Financial Accounting

General characterization

Prerequisites

Bibliography

Weygandt, Kimmel and Kieso (2015), Financial Accounting: IFRS, 3rd edition, John Wiley & Sons
Short, Libby and Libby (2011), Financial Accounting A global perspective, 7th edition, McGraw Hill
International Accounting Standards (IAS/IFRS)

Resources

The course support materials will be available in the moodle website. These materials include the slides presented in classes, a handbook of exercises, and legal documents.

Teaching method

The course is composed of two theoretical and practical classes, in an equal number of hours. The theorists focus on the framing aspects of each topic and their applications for real-life situations. The practical lessons are based on exercises and case discussions to provide a practical application of financial accounting concepts, tools and practices.

During the course the following teaching and learning methods are adopted:

1. Expositive, with presentation of theoretical frames of reference;

2. Participatory, with analysis and resolution of cases and application problems;

3. Active, with individual works;

4. Self-study, related to the student´s autonomous work, as contemplated in class planning.

These methods aim to develop the students´ main learning skills that allow them to fulfill each of the learning objectives described above.

Evaluation method

Continuous assessment is mandatory for all students (see Grade improvements) and consists of:

•    Final exam ( 55%) [either Regular Exam Period or Resit Exam Period ]
The approval in the discipline is dependent on achieving a minimum score of 9.5 in the final exam (see exam schedule)
•    Three intermediate tests (1st test: 10 %; 2nd test: 15 %; 3rd test: 15%) .
The three intermediate tests are mandatory and, as in the final exam, students will not be allowed to consult study elements, or the use of calculating programmable machines. If a student misses the intermediate tests he must justify the absence of the Pedagogical Council, within 5 working days after the test date (dates will be posted on the moodle).
Class participation ( 5%).

Participation in theoretical and practical classes will be evaluated based on the performance shown by students during term time, pondering the attendance, the individual and the active participation of students in the discussion of the problems presented.
Grade improvement students can choose to attend just the final exam [either Regular Exam Period or Resit Exam Period] (100% of the grade) or continuous assessment (as described on the paragraph above). if a student (who is improving his grade) takes the first intermediate test it is assumed that he/she is in continuous assessment.

Subject matter

•    Objectives, role and users of accounting.
•    Accounting method and organization of accounting work.
•    Brief presentation of international accounting standards.
•    Conceptual framework: objectives, assumptions and characteristics of financial information; Elements of financial statements.
•    Key financial statements: balance sheet, income statement and statement of cash flows.
•    Recognition and measurement of elements of financial statements: current assets and non-current assets; current liabilities and non-current liabilities; equity, revenues and expenses.
•    Introduction to financial analysis and study of the most common ratios.

Programs

Programs where the course is taught: