Financial accounting II

The course is a continuation of Financial Accounting I and covers the topics in more depth and detail. After completing the course, the student should have a more in-depth and practical understanding of bookkeeping with associated documentation, year-end closing with external reporting and an introduction to acquisition transactions.

Learning outcomes:

• Understand accounting rules including IFRS
• Apply relevant accounting rules to record advanced/complex issues including a complete year-end closing
• Prepare periodic mandatory public reports
• Prepare a complete annual financial report with notes
• Prepare a single consolidated financial statement

Knowledge

• Know the main features of IT-based accounting systems and the requirements for security, documentation and control
• Knowledge of practical accounting work and routines
• Knowledge of the bookkeeping law, regulations and recommendations in good accounting practice Knowledge of the accounting rules, including IFRS
• Knowledge of the tax rules, especially for private limited companies
• Knowledge of acquisition transactions

Skills

• Be able to perform ongoing bookkeeping of key transactions in a relevant accounting system
• Be able to complete the year-end closing with the preparation of completed annual accounts
• Be able to make necessary calculations for filling in tax assessments and tax returns
• Be able to prepare term-mandatory tasks / statutory specifications

General competence

• Be able to acquire new knowledge in the field
• Be able to reflect on ethical issues in financial management

Teaching methods:

Lectures, exercise sessions and self-study. Practical, case-oriented approach when using accounting systems. Lectures and exercise sessions are adapted to the expected learning outcome. Lectures and exercise sessions will help students for independent work.