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Financial Accounting

Exam number: 1131

Semester: from 1st semester (Grundlagenausbildung)

Duration of the module: One semester

Form of the module (i.e. obligatory, elective etc.): Obligatory

Frequency of module offer: Each winter semester

Prerequisites: None

Applicability of module for other study programmes:
Obligatory or elective in other study programmes. For further information check regulations of the study programme.

Person responsible for module: Prof. Dr. Sonja Wüstemann

Name of the professor: Prof. Dr. Sonja Wüstemann

Language of teaching: English

ECTS-Credits (based on the workload): 6

Workload and its composition (self-study, contact time):
Contact time (lecture, tutorials etc.) 45 h; self-study: 135 h

Contact hours (per week in semester): 4

Methods and duration of examination:
Successful written exam (120 min)

Emphasis of the grade for the final grade: Please check regulations of the study programme

Aim of the module (expected learning outcomes and competencies to be acquired):
Students know
- the purpose of and reason for double-entry book-keeping,
- how business events affect financial statements,
- the basic principles of international financial reporting standards.
They understand
- the accounting terminology,
- the accounting cycle.
They are able to
- enter transactions and events into the book-keeping system
- prepare the basic financial accounting statements.

Contents of the module:
This course is an introduction to the basic concepts and principles underlying financial accounting systems from the international perspective. It addresses the accounting cycle and data entry into the accounting system (book-keeping). Several accounting topics will be studied in detail, such as inventory, revenue recognition and depreciation of long-lived assets. The module also deals with the construction of the basic financial accounting statements and their interpretation (financial statement analysis).

Teaching and learning methods:
Lecture with tutorials, self-studies

Literature (compulsory reading, recommended literature):
Weygandt, Kimmel and Kieso: Financial Accounting, IFRS Edition, 1st edn., John Wiley & Sons, 2010

Further information:
Registration in Moodle Viadrina required.