Universitat Internacional de Catalunya - Barcelona

Accounting 1

• code 10304
• course 2
• term Semester 1
• type OB
• credits 9

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.

• To understand the fundamental principles of accounting and accounting methodology and to master the technical and financial tools. 
• To assess basic economic transactions carried out an economic unit. 
• Knowledge of accounting standards that refer to the accounting of the economic events of the company and their impact on the balance sheet and the income statement.
• Thorough knowledge of the General Accounting Plan 2007. 
• Development of the accounting cycle. 
• To process and interpret basic financial statements: balance sheet and income statement

• 01 - To be familiar with, understand and apply the methods, techniques and instruments specific to accounting.
• 02 - To be familiar with and know how to interpret and apply current accounting standards.
• 03 - To select and adequately apply applicable accounting alternatives.
• 04 - To understand and know how to use financial terms within a business framework.
• 05 - To understand the functions of corporate finance departments.
• 06 - To know how to apply the main policies for capital structure and asset management.
• 31 - To develop the ability to identify and interpret numerical data.
• 32 - To acquire problem solving skills based on quantitative and qualitative information.
• 50 - To acquire the ability to relate concepts, analyse and synthesise.
• 51 - To develop decision making skills.
• 52 - To develop interpersonal skills and the ability to work as part of a team.
• 53 - To acquire the skills necessary to learn autonomously.
• 54 - To be able to express one’s ideas and formulate arguments in a logical and coherent way, both verbally and in writing.
• 59 - To skilfully use software and ICTs.

• The ability to apply concepts related to accounting.
• The ability to use tools related to the activities of the area.
• The ability to work independently and manage time.
• The ability to perform work on specific aspects of accounting and present it in a clear and understandable way.
• The ability to perform accounting and financial analysis from the available information and use it in making decisions.
• To understand and be willing to respect the rules of the profession.

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:

• magister class
• classroom practice (solving problems/videos/text comments/essays)
• individual study
• solving problems at classroom
• report presentations

Continuous evaluation (60% of the final note):

• Partial exam 30% (unrecoverable).
• Hand in of case studies and participation in the class 15% (unrecoverable).
• Obligatory presentation of the final work 15% (unrecoverable)

Final evaluation (40% of the final note):

• Final exam 40%. It is necessary to pass the exam in order to make the final assessment on the average continuous evaluation (recoverable).

• AMAT, Oriol et al. "NUEVO PGC Y PGC PYMES: UN ANÁLISIS PRÁCTICO Y A FONDO".Bresca Editorial, S.L, 2008.
• HORNGREN, SUNDEM, ELLIOTT and PHILBRICK. "INTRODUCTION TO FINANCIAL ACCOUNTING. Prentice Hall. 9th Edition. 2006.
• MALLO, Carlos; PULIDO, Antonio. CONTABILIDAD FINANCIERA: Un enfoque actual. Ed.Paraninfo, 2008.
• MONLLAU, Teresa “Manual pràctic de comptabilitat financera. Aspectes teòrics i pràctics del PGC 2007”. Col·lecció manuals ACCID, Barcelona, 2011.
• MUÑOZ MERCHANTE, Ángel. " FUNDAMENTOS DE CONTABILIDAD". Editorial universitaria Ramón Areces, 2008.
• MUÑOZ MERCHANTE, Ángel. " PRÁCTICAS DE CONTABILIDAD". Editorial universitaria Ramón Areces, 2008.
• Nuevo Plan General Contable: 205 supuestos prácticos. Ediciones Francis Lefebre, S.A, 2007.
• Real Decret 1514/2007, de 16 de novembre, per el qual s'aproba el Pla General de Comptabilitat.
• Soldevila, P., Oliveras, E., i Begur, Ll. “Contabilidad General con el nuevo PGC. ACCID-Profit. Barcelona, 2009.
• STICKNEY, WEIL, SHIPPER and FRANCIS. "FINANCIAL ACCOUNTING. AN INTRODUCTION TO CONCEPTS, METHODS AND ISSUES". South-Western Cengage Learning. 13th Edition. 2010.