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:
- Isabel Narbón Perpiña
- Email:
- isabel.narbon@uab.cat
Use of Languages
- Principal working language:
- spanish (spa)
- Some groups entirely in English:
- Yes
- Some groups entirely in Catalan:
- Yes
- Some groups entirely in Spanish:
- Yes
Teachers
- José Javier Romero Mogorrón
- Celine Françoise Marie Gayet
- Sergio Cadena Abadias
- Maria de los Dolores Magri Majos
- Debora Celdran Gonzalez
- Pedro Escudero Fernández
- Ane Elixabete Ripoll Zarraga
- Marta Hernansaez Torras
Prerequisites
Thera are no prerequisites for this course.
Objectives and Contextualisation
Context:
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 and accounting for non-profit organizations.
Objectives:
- To familiarize students with the accounting framework, general accounting principles and accounting regulation.
- To understand the accounting cycle and book keeping of business transactions.
- To determine the profit/loss for the period and to learn how to elaborate the Balance Sheet and the Income Statement.
- To understand the economic and financial situation of the company.
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.
- Use of the available information technology and adaptation to new technological environments.
- 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.
- 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
- 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.
- Assess ethical commitment in professional activity.
- Demonstrate initiative and work independently when required.
- Demonstrate motivation regarding the quality of the work performed and sensitivity regarding the consequences on the environment and society.
- Organise work, in terms of good time management and organisation and planning.
- Use available information technology and be able to adapt to new technological settings.
Content
UNIT 1: Accounting and information systems
- Accounting concept and objectives.
- Classification of Accounting.
- The accounting framework.
- Requirements for accounting information.
- Users of accounting information.
- Accounting harmonization and regulation.
- Spanish Accounting Plan.
UNIT 2: Balance Sheet and Income Statement. The Accounting equation.
- Balance Sheet.
- The Accounting Equation.
- Economic structure and financial structure: Assets, liabilities and equity.
- Income Statement.
- Revenues and expenses.
- Analysis of business transactions.
UNIT 3: The accounting method
- The account as an accounting instrument.
- The recording process:
- Double entry bookkeeping system: debit and credit rules.
- The Journal and the Ledger.
- The Trial Balance.
UNIT 4: The Accounting cycle
- Stages in the accounting cycle.
- Opening stage.
- Development stage.
- Adjustment stage:
- Accruals and deferrals
- Adjusting changes in inventories with the periodic system
- Depreciation and amortization of fixed assets.
- Impairments.
- Closing stage. Accounting for the Income Tax.
- Preparation of the Financial Statements.
UNIT 5: Inventories
- Types of inventories.
- Permanent and periodic inventory system.
- Valuation of inventories:
- Initial recognition.
- Inventory costing methods.
- Impairment of inventories.
UNIT 6: Trade receivables and trade payables
- Recording debtors and creditors
- Value Added Tax (VAT).
- Advances. Purchase and sales returns. Purchase and sales discounts.
- Impairment of trade receivables.
- Notes receivables.
- Personnel expenses.
Methodology
- Theoretical classes: teacher’s presentations using supporting material.
- Practical classes: Exercises resolution and practical cases to reinforce and apply the theoretical knowledge, working individually or in group, always under the teacher’s direction.
- Tutorship: doubts resolution, monitoring of the assigned work.
- Autonomous student’s work: student's personal study (basic bibliography, complementary readings, information search, etc.), preparation of cases and additional exercises
The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.
Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Class sessions (practice) | 17 | 0.68 | |
| Class sessions (theory) | 32.5 | 1.3 | |
| Type: Supervised | |||
| Delivery practices | 5 | 0.2 | 1, 6 |
| Tutorial class | 4.5 | 0.18 | |
| Type: Autonomous | |||
| Autonomous work | 85 | 3.4 | 3, 4, 5, 6 |
Assessment
The evaluation will take place under the following criteria:
- Completion of exercises and case studies, class participation and attendance at seminars (10% of the final grade)
- Note: seminar on introduction to SAP will take place.
- Two theoretical midterm tests (40% of the final grade)
- Practical final exam (50% of the final grade)
Additional Information:
- To calculate the global grade for the course according to the aforementioned weights, it is necessary to get a minimum grade of 4 points in the final practical exam.
- Students who get a global grade equal to or greater than 5 points, having a minimum grade of 4 points in final practical exam grade, will pass the course.
- Students who get a global grade equal to or greater than 3.5 points and less than 5 points, or for those who obtain a global grade equal to or greater than 5 points but they obtain a grade lower than 4 points in the final practical exam, will be able to take the retake exam. Lecturers will decide the modality of this test, which will be common to all students. Students who take the retake exam and pass, will get a maximum final grade of 5 points.
- Students who obtain a global grade lower than 3.5 points will not be able to take the retake exam and must repeat the course. The final grade will correspond to the final practical exam.
- Student will be considered “No evaluable” when he or she has not participated in any of the evaluation activities.
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 evaluationactivities cannot be modified, unless thereis an exceptional and duly justified reason why an evaluation activity cannotbe carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will bescheduled 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/nou-reprogramacio-de-proves
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 final grade will correspond to the highest grade between the retakeexam and the final practical exam.
Irregularities in evaluation activities
In spite of other disciplinary measures deemed appropriate, and in accordance with current academicregulations, "in the case thatthe 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).
The proposed evaluation activities may undergo some changes according to the restrictions imposed by the health authorities on on-campus courses.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| Delivery practices | 10% | 2 | 0.08 | 1, 3, 4, 5, 6, 2 |
| Practical test | 50% | 2 | 0.08 | 1, 3, 4, 5, 6, 2 |
| Theoretical tests | 40% | 2 | 0.08 |
Bibliography
Horgren, Sundem, Elliot and Philbrick (2014). "Introduction to Financial Accounting." Pearson. (latest edition available)
Camacho-Miñano, M.; Akpinar, M.; Rivero-Menéndez, M.J.; Urquía-Grande, E.; Eskola, A. (2012): “Beyond Figures: Introduction to Financial Accounting: European Financial Accounting Manual.” Ediciones Pirámide. (latest edition available)
General Accounting Plan. Royal Decree 1514/2007 and Royal Decree 1515/2007, of 16th November 2007. www.icac.meh.es
Software
Microsoft Office.