Financial Accounting II

Total Hours in Course120

Number of hours for lectures18

Number of hours for seminars and practical classes18

Independent study hours84

Date of course confirmation29.10.2018

Responsible UnitInstitute of Economics and Finance

Course developer

lect.

Ingrīda Pētersone

Mg. oec.

Prior knowledge

Ekon5082, Financial Accounting I

Course abstract

Students acquire a profound knowledge of theoretical, methodological and practical issues of individual accounting objects. The skills are obtained by studying opinions of different authors, legal and regulatory enactments on the particular aspects.

Learning outcomes and their assessment

1. Demonstrate an in-depth understanding of the classification, initial recognition, recording and valuation of long-term investments for a financial statement - Discussions in classes, practical assignments, an examination
2. Demonstrate an in-depth understanding of the classification, initial recognition, recording and valuation of current assets for a financial statement - Discussions in classes, practical assignments, an examination
3. Demonstrate an in-depth understanding of the classification, initial recognition, recording and valuation of equity capital for a financial statement - Discussions in classes, a test with calculations
4. Demonstrate an in-depth understanding of the classification, initial recognition, recording and valuation of creditors’ claims for a financial statement - Discussions in classes, practical assignments, an examination
5. Demonstrate an in-depth knowledge and understanding of accounting for financial-statement items - Independent work, discussions in classes
6. Independently assess complicated economic transactions and record them according to their economic nature - Practical assignments, an examination
7. Reasonably explain and discuss important financial accounting-related matters - Discussions in classes
8. Calculate the values of balance sheet items as well as profits or losses - Examination
9. Independently acquire necessary information for a description of accounting policy requirements for a financial statement item - Independent work
10. Responsibly plan the completion of the assignments given - Independent work
11. Participate in planning and setting goals - Practical assignments
12. Develop social interaction, cooperation and organisational skills needed for employment - Discussions in classes
13. Present the results of calculations performed - Practical assignments
14. Independently design an accounting system for an enterprise - Independent work
15. Independently define and critically analyse complicated accounting problems and integrate the knowledge of other areas of economics - Discussions in classes, an examination
16. Justify decisions and, if necessary, perform an additional analysis - Practical assignments, an examination

17. Understand complicated situations in accounting and come up with a solution - Examination

Course Content(Calendar)

1. Types of intangible investments, their accounting, valuation (lecture 1 hour, practical work 1 hour)
2. Presentation of intangible assets in financial statements. (lecture 1 hour, practical work 1 hour)
3. Types of fixed assets, their accounting, valuation (lecture 1 hour, practical work 1 hour)
4. Recognition of property, plant and equipment in the financial statements. (lecture 1 hour, practical work 1 hour)
5. Valuation methods of fixed assets. (lecture 1 hour, practical work 1 hour)
6. Long-term investment revaluation reserve accounting (lecture 1 hour, practical work 1 hour)
7. Accounting of long-term financial investments (lecture 1 hour, practical work 1 hour)
8. Inventory accounting methods, evaluation (lecture 1 hour, practical work 1 hour)
9. Presentation of inventories in financial statements (lecture 1 hour, practical work 1 hour)
10. Types of debtors, their accounting (lecture 1 hour, practical work 1 hour)
11. Provisions for doubtful accounts receivable, bad debts (lecture 1 hour, practical work 1 hour)
12. Presentation of debtors in financial statements (lecture 1 hour, practical work 1 hour)
13. Equity accounting and presentation in financial statements (lecture 1 hour, practical work 1 hour)
14. Accrual accounting and recognition in the financial statements. (lecture 1 hour, practical work 1 hour)
15. Contingent liabilities and contingent assets. (lecture 1 hour, practical work 1 hour)
16. Types of liabilities, their accounting and presentation in financial statements (lecture 1 hour, practical work1 hour)
17. Recognition and Presentation of Grants, Grants and Gifts in Financial Statements (lecture 1 hour, practical work 1 hour)

18. Preparation of Cash Flow Statement (lecture 1 hour, practical work 1 hour)

Requirements for awarding credit points

During the course the student should take part in solving practical tasks and participate in discussion on financial accounting topics.
During the study course one has to develop independent work on accounting of the financial statement item in the company and present it during the lessons. The student's independent work should be reviewed and the discussion should take place.
At the end of the course, you must pass an examination of the recording of complex business transactions according to the economic nature of the topics covered by the course.

