Bachelor
2025/2026
Principles of Accounting
Type:
Compulsory course (International Programme in Economics and Finance)
Delivered by:
International College of Economics and Finance
When:
2 year, 1, 2 semester
Open to:
students of one campus
Language:
English
Contact hours:
116
Course Syllabus
Abstract
The course develops background for understanding and reading companies’ financial reports and for assessing company’s financial position and making managerial decisions. The course covers basic concepts of modern financial reporting, essentials in UK standard of financial and managerial accounting. It provides basic knowledge in preparing, processing and interpreting the data about business transactions for diff t types of external as well as internal investors, management and other accounting information users. The course requires the knowledge in micro and macroeconomics and banking. The course is based on lectures, seminars, case studies and self-study. “Principles of Accounting” is a two-semester course designed to prepare students for UL examination.
Learning Objectives
- The course isfocused on developing skills in preparing and analyzing companies’ financial statements and data for decision-making purposes.
- By the end of autumn semester students are expected to be able to apply a set of accounting concepts to read annual financial report of a corporation and financial ratios to assess its position.
- By the end of spring semester students are expected to apply managerial accounting analytical tools for internal control, pricing and developing different budgets for financial planning purposes as well as to get essential skills in capital budgeting techniques.
Expected Learning Outcomes
- categorise cost behaviour, and prepare and contrast inventory valuations under different costing methods
- describe the budgeting process and discuss the use of budgets in planning and control
- distinguish between different uses of accounting information and relate these uses to the needs of different groups of users
- explain the limitations of financial statements and their analysis
- explain, discuss and apply relevant techniques to aid internal users in decision-making.
Course Contents
- Accounting Model of the Organization
- Interpretation of Financial Reports
- Accounting and Managerial Decision-Making
- Accounting Process
- Introduction to The Course. The Scope of Accounting.
- Accounting Adjustments
- Accounting and Reporting Noncurrent Assets: Fixed Assets
- Accounting for Inventories
- The Conceptual Framework
- Accounting in Corporations: Equity, Capital and Dividends
- The Cash Flow Statement
- Accounting and Reporting for Intangible Assets
- Using and Understanding Financial Statements: Ratio Analysis
- Internal Control
- Introduction to Costing
- Absorption and Variable Costing. Over- and Under-absorption
- ABC and Traditional Costing
- CVP analysis and The Optimal Choice of Scarce Resources
- Flexible Budgets and Variance Analysis
- Cash Budgeting
- Capital Investment Appraisal
Assessment Elements
- Final examIn order to get a passing grade for the course, the student must sit (all parts) of the examination.
- Midterm October
- Midterm March
- Case study
- Participation
- Home assignments
- Midterm January
Interim Assessment
- 2025/2026 2nd semester0.05 * Case study + 0.4 * Final exam + 0.13 * Home assignments + 0.135 * Midterm January + 0.18 * Midterm March + 0.075 * Midterm October + 0.03 * Participation
