Accounting 1
Main language of instruction: Catalan
Other languages of instruction: English, Spanish
If the student is enrolled for the English track then classes for that subject will be taught in the same language and also in Spanish.
Head instructor
Dr. Eudald RIBAS - eribas@uic.es
Dra. Nuria VILLAESCUSA - nvillaescusa@uic.es
Office hours
Tutorials should be requested by email: rbastida@uic.es
The first part of the course is an introduction to accounting and basic results which will enable the student to understand accounting and to master the science of methodology and procedures. Despite the fact that accounting rules could change over time and could be different in different countries , there are some rules and principles that remain unchanged. These will be the object of study in this course, which will lay the foundation for the understanding of the other disciplines of accounting that will be studied at a later date. After studying the fundamentals, methodology and accounting procedures the second part of the course consists of the study of current accounting laws, PGC 2007. This plan has been recently adopted and its content will be throughly studied, especially record accounting of all of the transactions that occur in the development of a business.
No previous knowledge of accounting is required.
Item 1. Accounting and Information Systems
The economic environment and the need for information. Accounting concept. Users of accounting information. Accounting information systems. Requirements of accounting information. Accounting Division.
Issue 2. The Balance Sheet: economic and financial structure of the company. Wealth or assets of the company: variations. Assets and liabilities. A balanced situation as a means of expressing a balanced patrimony.
Item 3. Methodology and instruments accounting representation. The accounting method: principle of duality. Measurement and accounting valuation. Instruments of representation: the account ledgers.
Item 4. Study of basic accounting major economic transactions:
4.1-Fixed assets: acquisition, depreciation and drop in value.
4.2-inventories, trade payables and receivables.
4.3 Trade and non-trade receivables. Financial assets and liabilities.
Item 5. Income statement. Structure of the income statement. Result type.
Item 6. The accounting cycle. Concept and phases of the accounting cycle. Opening. Development. Regularización.Determinación of profit. Closing accounts. Preparation of the financial statements.
Item 7. Legal accounting regulations. PGC 2007. The international accounting regulation: NIC. The legal regulation of accounting in Spain: The Spanish General Accounting Plan: conceptual framework.
Item 8. Non Current Assets. Tangible and Intangible Assets, Finance and Operating Leases.
Item 9. Financial Instrument: Financial assets and financial liabilities. Valuation rules, registration and accounting treatment.
Item 10. Inventories. Valuation rules, registration and accounting treatment.
Item 11. Trade receivables and VAT. Trade bills recording: discount, doubtful trade bills, VAT liquidation.
Item 12. Personnel expenses. Personnel expenses registration, liquidation of the obligations with the National Agencies, salary advances
Item 13. Provisions and contingencies. Valuation rules, registration and accounting treatment.
The course consists of theoretical sessions in which the concepts necessary for the fulfillment of the course objectives will be presented. These sessions will be complemented with practical sessions spanning most of the time in the classroom. It is particularly important that students do the necessary work before class so that they can participate activily. Students should be able to participate in adiscussion forum about the interpretation of the results. Trainning activities:
Continuous evaluation (60% of the final note):
Final evaluation (40% of the final note):