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Bioeconomic and Accounting

Course developers

Prior knowledge

Mate1035, Mathematics II

Mate4016, Mathematics I

Course abstract

The course is designed to provide students with knowledge of and practical skills in the latest trends in the bioeconomy in the world, particularly in Europe and Latvia. The course places a special focus on forestry as well as deals with other industries using biotechnologies to produce natural, high-quality and innovative bioproducts.
The course gives basic knowledge of the accounting system in Latvia and the areas, principles and methods of accounting. The course also deals with accounting items and provides knowledge of organizing the accounting process and keeping records in the double entry system and of the content of an annual accounting statement.

Learning outcomes and their assessment

Students will be able to demonstrate: Knowledge of a new paradigm for economic development in the EU and Latvia and an understanding of necessity for sustainable production (2 tests). Skills to define resource uses and the kinds of resource value as well as to calculate the value of ecosystem services and analyse bioeconomic aspects in sustainability context (2 tests; independent work, seminars). Competences to define attitude to the bioeconomy and its elements and the effects on the student’s life and professional development (seminars, independent work).

Course Content(Calendar)

1. Concept and role of bioeconomics.
2. Evolution of the idea of bioeconomics.
3. Ecosystem services.
4. Ecosystem assessment methods.
5. Resource taxonomy.
6. Renewable resource exploitation.
7. Biotechnologies in forestry. The role of innovation in forest use.
8. Development of the bioeconomy of Latvia in the context of EU policies.
9. Introduction to accounting. The meaning of and requirements for accounting. The essence and tasks of accounting.
10. Subject and methods of accounting. Accounting items. Elements of the accounting method.
11. Concept and structure of a balance sheet. Changes in balance sheet items.
12. Concept of accounts and their general construction. Balance sheet account structure. Operation account structure.
13. Concept and meaning of a document. Requirements for documents.
14. Organization of the accounting process at a company. Accounting for long-term investments.
15. End of the year: an annual report, a balance sheet and a cash flow statement.
16. Drawing up, approval and submission of an annual report. Test.

Requirements for awarding credit points

Bioeconomics
The student has: to pass 2 tests (Concept, role and evolution of bioeconomics; resource taxonomy and sustainable resource use) and submit independent work (Forest bioeconomics).
Accounting
Cumulative assessment is made up of: 1) two tests successfully completed during the semester: the accounting balance sheet and its structure; accounts and entering economic operations in an account; 2) practical assignments performed. If the test has not been credited, rewriting the test will be permitted once, in writing, for theoretical issues learned and practical assignments done during the semester.

Description of the organization and tasks of students’ independent work

Bioeconomics
In the independent work, the student has to assess some bioeconomic phenomenon or problem, describing it according to a plan (familiarised with in advance) and present it (usually in PowerPoint) to the other students, which ends with questions and discussions.
Accounting
The student must to do compulsory reading –regulatory literature on accounting – throughout the semester and prepare for tests. The student has be able to explain and interpret complex technical accounting data and learn to register economic transactions in an account, make a profit or loss account, calculate net profit and report it on the balance sheet.

Criteria for Evaluating Learning Outcomes

Bioeconomics
A test is passed if at least 40% of the questions are answered correctly. The maximum score is given if all the questions, including the analytical one, are answered correctly.
The independent work is assessed according to the extent the student can use his/her knowledge, do an analysis of matters and draw conclusions.
Accounting. Assessment weights, %: two tests (25% + 30%) and activity in practical classes (45%). The final mark is based on a cumulative score (100%).

Compulsory reading

1. Tietenberg T., Lewis L. Environmental & Natural Resource Economics. Ninth edition. Pearson, 2012. 666 p.
2. Atstāja Dz., Dimante Dž., Brīvers I. u.c. Vide un ekonomika. Monogrāfija. Rīga: LU, 2011. 256 lpp.
3. Kļaviņa M., Zaļoksnis J. Redakcijā - autoru kolektīvs. Vide un ilgtspējīga attīstība. Rīga: LU akadēmiskais apgāds, 2010. 334. Lpp
4.Kelmere L. Ievads grāmatvedībā jeb Grāmatvedības pamati: teorija un uzdevumi. Rīga: Lietišķās informācijas dienests, 2020. 255 lpp.
5. Leibus I., Pētersone I., Jesemčika A., Svarinska A., Grigorjeva R. Finanšu grāmatvedība. Mācību grāmata. Rīga: 2018. 320 lpp.
6. Par grāmatvedību: LR likums. Likums "Par grāmatvedību" [tiešsaiste]. Pieņemts 14.10.1992. Stājas spēkā 01.01.1993. Ar grozījumiem. [Skatīts 9.11.2018.]. Pieejams: http://www.likumi.lv/doc.php?id=66460
7. Gada pārskatu un konsolidēto gada pārskatu likums: LR likums. LR Normatīvie dokumenti: www.likumi.lv.

Further reading

1. Blumbergas A., redakcijā - autoru kolektīvs. Sistēmdinamika vides inženierzinātņu studentiem. Rīga. RTU Vides aizsardzības un siltuma sistēmu institūts, 2010. 318.lpp 2. Pelše M., Naglis-Liepa K., Strīķis V., Leikučs J. Atjaunojamās enerģijas izmantošanas ekonomiskais izvērtējums ilgtspējīgas attīstības kontekstā. LLU. Jelgava, 2012. 85 lpp. 3. AS "Latvijas Valsts meži" normatīvie akti. 4. Saliņš Z. Mežs - Latvijas nacionālā bagātība. Jelgava, 2002. 248 lpp 5. Ludboržs A. Finanšu grāmatvedība tirdzniecībā. Lietišķās informācijas dienests. Rīga, 2003. 282 lpp. 6. Mālderis G. Revīzija, audits un grāmatvedība. 3. papild.izdev. un CD formāta normatīvie dokumenti. Rīga: Lietišķās Apmācības Centrs, 2008. 136 lpp. 7. Rurāne M. Uzņēmuma finanses. Rīga: Apgāds Jumava Turība, 2007. 254 lpp. 8. Apinis R. Grāmatvedības organizācija un grāmatvedības tiesu ekspertīze. Biznesa augstskola Turība. Rīga, 2000. 117 lpp. 9. Januška M. Finanšu un grāmatvedības kontrole firmā. Rīga: Merkūrijs LAT, 2003. 144 lpp.

Periodicals and other sources

1. Bilance: grāmatvedība, likumdošana, finanses: žurnāls par grāmatvedību, likumdošanu un finansēm. Rīga: Lietišķās informācijas dienests. ISSN 1407-5709 2. Latvijas Ekonomists. Rīga, Mamuts. ISSN 1025-8922 3. Laikraksts Latvijas Vēstnesis. Latvijas Republikas oficiālais laikraksts. ISSN 1407-5709

Notes

General study course (Part B1) for the Forest Faculty’s professional higher education programme Wood Processing for full and part-time studies.