Knowledge and understanding
After successfully completing the course, students will be able to:
Define: Characteristics and contents of basic financial reports and their usage in business and management functions in a business subject. The student should recognise how individual elements of financial reports appear in business and financial environment and understand accounting processing of business events and their influence on the elements of financial reports.
Explain: The aim and purpose of the preparation of financial reports and present informative power of financial reporting in concrete examples. Understand the significance of the presented information in financial reports and recognise their interdependence and possibility of usage in decision-making.
Application
After successfully completing the course, students will be able to:
Group and describe: Describe accounting principles and basic rules in accounting, accounting standards as a framework for preparing financial reports. describe the contents and structure of an individual report.
Understand: To connect theoretical framework with examples of practical application by applying basic theoretical approaches, and to reach the understanding of the information contgained in financial reports.
Apply: By adopting the knowledge about the framework of financial reporting, students will be able to interpret the contents of financial reports, point to the influence of the measurement rules and evaluation, and the application of accounting policies on the safety and successfulness of business operation.
Analysis
After successfully completing the course, students will be able to:
Demonstrate: Characteristics of financial reporting, present the treatment of individual accounting categories in financial reports.
Categorise: Accounting principles and foundations, accounting standards, accounting categories, rules of measurement and evaluation, contents of basic financial reports.
Analyse: Application of classification, standardisation of reports, application of rules of measurement and evaluation and the influence of application on expression of the successfulnesss of business operation and financial status of a company.
Resolve: Analyse, interpret and present financial reports of different companies and observe similarities and differences, as well as causes of the differences.
Synthesis
After successfully completing the course, students will be able to:
Construct connections between rules of documentation, accounting categories and financial reports, and assess the informative power of financial reports. Propose the best manners to present the contents of financial reports and formulate the usage of accounting information in planning, analysis and control of operation.
Examine: To place concrete financial reports into a presented framework and thus show the determination of presented reports, to research applicability in practice and specific characteristics in the application.
Compare: Applicability of rules in different situations and examples, observe differences and similarities in the application of set rules and causes of the differences.
Evaluate and assess: Advantages and disadvantages of individual theoretical and applicative approaches, recognise cases from practice which prove applied approaches, and thus assess the applicability of theoretical approach and applied methods for a specific area that is being analysed.
After successfully completing the course, students will be able to understand the application of methods and techniques of documenting business events and preparing financial reports of business subjects and understand accounting information and their usage in business decision-making.
The students will also increase their capacity of understanding social, economic and financial events. On the level of information, the students will use the terms property, obligations, income, expenditure and financial result with understanding, and will have the ability of critical interpretation.
In the applicative sense, the students will gain the ability of independent professional work and will be able to approach to independent performance of accounting tasks and a simpler abnalysis of a company.
The students will also develop presentation skills, precise argumentation and expressing conclusions in the form that is appropriate for presentation (in oral or written form).
Knowledge is tested by mid-term examinations and/or written examinations and oral examinations.
Mid-term or written examination is a written form of testing knowledge in which the students have to demonstrate that they can define basic concepts, reproduce the explanation of some basic processes, group categories, for example recognise income or expenditure in different contexts, compare concepts and their meaning and apply them in concrete examples and outline how a certain problem could be researched or explained using presented theoretical frameworks.
Mid-term examination is given as apossibility of partial examination. Two mid-term exams are planned.
Grading criteria: written test through miod-term exams and written exam; resolving cases, multiple choice questions, true/false questions (with obligatory underlining of the part of the answer considered to be false) and completion of the text with appropriate words. Each part is graded depending on the number of correct answers, missing words i.e. complexity of the question.
Oral examination consists of testing the understanding of basic concepts, comparison of basic theories and concepts, demonstrating the possibility to apply them in explaining concrete business events and examples, evaluation of applicability of theoretical structure in individual categories and examples.
