Course code Ekon2120

Credit points 4

Basics of Accounting

Total Hours in Course160

Number of hours for lectures16

Number of hours for seminars and practical classes48

Independent study hours96

Date of course confirmation18.12.2018

Responsible UnitInstitute of Finance and Accounting

Course developer

author Finanšu un grāmatvedības institūts

Baiba Mistre

Mg. oec.

Prior knowledge

Ekon1012, Microeconomics

Course abstract

The course is designed to familiarise students with the role, tasks, requirements and method of accounting and the items to be accounted for. Students learn how to record accounting items in the double and single entry systems and draw up the most commonly used accounting documents, registers and reports.

Learning outcomes and their assessment

1. Students will be able to: demonstrate the knowledge and understanding of the role, requirements, items and method of accounting- Discussions in classes.
2. Demonstrate the knowledge and understanding of double entry accounting- Test with calculations.
3. Demonstrate the knowledge and understanding of single entry accounting- Test with calculations.
4. Demonstrate the knowledge of accounting documents, registers and reports - Independent work.
5. Apply the legal framework on accounting to the double and single entry accounting systems - Discussions and practical assignments.
6. Account for an enterprise’s assets, sources of finance, economic processes and financial performance, using the double entry accounting system – Practical assignments.
7. Keep records in key accounting registers in the single entry accounting system – Practical assignments.
8. Account for long-term investments, current assets and accounts payable in the single entry accounting system – Practical assignments.
9. Responsibly plan the completion of the assignments given – Practical assignments.
10. Independently acquire, select and analyse necessary information and use it in completing accounting assignments – Practical assignments.
11. Independently keep record of business transactions in the double and single entry accounting systems – Tests, practical assignments.

12. Comprehend the nature, composition and content of accounting reports and how to draw up and submit the reports, independently draw up a balance sheet and a profit and loss account- Examination

Course Content(Calendar)

1. Accounting, its role, tasks and requirements (lecture – 1 hour, practical - 2 hours)
2. Subject and method of accounting (lecture – 2 hours, practical - 4 hours)
3. Accounting balance sheet (lecture – 1 hour, practical -7 hours)
Test 1: Classification of assets and resources, accounting balance sheet, changes in balance sheet items (1 hour)
4. Accounting Accounts and Accounting of Business Transactions in Accounts (lecture – 2 hours, practical -14 hours)
5. Accounting documents and registers (lecture – 1 hour, practical -3 hours)
6. Accounting work organization (lecture – 2 hours)
7. Accounting reports (lecture – 1 hour)
Test 2: Accounting accounts and double entry, documentation (1 hour)
8. Income and expenditure accounting in Single-Entry Accounting (lecture – 1 hour, practical -2 hours)
9. Single entry accounting objects (lecture – 3 hours, practical -7 hours)
10. Calculation and accounting of taxes (lecture – 2 hours, practical -6 hours)

Test 3: Accounting and tax calculation of Single - Entry Accounting (1 hour)

Requirements for awarding credit points

Examination (written) - 40%
The exam consists of a test, questions about all the topics and tasks.
Three test with calculations – 60%
10% are equal to one point on a 10-point marking scale

Description of the organization and tasks of students’ independent work

Acquire and consolidate theory material, to study normative basis and to perform practical assignments. Prepare for tests and exam.

Criteria for Evaluating Learning Outcomes

Assessment of the course is formed:
Examination (written) - 40%
Three test with calculations – 60%
10% are equal to one point on a 10-point marking scale.

Compulsory reading

1. Leibus I., Grigorjeva R., Jesemčika A., Svarinska A. Grāmatvedības pamati uzņēmumos. Atkārtots un atjaunots 2. izdevums. Rīga: Lietišķās informācijas dienests, 2016. 195 lpp. Ir LLU FB 52 eks.
2. Leibus I. Pašnodarbināto grāmatvedība un nodokļi. Atkārtots un atjaunots 8. izdevums. Rīga: Lietišķās informācijas dienests, 2018. 147 lpp. Ir LLU FB 15 eks.
3. Bojarenko J., Beļavska L., Tjurina A. Finanšu grāmatvedība: teorija un prakse. I daļa. Rīga: KIF Biznesa komplekss, 2009. 268 lpp. Ir LLU FB 19 eks.
4. Leibus I. Pirmie soļi komercdarbībā: darbības uzsākšana, grāmatvedība un nodokļi. Rīga: Lietišķās informācijas dienests, 2016. 152 lpp. Ir LLU FB 6 eks.
5. Beļavska L. Grāmatvedības pamati atbilstoši starptautiskajiem un nacionālajiem standartiem: Mācību līdzeklis. Rīga: SIA KIF Biznesa Komplekss, 2007. 248 lpp. Nav LLU FB. Ir LNB.

6. Астахов В.П. Теория бухгалтерского учета: Учебное пособие. - Москва: ИКЦ «МарТ»; Ростов н/Д: Издательский центр «МарТ», 2006. - 576 с.

Further reading

1. Par grāmatvedību: LR likums [tiešsaiste]. Pieņemts: 14.10.1992. Stājas spēkā 01.01.1993. ar grozījumiem [skatīts 12.12.2019.] Pieejams: https://likumi.lv/ta/id/66460-par-gramatvedibu
2. Gada pārskatu un konsolidēto gada pārskatu likums: LR likums [tiešsaiste] Pieņemts: 22.10.2015. Stājas spēkā 01.01.2016. ar grozījumiem [skatīts 12.12.2019.] Pieejams: https://likumi.lv/ta/id/277779-gada-parskatu-un-konsolideto-gada-parskatu-likums
3. Noteikumi par grāmatvedības kārtošanu un organizāciju: MK noteikumi Nr. 585 [tiešsaiste] Pieņemts: 21.10.2003. Stājas spēkā 30.10.2003. ar grozījumiem [skatīts 12.12.2019.] Pieejams: https://likumi.lv/doc.php?id=80418

4. Dokumentu izstrādāšanas un noformēšanas noteikumi: MK noteikumi Nr. 558 [tiešsaiste] Pieņemts: 04.09.2018. [stājas spēkā 07.09.2018.] ar grozījumiem [skatīts 12.12.2019.] Pieejams: https://likumi.lv/ta/id/301436-dokumentu-izstradasanas-un-noformesanas-kartiba

Periodicals and other sources

1. Bilance: žurnāls par grāmatvedību, likumdošanu un finansēm. Rīga: SIA Lietišķās informācijas dienests, 2000. ISSN 1407-5709
2. iFinanses – žurnāls par nodokļiem, grāmatvedību, darba un komerctiesībām. Rīga: iŽurnāli. ISSN 2255-985x Pieejams: http://ifinanses.lv
3. LR tiesību aktu mājas lapa. Pieejams: http:// www.likumi.lv

4. VID mājas lapa. Pieejams: http://www.vid.gov.lv

Notes

Compulsory course for the academic Bachelor’s study programme “Economics” of the Faculty of Economics and Social Development.