Accounting is part of the information system of economic entities, and is used to reduce uncertainty in decision making. It provides information on the economic and financial situation of an entity, the economic resources employed and the sources of those resources, as well as the effects of transactions and other events on those resources.



The main objective of the Introduction to Accounting course is to present the conceptual and technical elements of accounting as an area of study and professional area. The basic elements of the business information model in the economic-financial field and the and the basic financial reports, i.e., the annual accounts.



For students of the Bachelor's Degree in Business Administration (and its double degrees with Law or Economics), Bachelor's Degree in Taxation and Public Administration, and Bachelor's Degree in Marketing it is the starting point for the knowledge of the financial accounting system, in such a way that the knowledge and competencies achieved in it will be the basis on which other subjects in the accounting field will be developed, such as Financial Accounting, Cost Accounting, and Financial Accounting, Cost Accounting, and Accounting Analysis, all of them core subjects. The concepts and approaches of analysis learnt will be essential to be able to have an adequate curricular development in the following years. For students of the Bachelor's Degree in Business Administration and Management, there is the possibility of opting for the specialty called Accounting Management and Financial Information in the third year.



For students of the Bachelor's Degree in Economics, the subject of Introduction to Accounting, together with the subject of Financial Accounting in the second semester of the first year, involves addressing the basic knowledge and competencies that every economist should have in the field of accounting and financial information.

Analysis of the accounting model and economic information. The General Accounting Plan and accounting techniques related to the company's situation and results, and to the flow of funds in a period. Obtaining and formulation of the Annual Accounts.



COURSE OBJECTIVES



1. To analyze the accounting model and financial information

2. Learn accounting bookkeeping in order to present the situation, results of the company and the financial flows in a period.

3. Models of annual accounts: how to obtain and prepare them

4. Measurement and bookkeeping of basic transactions related to the short business cycle.



SPECIFIC COMPETENCES OF THE SUBJECT



At the end of the teaching-learning process the student:

1. Be familiar with the basic financial reporting models used by users to make business-related decisions.

2. Will be able to handle the main instruments for recording information, and organize the accounting process to obtain financial statements.

3. Understand the basic concepts of the accounting model, as well as its elementary tools.

4. Will be able to measure and record the basic operations of the short business cycle.



GENERIC COMPETENCES FROM MÓDULOEM01- BASIC SUBJECTS



* (M01CM01) DEVELOP LEARNING ABILITIES IN ORDER TO REACH A HIGH AUTONOMY LEVEL FOR NEXT STUDIES AS WELL AS FOR SELF TRAINING IN A CHANGING AND INNOVATIVE CONTEXT

* (M01CM04) TO KNOW HOW TO LOOK FOR, IDENTIFY, ANALYZE AND SUMMARIZE INFORMATION FROM SEVERAL RESOURCES WITH A CRITICAL PERSPECTIVE, IN ORDER TO ASSESS A COMPANY’S CURRENT SITUATION AND ITS POSSIBLE FUTURE EVOLUTION AND TO ISSUE JUDGEMENTS AND TAKE DECISIONS ABOUT RELEVANT BUSINESS, SOCIAL AND ETHICAL ISSUES.

* (M01CM05) USE OF TICS IN A LEARNING AND PROFESSIONAL CONTEXT.

* (M01CM06) ABILITY TO COMMUNICATE IN AN ORAL AND WRITING WAY.

* (M01CM07) ABILITY TO TEAM WORKING, WITH RESPONSIBILITY AND RESPECT, INITIATIVE AND LEADERSHIP.

SYLLABUS



I. FUNDAMENTAL ACCOUNTING



CHAPTER 1. ECONOMIC ACTIVITY. ACCOUNTING AND BUSINESS ENVIRONMENT

1. Economic activity

2. Accounting as an information system

3. Definition of Accounting



CHAPTER 2. ANNUAL ACCOUNTS: THE BALANCE SHEET

1. Equity

2. Representation of the economic-financial structure: the Balance Sheet.



CHAPTER 3. ANNUAL ACCOUNT: THE INCOME STATEMENT

1. The profit and loss for the period, an indicator of business efficiency

2. Recognition of expenses and incomes

3. Representation of the profit and loss for the period: the Income Statement.



CHAPTER 4. OTHER DOCUMENTS THAT MAKE UP THE ANNUAL ACCOUNTS AND OTHER CORPORATE REPORTING DOCUMENTS

1. The Statement of Changes in Equity

2. The Statement of Cash Flows

3. The Notes

4. The Statement of Non-Financial Information



CHAPTER 5. ACCOUNTING BOOKKEPING: T-ACCOUNT

1. The Account as an instrument of representation

2. Classification of the accounts



CHAPTER 6. ACCOUNTING CYCLE

1. The opening of the accounts and the recording of the transactions of the period.

2. The accounting cycle: recording of transactions, regularization process and closing of the period.

3. The preparation of the annual accounts.



II. ACCOUNTING REGULATION



CHAPTER 7. ACCOUNTING REGULATION SYSTEMS

1. International accounting standardization

2. Spanish regulatory framework. The General Accounting Plan



III. ACCOUNTING FOR SHORT BUSINESS CYCLE



CHAPTER 8. ACCOUNTING FOR TAXES

1. Introduction. The role of VAT in business transactions

2. Accounting registration of transactions subject to VAT.

3. VAT Settlement.



CHAPTER 9. PROCUREMENT, PRODUCTION AND DISTRIBUTION.

