the flows of cash by activities.

  1. Flows of cash of the ordinary activities
  2. Flows  of cash of the activities of  investment
  3. Flows of cash of the activities of finance

-          The direct method of preparation of the state of flows of cash

-          The indirect method of preparation of the state of flows of cash.

  

6.     DIFFERENCES BETWEEN  GENERAL SPANISH GENERAL ACCOUNTING PLAN AND THE ACCOUNTING PLAN FOR SMALL COMPANIES

7.     CASE PRACTISE GENERAL

Methodology

The educational methodology will be based in a combination of three types of activities:

- Activity directed: theoretical classes and practical classes of resolution of problems.

- Activity supervised: consistent in the realisation of  tutorial programme  and the realisation of exercises

 - Autonomous activity that divides in two parts:

* Part of study by part of the student (readings, research of information, etc).

* Autonomous activity in group devoted to the research of data and preparation of a report on the information that provides the memory of the annual accounts. Presentation and debate.

 

"The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses".

 

Activities

Title Hours ECTS Learning Outcomes
Type: Directed      
Cases and exercices 20 0.8 4, 1, 10
Theoretical sessions 45 1.8 1, 6, 8
Type: Supervised      
Tutoring and monitorin work in exercices 5 0.2 3
Tutoring and monitorin work in exercices and writting 6 0.24 3, 5
Type: Autonomous      
Exercices and writtings 56 2.24 9, 5
Study of normatives and rules 90 3.6 4, 8, 10

Assessment

 

The system of evaluation and follow-up of the student divides in 4 modalities:

- Realisation of a global exercise that will deliver to finals of December: 25%

 - Presentation of practical cases: 15% (The students will have to present works on distinct areas)

 - Active participation and assistance in class: 10%   (minimum assistance 75%)

  - Final exam 50%

  The final exam will make to finals of January once finalised the regular classes.

 Minimum note of the final proof to do average: 4 points (on 10 points)

 

Process of Recovery

 

"To participate in the process of recovery the students has to have been previously evaluated in a group of activities that represent a minimum of two third parts of the total qualification of the subject or module." Section 3 of the Article 112 ter. The recovery (Academic Rule UAB). The and the students have to have obtained a half qualification of the subject between 3,5 and 4,9. The proof of recovery will effect between 15 and 20 days after the final proof.. The student that present and surpass it will approve the subject with a note of 5. In contrary case will keep the same note.

 

Irregularities in acts of evaluation

Without prejudice to other disciplinary measures that estimate timely, and in accordance with the normative valid academician, "in case that the student make any irregularity that can drive to a significant variation of the qualification of an act of evaluation, will describe with a 0 this act of evaluation, with independence of the disciplinary process that can instruct . In case that produce diverse irregularities in the acts of evaluation of a same subject, the final qualification of this subject will be 0". Section 10 of the Article 116. Results of the evaluation. (Academic rule UAB)

 

Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Assistance and participation 10% 0 0 5
Cases and exercices 15% 0.5 0.02 1, 9, 7, 5
Final exam 50% 2.5 0.1 4, 1, 3, 2, 6, 8, 10
Writting report exposition 25 0 0 1, 6, 7, 5, 11, 10

Bibliography

BIBLIOGRAFIA BASIC

 

SPAIN. LAW 16/2007, of 4 of July published in the BOE of 5 July 2007 on reform of the mercantile legislation in countable material for his international harmonisation with base in the rule of the European Union.

INTITUTO DE CONTABILIDAD Y AUDITORIA DE CUENTAS (ICAC)

-  PGC, RD 1514/07, BOE of 20-11-07

-  PGC PIMES, RD 1515/07, BOE of 21-11-07.

- RD 602/2016 BOE 17-12-16 by which modifies the General Plan of Accounting approved by Royal decree 1514/2007, the General Plan of Accounting of Small and medium enterprises approved by Royal decree 1515/2007. ICAC, October 2015

- Resolution of the ICAC of 1-3-2013 on inmovilizado material and real-estate investments

- Resolution of the ICAC of 28-5-2013 on inmovilizado intangible

- Resolution of 28-2-16 on tax of societies.

- Resolution of ICAC  5-3-19 about corporate and financial operations

 

GOMEZ VALLS, F. And others (2017): "Exercises resolved and commented with the new PGC". ACCID 2017

 

ON-LINE RESOURCES

 

ASSOCIACIÓ CATALAN OF COMPTABILITAT I DIRECCIO (ACCID):

Http://www.accid.org

INSTITUTE OF ACCOUNTING And AUDITORIA OF ACCOUNTS

http://www.icac.meh.es/