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Lecturer(s)
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Homola David, Ing. Ph.D.
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Paseková Marie, doc. Ing. Ph.D.
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Course content
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- International regulation and harmonization (history of international accounting standards, development in world and Czech Republic, signification of institution IASB and FASB, convergence IFRS and US GAAP), benefits and disadvantages of presentation according to IFRS. -- Conceptual Framework (basic terms, definition of assets, liabilities, equity, expenses and revenues, measurements concepts). - Financial statements (Presentation of financial statements, Earnings per share, Accounting policies, Changes in accounting estimates and errors), Events After The Reporting Period, Interim reporting). Comparison with Czech legislation. - Other elements of financial statements (Provisions). - Revenues. - Leasings.
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Learning activities and teaching methods
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Lecturing, Practice exercises
- Home preparation for classes
- 44 hours per semester
- Preparation for course credit
- 20 hours per semester
- Participation in classes
- 26 hours per semester
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| prerequisite |
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| Knowledge |
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| Knowledge of Basics of Accounting, Financial Accounting I and Financial Accounting II |
| Knowledge of Basics of Accounting, Financial Accounting I and Financial Accounting II |
| Basic knowledge of accounting. |
| Basic knowledge of accounting. |
| learning outcomes |
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| After passing this course students will be able to apply the basic principles of international accounting and to understand the financial statements according to IFRS. |
| After passing this course students will be able to apply the basic principles of international accounting and to understand the financial statements according to IFRS. |
| Characterize the information needs of users of financial statements, the objectives of compiling financial statements and the description of the components of financial statements |
| Characterize the information needs of users of financial statements, the objectives of compiling financial statements and the description of the components of financial statements |
| Define the basic assumptions for compiling financial statements |
| Define the basic assumptions for compiling financial statements |
| Define the qualitative characteristics of financial statements |
| Define the qualitative characteristics of financial statements |
| Define the basic elements of financial statements and the conditions for their reporting in financial accounting reports |
| Define the basic elements of financial statements and the conditions for their reporting in financial accounting reports |
| Define requirements for measurement of financial statement elements |
| Define requirements for measurement of financial statement elements |
| unspecified |
| unspecified |
| Skills |
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| Calculate basic and diluted earnings per share |
| Calculate basic and diluted earnings per share |
| Define changes in accounting policies, changes in accounting estimates and significant accounting errors |
| Define changes in accounting policies, changes in accounting estimates and significant accounting errors |
| unspecified |
| unspecified |
| Explain events leading to adjustments to financial statements |
| Explain events leading to adjustments to financial statements |
| Explain events not leading to adjustments to financial statements |
| Explain events not leading to adjustments to financial statements |
| Define the basic characteristics of long-term and short-term assets |
| Define the basic characteristics of long-term and short-term assets |
| Define the conditions for recognizing intangible assets |
| Define the conditions for recognizing intangible assets |
| Establish conditions for the recognition and valuation of leasing at the lessee |
| Establish conditions for the recognition and valuation of leasing at the lessee |
| Define revenue recognition conditions |
| Define revenue recognition conditions |
| Identify impairment of assets |
| Identify impairment of assets |
| Define the conditions for recognizing provisions, contingent liabilities and contingent assets |
| Define the conditions for recognizing provisions, contingent liabilities and contingent assets |
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| teaching methods |
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| Knowledge |
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| Lecturing |
| Lecturing |
| Practice exercises |
| Practice exercises |
| assessment methods |
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| Grade (Using a grade system) |
| Written examination |
| Grade (Using a grade system) |
| Written examination |
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Recommended literature
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EDMOMDS, T., McNAIR, F, EDWARD, E., EDMONDS, C. Fundamental Financial Accounting Concepts. New York: McGraw-Hill Irwin, 2000. ISBN 0-070116945-8.
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HERMANSON R, H., EDWARDS, J. D. Financial Accounting a Business Perspective. New York: McGraw-Hill Irwin, 2002. ISBN 0-256-24738-2.
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Larsen, E. John. Modern advanced accounting. 10th ed. New York, NY : McGraw-Hill/Irwin, 2006. ISBN 0-07-292255-9.
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Paseková, M. Accounting in English. Studijní text. Zlín, UTB., 2011.
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Wild, John J. Financial accounting : information for decisions. 4th ed. Boston : McGraw-Hill, 2008. ISBN 0-07-304375-3.
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