1. Concept and types of inventories.

2. Inventory recording methods.

3. Recognition and measurement of inventory transactions.

4. Value adjustments of inventories.



CHAPTER 10. TRADE AND OTHER RECEIVABLES

1. Trade receivables and the formalization of trade credit

2. Accounting treatment of uncertainty



CHAPTER 11. ACCOUNTING FOR HUMAN RESOURCES

1. Personnel expenses

2. Other personnel expenses: Employee welfare expenses



CHAPTER 12. PREPAYMENTS FOR CURRENT ASSETS AND CURRENT ACCRUALS

1. Introduction. Cash flow and economic flow.

2. Adjustments due to traffic transactions.

3. Adjustments due to financial transactions.

Master classes and exercises, reports, and practical work.

A progressive and continuous learning process by the students implies that students must attend class regularly, as themes presented in class will differ from those written texts available to them.

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 70
  • Realization of Practical Work (exercises, cases or problems) (%): 30

The continuous assessment system is the one to be used preferably at the UPV/EHU.



The educational system implemented is therefore based on a continuous and progressive learning of the student, an aspect that confirms the importance of regular attendance to classes, in which questions that do not usually appear in texts and manuals are also exposed, enriching and complementing them.



Likewise, by carrying out the work (individually or in groups), the student puts into practice the notions and contents that are being assimilated, faces the same difficulties that professionals encounter in their task (solving dilemmas to develop their activity), and gains the ability to communicate rigorously to third parties the main aspects detected in the process of preparing the economic and financial information of a company.



ASSESSMENT:



Learning will be assessed by means of exams and follow-up tasks or tests (practicals, tasks, exhibitions, readings...). The weight of each of the activities in the final grade is as follows: 70% by written exam/s, and 30% with tasks or follow-up tests.



The assignments will be done as the course develops, and will be presented on dates to be determined and communicated by the faculty responsible.



The Management Regulations for Degree courses:



Article 12.- Waiver of the call.

1.- The waiver of the exam will mean the grade of absent (non-shown).

2- In the case of continuous assessment, if the weight of the final test is greater than 40% of the grade of the subject, it will be enough not to present the final test for the final grade to be not presented. Otherwise, if the weight of the final test is equal to or less than 40% of the grade of the subject, the student may waive the call within a period that, at least, will be up to one month before the end date of the teaching period of the corresponding subject. This waiver must be submitted in writing to the faculty responsible for the subject.

3.- In the case of a final assessment, failure to take the test set on the official examination date will result in the automatic waiver of the corresponding exam.

Extraordinary Sitting: The exam will represent the 100% of the grade.

In order to carry out the project and develop the course, the following resources will be available:

Theoretical material and practical exercises developed by the lecturers, through which students will understand the basic concepts of accounting and will solve during the course the proposed assumptions for the correct understanding of the various topics.

Basic bibliography. Several books that are available in the library of the Faculty and that are interesting for the development of the subject on the student’s own.

The General Accounting Plan. Basic document available in the web site of the Instituto de Contabilidad y Auditoría de Cuentas in the link http://www.icac.meh.es/seccion.aspx?hid=34

Basic bibliography

TEXT BOOK REFERENCES



Camacho-Miñano (Coordinator). BEYOND FIGURES. INTRODUCTION TO FINANCIAL ACCOUNTING. Editorial Pirámide.



Muñoz Merchante, Ángel.INTRODUCCIÓN A LA CONTABILIDAD. Ediciones Académicas / UNED



Muñoz Merchante, Ángel. PRÁCTICAS DE INTRODUCCIÓN A LA CONTABILIDAD. Ediciones Académicas / UNED



Wanden-Berghe, J.L., Fernández, E. INTRODUCCIÓN A LA CONTABILIDAD. Editorial Pirámide.

In-depth bibliography

Arquero, J.L., et al. INTRODUCCIÓN A LA CONTABILIDAD FINANCIERA. Ediciones Pirámide.

Fernández-Cuesta,C. & Gutiérrez López, C. INTRODUCCIÓN A LA CONTABILIDAD FINANCIERA. Adaptado a la
pequeña y mediana empresa. Ediciones Pirámide.

Socías, A. et al. CONTABILIDAD FINANCIERA. EL PGC. SUPUESTOS. Ediciones Pirámide.

Monger, R. FINANCIAL ACCOUNTING. Wiley.

Weygandt, Kimmel and Kieso. FINANCIAL ACCOUNTING. IFRS EDITION. Wiley.

Journals

Academic or professional journals can be used throughout the course to develop a specific topic of interest.

Web addresses

SPANISH GENERAL ACCOUNTING PLAN

http://www.icac.meh.es/

COMPLEMENTARY REFERENCES

COMISIÓN EUROPEA-MERCADO INTERIOR: http://europa.eu.int/comm/internal_market/accounting/index_en.htm

COMISIÓN NACIONAL DEL MERCADO DE VALORES (CNMV): http://www.cnmv.es/index.htm

INSTITUTO DE CONTABILIDAD Y AUDITORÍA DE CUENTAS: http://www.icac.meh.es/

BANCO DE ESPAÑA, http://www.bde.es

DIARIO CINCO DIAS, http://www.cincodias.com/

IAS PLUS, http://www.iasplus.com/index.htm