Principles of Accounting

2024/2025

Academic Year

ENG

Instruction in English

6

ECTS credits

Delivered at:

International College of Economics and Finance

Course type:

Compulsory course

When:

2 year, 1-4 module

Instructors

Kondrakhina, Olesya

Poleshchuk, Victoria

Shurchkova, Tatiana

Course Syllabus

Abstract

The course develops background for understanding and reading companies’ financial reports and for assessing company’s financial position and making managerial decisions. The course covers basic concepts of modern financial reporting, essentials in UK standard of financial and managerial accounting. It provides basic knowledge in preparing, processing and interpreting the data about business transactions for diff t types of external as well as internal investors, management and other accounting information users. The course requires the knowledge in micro and macroeconomics and banking. The course is based on lectures, seminars, case studies and self-study. “Principles of Accounting” is a two-semester course designed to prepare students for UL examination.

Learning Objectives

• The course isfocused on developing skills in preparing and analyzing companies’ financial statements and data for decision-making purposes.
• By the end of autumn semester students are expected to be able to apply a set of accounting concepts to read annual financial report of a corporation and financial ratios to assess its position.
• By the end of spring semester students are expected to apply managerial accounting analytical tools for internal control, pricing and developing different budgets for financial planning purposes as well as to get essential skills in capital budgeting techniques.

Expected Learning Outcomes

• categorise cost behaviour, and prepare and contrast inventory valuations under different costing methods
• describe the budgeting process and discuss the use of budgets in planning and control
• distinguish between different uses of accounting information and relate these uses to the needs of different groups of users
• explain the limitations of financial statements and their analysis
• explain, discuss and apply relevant techniques to aid internal users in decision-making.

Course Contents

• Accounting Model of the Organization
• Interpretation of Financial Reports
• Accounting and Managerial Decision-Making

Assessment Elements

• Participation
• Case study
• Final exam
  In order to get a passing grade for the course, the student must sit (all parts) of the examination.
• Midterm
• Home assignments

Interim Assessment

• 2024/2025 4th module
  0.05 * Case study + 0.4 * Final exam + 0.13 * Home assignments + 0.18 * Midterm + 0.135 * Midterm + 0.075 * Midterm + 0.03 * Participation

Bibliography

Recommended Core Bibliography

• Accounting : understanding and practice, Leiwy, D., 2013

Recommended Additional Bibliography

• Cost accounting : a managerial emphasis, Horngren, C. T., 2015

Authors

• KONDRAKHINA Olesia SERGEEVNA
• SHURCHKOVA TATYANA SERGEEVNA