Financial Accounting (ILV)Back
Mag. Dr.Alexander Herbst
|Semester of degree program||Semester 1|
|Mode of delivery||Presencecourse|
|Language of instruction||English|
On successful completion of the course, students:
- Understand the importance of bookkeeping and accounting in the context of corporate management.
- Understand the legal framework and the underlying intentions (tax law/commercial law).
- Can explain and apply the double-entry accounting system.
- Are proficient in the most important current entries and closing entries.
- Are able to correctly assess valuation issues in the context of the annual financial statements.
- Are able to prepare a simple annual financial statement.
- Can apply the theoretically taught contents by means of an accounting software practically
The course will cover the following topics/content:
- Fundamentals of financial accounting I (the accounting scene; the regulatory framework of accounting; the framework of financial statements)
- Fundamentals of financial accounting II (double entry bookkeeping; from trail balance to financial statements)
- Case work
- Reporting of non-current assets (property, plant & equipment; financial assets; leases, cost versus revaluation model; impairment test)
- Reporting of current assets I (inventory of retail and wholesale businesses; the manufacturing account of manufacturing businesses)
- Reporting of current assets II (receivables [irrecoverable debts/bad debts]; accounting for returns, carriage, discounts, indirect taxes [esp. VAT]; payroll)
- Reporting of current assets III (bank reconciliations; accounting for accruals and prepayments)
- Reporting of contingent liabilities, provisions, payables, equity
- The financial statements of single entities versus consolidated financial statements (incl. statement of financial position; statement of comprehensive income; statement of changes in equity; cash flow statement; notes)
- Examination training (structure of exam; mock exam; glossary of most important financial accounting terms)
Egger, A./Bertl, R. (2018): Der Jahresabschluss nach dem Unternehmensgesetzbuch. Band 1: Der Einzelabschluss. Erstellung, Prüfung, Veröffentlichung. Wien: Linde Verlag
Grohmann-Steiger, C./Schneider, W. et al (2010): Einführung in die Buchhaltung im Selbststudium. Wien: facultas wuv Verlag.
Moderated group work, lecture, case work
Cumulative module examination
The module grade is calculated weighted by the ECTS credits of the individual courses (ILV - integrated lecture) of the module and results as follows:
ILV "Financial Accounting" - 3 ECTS
Assessment type: Continuous assessment
Assessment method/s: Participation in Class, case work, written final examination