Universidad Pública de Navarra - Nafarroako Univertsitate Publikoa

Contents

The main goal of this course is to introduce students to accounting in a way that demonstrates the importance of accounting to society and its relevance to their future careers. Now more than ever, students must be knowledgeable about the current environment of accounting where strong forces are in place to achieve a global set of international financial reporting standards (IFRS). All business professionals need to understand financial statements and use accounting information. This course:

• Demonstrates the accounting model and the methods of compiling and presenting financial information.
• Describes the structure of financial accounting including the recognition, measurement and communication of economic events.
• Performs the elementary tasks in the accounting cycle that include journalizing, posting to the ledger, accruals and other adjustments, closing of the books and drawing up trial balances.
• Compiles the four basic financial statements from the accounting records: statement of financial position, income statement, statement of retained earnings and statement of cash flows.
• Makes an understanding of the role played by the IASB in the global harmonization of accounting standards.

With the knowledge gained in this course the student will be taking a first step in the process that will provide the skills to prepared, interpret and analyze real-world financial statements.

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Descriptors

Financial information, decision making, accounting model.

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General proficiencies

CG01. Analysis and synthesis skills
CG03. Oral and written communication skills
CG06. Ability to search and analyze information from varied sources
CG12. Social skills
CG15. Ethic behaviour in the job
CG17. Self-directed learning

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Specific proficiencies

CE02. Identify relevant economic information and its content
CE03. Recognize information from data in a professional way
CE04. Apply professional criteria and technical tools to solve business problems
CE07. Assess the financial position and future performance of a company
CE16. Design a basic accounting system and compile accounting information for external and internal users

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Methodology

The course is organized around two 100-minute sessions per week: a lecture and a lab session. Power point and other material used will be taken mostly from the textbook website. For each session there will be assigned readings and problems from the book. Active student involvement in the learning process is encouraged. In order to participate, students will have to be prepared. It is virtually impossible to do well in this class without devoting a considerable amount of time to reading in advance and solving homework assignments. Regular attendance and active participation are expected. Groups of 2 and 4 students will be organized for the different activities and presentations.
Six office hours will be available each week. A MiAulario web course will also be available which will contain copies of course materials (the course outline, lecture power point notes and solutions for some of the cases) and other accounting-related information. You can communicate with the lecturer and your classmates using the communication functions of the web course.
Students are expected to do different kinds of work for this course. The learning activities and the total number of hours students should devote to each task are provided in the following table:

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Evaluation

Continuous assessment: 30%. Exams: 70%. Only the exams part will be considered recoverable.

Additionally, the following minimum requirements will be applied:

Final exam: for attendance, none. To pass the course, minimum qualification = 4 out of 10 (2.8 if out of 7).

Recovery exam: for attendance, the student must have previously "tried without success". This means a minimum qualification of 1 out of 3 in the continuous assessment. To pass the course, same requirement as for the final exam. A more detailed version of activities-competences is the following:

* Participation and discussion in lectures and lab sessions 10%
* Team presentations and case assignments 20%
* Exams 70%

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Agenda

Unit 1. Accounting in action
Unit 2. The recording process
Unit 3. Adjusting the accounts
Unit 4. Completing the accounting cycle
Unit 5. Accounting for merchandising operations
Unit 6. Inventories
Unit 7. Accounting for receivables
Unit 8. Payroll accounting

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Bibliography

Access the bibliography that your professor has requested from the Library.

Weygandt, Jerry J., Paul D. Kimmel and Donald E. Kieso (2010). Financial accounting. IFRS Edition. Wiley (ISBN 978-0-470-55200-1)

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Languages

English.

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Location

Aulario UPNA. Campus Arrosadía. Pamplona.

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