Universidad Pública de Navarra - Nafarroako Univertsitate Publikoa
Public University of Navarre
| Course code: 176201 | Subject title: FINANCIAL ACCOUNTING I | ||||
| Credits: 6 | Type of subject: Basic | Year: 1 | Period: 2º S | ||
| Department: Business Administration | |||||
| Lecturers: | |||||
| LIZARRAGA DALLO, FERMÍN (Resp) [Mentoring ] | |||||
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.
General proficiencies
GP01 A capacity for analysis and synthesis
GP03 Oral and written communication in their mother tongue
GP06 The ability to search for and analyse information from different sources
GP12 Interpersonal skills
GP15 An ethical approach to work
GP17 A capacity for self-reliant learning
Specific proficiencies
EP02 To identify sources of economic information relevant to their particular enterprise and their contents
EP03 To discern information and data relevant to their particular enterprise which a non-professional would be unable to recognise
EP04 To analyse business management problems, applying professional criteria based on the use of technical instruments
EP07 To assess the situation and foreseeable development of a company on the basis of the relevant records
EP16 To design accounting systems and produce internal and external accounting reports
Learning outcomes
LO03. Basic theory for decision makingFundamentos teóricos de la toma de decisiones
LO05. Basic background in accounting theory
LO09. Analysis of the financial position and net results of a company, flow of funds and cost determination.
LO11. Alternative investment projects, porfolio analysis, financial structure: cost of capital, profitability-risk analysis
LO14. Management support through the design and implementation of different information systems.
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:
| Learning activities | Hours (Classroom) | Hours (Out of classroom) |
| A-1 Presentations | 27 | |
| A-2 Lab sessions | 28 | |
| A-3 Office hours for Group cases | 13 | |
| A-4 Team work | 20 | |
| A-5 Advanced reading for presentations | 20 | |
| A-6 Studying and preparing lab sessions | 30 | |
| A-7 Exams | 5 | |
| A-8 Office hours (individual) | 2 | |
| Total | 60 | 90 |
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%
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
Bibliography
Access the bibliography that your professor has requested from the Library.
Weygandt, Jerry J., Paul D. Kimmel and Donald E. Kieso (2013). Financial accounting. IFRS Edition. Wiley (ISBN 978-0-470-55200-1)