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Teaching GuideTerm Faculty of Economics and Business |
| Grao en Administración e Dirección de Empresas |
 Subjects |
| Financial Accounting I |
| Contents |
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| Identifying Data | 2023/24 | |||||||||||||
| Subject | Financial Accounting I | Code | 611G02013 | |||||||||||
| Study programme |
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| Descriptors | Cycle | Period | Year | Type | Credits | |||||||||
| Graduate | 1st four-month period |
Second | Obligatory | 6 | ||||||||||
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| Topic | Sub-topic |
| Section I: Foundations of Accounting. Introduction to the recording process. | Section I |
| Lesson 1: Introduction to Accounting |
1.1. Economic activity and the need for information 1.2. Definition and types of accounting |
| Lesson 2: Assets, liabilities, and owners' equity | 2.1. Definition of assets, liabilities, and owners' equity 2.2. Accounting duality 2.3. Changes in assets, liabilities, and owners' equity a) Accounting events b) Materiality c) Profit or loss for the period |
| Lesson 3. The recording process | 3.1. The accounting method 3.2. The account. Definition and representation. Technicalities 3.3. Accounting duality 3.4. Accounting records. Journal and general ledger. Trial balance 3.5. Recording basic transactions a) Inventory b) Cash c) Accounts receivable and accounts payable d) Non-current assets e) Shareholders' equity |
| Lesson 4: The accounting cycle | 4.1. Steps of the accounting cycle 4.2. End-of-period adjustments |
| Section II: Recording basic accounting events | Section II |
| Lesson 5. Inventories | 5.1. Recording inventory transactions 5.2. Inventory valuation methods (FIFO and WAC) 5.3. Cost of goods sold and gross profit |
| Lesson 6. Long-lived assets | 6.1. Definition and types 6.2. Purchases of long-lived assets 6.3. Depreciation and amortization 6.4. Disposal of long-lived assets |
| Lesson 7. Accounting for VAT |
7.1. Value Added Tax (VAT) 7.2. Input VAT and Output VAT 7.3. Recording VAT in purchase and sale transactions 7.4. VAT clearance |
| Lesson 8. Other operations |
8.1.Cash and credit accounts 8.2. Personnel expenses |
| Lesson 9. Interpreting the content of the financial statements | 9.1. The balance sheet 9.2. The income statement |
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