Description of the organization and tasks of students’ independent work

To master and strengthen theory questions by studying literature and solving complex tasks. Prepare for the exam and prepare for independent work. Carry out practical work on financial accounting topics.

Criteria for Evaluating Learning Outcomes

1. Practical works, discussion on the topics covered in the course. Valuation and recording of complex business transactions. Classification, initial recognition, accounting and measurement of balance sheet items in the financial statements. and practical tasks - 10 %
2. Individual work, discussion in class (presentation) on accounting of selected financial statement item in the company - 30 %
3. Examination on the topics included in the study course. Evaluation and recording of complex economic transactions according to their economic nature - 60 %
Practical work, independent work and examination are evaluated according to the pre-defined assessment procedure.
The overall assessment of the course depends on the assessment of practical work, discussions, individual work, presentation of independent work and examination.
10 % are equal to one point on a 10-point marking scale.

Compulsory reading

1. Leibus I., Pētersone I., Jesemčika A., Svarinska A., Grigorjeva R. Finanšu grāmatvedība. Rīga: Lietišķās informācijas dienests, 2018. 320 lpp.
2. Elliot B., Elliot J Financial Accounting, Reporting and Analysis: International Edition. London: Prentice Hall, 2006. 696 p
3. Bojarenko J., Beļavska L., Tjurina A. Finanšu grāmatvedība: teorija un prakse. I daļa. Rīga: KIF Biznesa komplekss, 2009. 268 lpp. (Grāmatvedības un finanšu koledžas bibliotēka)
4. Bojarenko J., Tjurina A., Ķūda M., Pokromoviča I., Jespere I. Finanšu grāmatvedība: teorija un prakse. II daļa. Rīga: KIF Biznesa komplekss, 2009. 292 lpp. (Grāmatvedības un finanšu koledžas bibliotēka)
5. Kusins J., Zariņa V., Gada pārskats un iepriekšējo periodu kļūdas. Palīglīdzeklis grāmatvežiem. Rīga: Biznesa augstskola Turība, 2016. 352 lpp.
6. Jaunzeme J., Starptautiskie finanšu pārskatu standarti: standartu apkopojums un pielietojuma piemēri. Rīga: Lietišķās informācijas dienests, 2016. 256 lpp
7. Ludboržs A. Pamatlīdzekļu uzskaite. Rīga: Lietišķās informācijas dienests, 2006. 255 lpp. (Bilances Bibliotēka)

8. Kelmere L. Kapitālsabiedrības likvidācijas process un finanšu pārskatu sagatavošana. Rīga: LU Akadēmiskais apgāds, 2017. 168 lpp.

Periodicals and other sources

1. Bilance: elektroniskais žurnāls. Rīga: Lietišķās informācijas dienests, 2005-. ISSN 1407-5709 grāmatvedība, likumdošana, finanses: žurnāls par grāmatvedību, likumdošanu un finansēm. Pieejams: https://www.plz.lv/1228/
2. IFinanses. Rīga: Izdevniecība iŽurnāli. ISSN 2255-985X
Elektroniskais žurnāls pieejams: http://ifinanses.lv/raksti/gramatvediba
3. Laikraksts „Diena”,
4. Laikraksts „Dienas Bizness”
5. Žurnāls „Latvijas Ekonomists”. ISSN 1025-8922.
6. Žurnāls „Kapitāls”. ISSN 1407-2505
7. Ekonomikas ministrija http://www.em.gov.lv

8. Finanšu ministrija http://www.fm.gov.lv

Notes

Restricted elective course in ESAF Academic Master's Degree Programme in Economics with specialization in Financial Management and Accounting

Atsauksmes