ACC 303: Financial Accounting: Annual and consolidated financial statements
Contents
- Introduction to financial accounting
- Overview on accounting theories
- Definition of assets, liabilities, revenues and expenses
- Recognition and measurement rules
- Fundamentals of group accounting
Learning outcomes
Students will acquire specific knowledge in the areas of financial accounting and group accounting. In addition, they are able to critically assess the definition of assets, liabilities, revenues and expenses as well as the rules for recognition and measurement within the context of different accounting theories.
During exercise classes, tutorials and the team competition, this knowledge is applied to specific practical situations while considering and scrutinizing various aspects and points of view. Moreover, students need to assess the effects of different decision alternatives on the various stakeholders of a business (e.g. shareholders, managers, government, etc.) in order to develop appropriate strategies and action plans. The results of these considerations are presented in written form. This requires a clear understanding and analysis of the respective problem sets. Results need to be presented convincingly in a structured and comprehensible manner. Teamwork and leadership are further objectives of the course, as students form groups during the team competition.
Necessary prerequisites
semester 3 or higher
Recommended prerequisites
–
| Forms of teaching and learning | Contact hours | Independent study time |
|---|---|---|
| Lecture | 2 SWS | 5 SWS |
| Exercise class | 2 SWS | 4 SWS |
| Tutorial | 1 SWS | 3 SWS |
| ECTS credits | 6 |
| Graded | yes |
| Workload | 180h |
| Language | German |
| Form of assessment | Written exam (90 min) |
| Restricted admission | no |
| Further information | – |
Examiner Performing lecturer |  | Prof. Dr. Jens Wüstemann Prof. Dr. Jens Wüstemann |
| Frequency of offering | Fall semester |
| Duration of module | 1 semester |
| Range of application | B.Sc. Bus. Adm. |
| Preliminary course work | – |
| Program-specific Competency Goals | CG 1, CG 2, CG 4 |
| Literature |
|
| Course outline | A. Introduction to financial accounting § 1. Purpose and determination of German GAAP B. Recognition criteria § 2. Assets § 3. Revenue recognition § 4. Liabilities § 5. Accruals and deferrals C. Measurement criteria § 6. Acquisition and production costs § 7. Liabilities § 8. Depreciation § 9. Impairment D. Consolidated accounting § 10. Definition of parent and subsidiary § 11. Fundamentals of group accounting § 12. Classification and disclosure requirements § 13. Management discussion and analysis (MD&A) |