Advanced financial accounting

obligatory courses

Classroom

The aim of the course is to discuss more difficult issues in the field of recognizing business operations in the accounting books of entities applying the Accounting Act and national accounting standards. Knowledge of the basics of accounting and financial accounting is required Students will learn the principles of using estimated assumptions for recognizing and measuring provisions, lease liabilities, long-term service agreements and development contracts, internal turnover. They prepare financial statements with a particular focus on the cash flow statement. Consolidation of knowledge in the field of short-term investments, settlements (e.g. factoring, forfaiting), property, plant and equipment of current assets, fixed assets, equity and provisions

Lecture

1. The multifaceted nature of accounting, accounting as: science, language of business, a set of legal regulations and standards, a system for measuring and valuing economic activity, an information system.

2. Outline of the history of accounting, from antiquity to modern times, evolution of accounting in adaptation to changes in the management of the economy and economic organizations.

3. International accounting – concept and scope, international sources of accounting standardization and Polish balance sheet law, including m.in. International Financial Reporting Standards (IFRS), American accounting regulations (US GAAP, stock exchange financial reporting according to SEC requirements), Islamic balance sheet law. 4

. Structure of financial statements and trends in this respect according to international regulations (IFRS, US GAAP) and Polish law; determination of the financial result, including the overall result.

5. Accounting of financial investments and investment real estate in accordance with IFRS, US GAAP and Polish balance sheet law, including, m.in. money market instruments and cash equivalents, long- and short-term financial instruments, investment property.

6. Accounting of non-current assets in accordance with IFRS, US GAAP and Polish balance sheet law, including m.in. fixed assets and their management, methods of their depreciation, intangible assets and intellectual assets, capital and operating leases, provisions in accounting.

Exercise

Practical accounting, presentation, valuation and disclosure of the effects of events in the following areas: Determination of the financial result – a reminder of the structure of financial statements, a reminder of the structure of costs and revenues and the relationship of profit and loss events with assets and liabilities

Determining the financial result using internal turnover Provisions and accruals and accruals according to KRS and AA (Accounting Act)

Long-term contracts according to KSR and AA

Development agreements according to KSR and AA Financial and operating leases according to KSR and AA

Impairment of assets under KRS and AA

Preparation of the cash flow statement

Equity – the AA and the Commercial Companies Code

The Accounting Act and the current texts of national accounting standards

. Author's materials in electronic form

J. Turyna, Rachunkowość finansowa, wyd. czwarte, Wydawnictwo C.H.Beck, Warszawa 2014.

E.Kalwasińska, D.Maciejowska, Rachunkowość i sprawozdawczość finansowa wg polskiego prawa bilansowego, Wydawnictwo Naukowe WZ Uw, Warszawa 2016 (dostęp: sde.wz.uw.edu.pl)

K. Trzpioła Księgowania wg znowelizowanych regulacji UoR, MSSF/MSR oraz podatkowych - praktyczne wskazówki Wydawnictwo Wiedza i Praktyka Warszawa

Upon completion of the course, the student: K_W02 –Knows and understands accounting principles according to the AA and CRS as well as international law K_W03 Knows and understands - - understands the categories of costs and revenues in terms of the problems discussed in class. K_W01, Knows and understands concepts related to the valuation of assets and liabilities K_W02, Knows and understands the principles of determining the financial result K_U02 Can compare national regulations in the scope discussed in class K_U02 Can determine the financial result taking into account internal turnover, long-term services, provisions K_U01- explain where the items of the balance sheet and profit and loss account related to internal trading, long-term contracts, leasing, provisions come from (as a result of which business operations) K_U02 Can compare national regulations in the scope discussed in class K_U01 Can analyze business operations in the light of accounting principles and standards, K_K03- Can demonstrate the role and capabilities of accounting policy in creating a picture of the property and financial situation of an economic entity, K_U06- Can explain the functions and role of advanced accounting in the processes of managing an economic entity. K_U01, Is able to use information about the circumstances determining the impairment, K_U06, is able to qualify leasing, rental and other agreements

Lecture: written exam (closed questions) – 100% This exam will be conducted in the classroom using an electronic platform,

Exercises, written tests - 70%, ongoing testing of mastered skills (quizzes, group work) - 30%