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Objectives
To introduce the basic principles of accounting.
Contents
Accounting is essential in understanding and managing organisations, whether it concerns public firms, private firms, or non-profit, government or other types of organisations. In this course the basic principles of financial and management accounting are introduced.
Financial accounting deals with recording and reporting financial transactions using balance sheets, profit-and-loss statements and cash flow statements. An important goal of financial accounting is to provide outsiders with correct and trustworthy information. Therefore, an organisation's financial reporting is subject to rules and regulations. We discuss double-entry bookkeeping, accrual accounting and financial statements, as well as the role of accounting in organisations' dealings with outsiders such as investors, banks and customers.
Management accounting deals with the information needs of internal users, primarily managers in the company or organisation. Management accounting systems provide managers with the quantitative information that they need to make business decisions. Much of this information is about costs and cost behaviour. The course content covers different techniques that organisations use to allocate costs to for example products, departments and customers. In addition, there will be discussed how cost information should be used in economic decision-making processes in organisations.
Format
Weekly: two two-hour lectures and one two-hour tutorial.
Time
Please go to http://rooster.uva.nl
Study materials
- Marshall, D.H., McManus, W.W. and Viele, D.F. Accounting: What the numbers mean. McGraw-Hill/Irwin, New York (NY), 9th edition, ISBN (UvA specific): to be announced.
- supplementary teaching materials will be distributed through Blackboard at https://blackboard.ic.uva.nl.
Please note that the ISBN code for the book is unique for this UvA-course; the book contains a ConnectPlus Access card that provides access to ConnectWeb. The ConnectPlus Access card provides you access to an UvA-tailored website Connect that is also used for the home assignments.
Assessment
- the final grade consists of:
- a midterm examination, in week 4. The result of this midterm test will account for 35% of the final mark;
- a final examination, in week 8. The result of this second test will account for 65% of the final mark.
- kinds of questions:
- midterm examination: multiple choice questions;
- final examination: open questions.
- bonus assignments:
students can earn a bonus if they obtain a pass for five out of six homework assignments for this course. These assignments will be graded individually per student. Jointly, the assignments can earn a student up to an additional 0.65 points for the final grade. This is a bonus on top of the final grade resulting from the midterm and the final exam;
- in the case of a resit, the results obtained for these partial examinations and bonus assignments will be disregarded. During a resit, the full course matter will be tested;
- the result of the final examination, which accounts for 65%, should be at least 4,5;
- first-year students from the Faculty of Economics and Business need to score a passing grade for the course Academic and Study Skills (2 EC) before they are eligible of receiving a passing grade for this course;
- second- or third-year students from the Faculty of Economics and Business (who did not pass this course in their first year) need to score a passing grade for the course Academic and Study Skills (2 EC) in the same year in which they pass Accounting before they are eligible of receiving a passing grade for this course.
Examination date
Please go to http://rooster.uva.nl and http://www.student.uva.nl/feb-academicyear.
Remarks
This course is an entry requirement for the courses Intermediate Financial Accounting 1 (6 EC), Intermediate Financial Accounting 1 (6 EC) and Intermediate Financial Accounting 2 (6 EC).
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