Course code Ekon3111

Credit points 4

Financial Accounting

Total Hours in Course160

Number of hours for lectures16

Number of hours for seminars and practical classes48

Independent study hours96

Date of course confirmation22.05.2019

Responsible UnitInstitute of Finance and Accounting

Course developer

author Finanšu un grāmatvedības institūts

Baiba Mistre

Mg. oec.

Prior knowledge

Ekon1024, Microeconomics

Ekon2079, Simple-entry Accounting

Ekon2081, Finance and Credit

Ekon2135, Tax Accounting

Replaced course

Ekon3069 [GEKO3069] Financial Accounting

Course abstract

The course deals with the theoretical basics and methodology of accounting and develops skills in performing practical tasks in accounting. Students learn the basic principles of preparing a financial statement for an enterprise and build up skills in assessing the financial condition and economic performance of the enterprise that is necessary for making decisions on controlling, planning and managing processes at the enterprise.

Learning outcomes and their assessment

1. Students will be able to: demonstrate the knowledge and understanding of the substance and role of accounting and the classification of assets and sources of finance – Independent work, discussions in classes.
2. Demonstrate the knowledge and understanding of the structure of a balance sheet, changes in balance sheet items and how to keep records of transactions – Test.
3. Demonstrate the knowledge and understanding of how to account for long-term investments and current assets – Test.
4. Demonstrate the knowledge and understanding of how to account for equity capital and accounts payable – Test.
5. Independently apply the relevant theory and legal framework to organise an accounting process – Practical assignments.
6. Reasonably explain and discuss accounting items and how to report them in a financial statement – Discussions in classes.
7. Independently prepare and make entries in the most frequently used documents and aggregate data in accounting registers – Test.
8. Responsibly plan the completion of the assignments given – Practical assignments.
9. Independently acquire, select and analyse necessary information and use it in performing accounting assignments – Practical assignments.
10. Aggregate and assess accounting data and make economically feasible decisions – Tests, practical assignments.

11. Independently prepare a financial statement and use it to assess the financial condition of an enterp

Course Content(Calendar)

1. Accounting, its role, tasks and requirements (lecture – 1 hour, practical - 1 hour)
2. Subject and method of accounting (lecture – 1 hour, practical –2 hours)
3. Accounting balance sheet (lecture – 1 hour, practical – 4 hours)
4. Accounting Accounts and Accounting of Business Transactions in Accounts (lecture – 1 hour, practical – 6 hours)
5. Accounting documents and registers (lecture – 1 hour, practical – 5 hours)
Test 1: Classification of assets and resources, accounting balance sheet, Accounting accounts and double entry (1 hour)
6. Financial accounting organization (lecture – 1 hour)
7. Long-term investment accounting (lecture – 1 hour, practical – 4 hours)
8. Stock accounting (lecture – 1 hour, practical – 3 hours)
9. Accounting for receivables (lecture – 1 hour, practical – 3 hours)
10. Next period costs (practical – 1 hour)
11. Accounting for short - term financial investments (lecture – 1 hour)
12. Cash accounting (lecture – 1 hour, practical –2 hours)
13. Equity accounting. Provisions (lecture – 1 hour)
14.Accounting for liabilities (lecture – 1 hour, practical – 2 hours)
Test 2: Accounting of long-term and current assets (1 hour)
15. Accounting of work, wages and operations related to their accounting. (lecture – 1 hour, practical – 6 hours)
16. Accounting of Company's revenue (practical – 2 hours)
17. Accounting of costs (practical – 2 hours)
18. Accountig of Financial results (lecture – 1 hour, praktiskie darbi – 2 hours)
19. Inventory (lecture 1 – hour)

20. Annual statement (lecture –1 hour, practical – 1 hour)
Test 3: Accounting of wages, revenue and costs, profit or loss (2 hours)

Requirements for awarding credit points

Examination (written) - 40%
The exam consists of a test, questions about all the topics and tasks.
Three tests with calculations – 60%

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

The evaluation of the study course depends on the assessment of the tests and exam - 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.
2. Leibus I., Pētersone I., Jesemčika A., Svarinska A., Grigorjeva R. Finanšu grāmatvedība. Rīga: Lietišķās informācijas dienests, 2018. 320 lpp.
3. Bojarenko J., Beļavska L., Tjurina A. Finanšu grāmatvedība: teorija un prakse. I daļa. Rīga: KIF Biznesa komplekss, 2009. 268 lpp.
4. Beļavska L. Grāmatvedības pamati atbilstoši starptautiskajiem un nacionālajiem standartiem: Mācību līdzeklis. Rīga: SIA KIF Biznesa Komplekss, 2007. 248 lpp.
5. Ludboržs A. Pamatlīdzekļu uzskaite. Rīga: SIA „LID”, 2006. 255 lpp.

6. Tīse L. Grāmatvedība: Mācību līdzeklis. Rīga: RTU izdevniecība, 2010. 87 lpp.

Further reading

1. Par grāmatvedību: LR likums [tiešsaiste]. Pieņemts: 14.10.1992. Stājas spēkā 01.01.1993. ar grozījumiem [skatīts 12.12.2019.]. Pieejams:
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:
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:
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:
5. Kases operāciju uzskaites noteikumi: MK noteikumi Nr. 584 [tiešsaiste] Pieņemts: 04.09.2018. Stājas spēkā 29.10.2003. ar grozījumiem [skatīts 12.12.2019.]. Pieejams:
6. Apsīte I. Pamatlīdzekļu uzskaite komercuzņēmumos. Rīga: Lietišķās apmācības centrs, 2010. 266 lpp.

7. Ludboržs A. Finanšu grāmatvedība tirdzniecībā. Rīga: Lietišķas informācijas dienests, 2003. 282 lpp.

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:
3. LR tiesību aktu mājas lapa. Pieejams: http://
4. VID mājas lapa. Pieejams:


Field professional specialization course for the ESAF professional Bachelor programme Entrepreneurship and Business Management (part B3)