Basics of Financial Accounting

Contents

• Introduction to accounting
  • Inventory and balance sheet
  • Business transactions not affecting and affecting profit and loss
• Accounting principles and book-keeping techniques
  • Goods traffic
  • Value-added tax
  • Acquisition costs
  • Revenues and payment transactions
  • Amortization of fixed and current assets
  • Accruals and deferrals
  • Provisions
• Production costs and income statement

Learning outcomes
The students acquire well-founded knowledge of accounting and accounting techniques, as well as a fundamental understanding of the principles of orderly book-keeping (GoB).
Based on relevant business transactions, the double entry book-keeping system is presented and applied to concrete applications in practice. Students can individually book business transactions as well as apply the necessary techniques to both open and close the respective accounts.
Within the exercise and tutorial classes, students look more deeply into the topics covered in the lecture.

Necessary prerequisites
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Recommended prerequisites
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Examiner

Prof. Dr. Philipp Dörrenberg Prof. Dr. Felix W. Vetter