Public University of Navarre



Academic year: 2015/2016 | Previous academic years:  2014/2015  |  2013/2014  |  2012/2013  |  2011/2012 
International Double Bachelor's degree in Economics, Management and Business Administration at the Universidad Pública de Navarra
Course code: 176201 Subject title: FINANCIAL ACCOUNTING I
Credits: 6 Type of subject: Basic Year: 1 Period: 2º S
Department: Business Administration
Lecturers:
LIZARRAGA DALLO, FERMÍN (Resp)   [Mentoring ]

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Module/Subject matter

EXTERNAL ACCOUNTING

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Contents

The main goal of this course is to introduce students to accounting in a way that demonstrates the importance of accounting to society and its relevance to their future careers. Now more than ever, students must be knowledgeable about the current environment of accounting where strong forces are in place to achieve a global set of international financial reporting standards (IFRS). All business professionals need to understand financial statements and use accounting information. This course:

  • Demonstrates the accounting model and the methods of compiling and presenting financial information.
  • Describes the structure of financial accounting including the recognition, measurement and communication of economic events.
  • Performs the elementary tasks in the accounting cycle that include journalizing, posting to the ledger, accruals and other adjustments, closing of the books and drawing up trial balances.
  • Compiles the four basic financial statements from the accounting records: statement of financial position, income statement, statement of retained earnings and statement of cash flows.
  • Makes an understanding of the role played by the IASB in the global harmonization of accounting standards.

With the knowledge gained in this course the student will be taking a first step in the process that will provide the skills to prepared, interpret and analyze real-world financial statements.

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Descriptors

Financial information, decision making, accounting model.

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General proficiencies

GP01  A capacity for analysis and synthesis

GP03  Oral and written communication in their mother tongue

GP06  The ability to search for and analyse information from different sources

GP12  Interpersonal skills

GP15  An ethical approach to work

GP17  A capacity for self-reliant learning

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Specific proficiencies

EP02  To identify sources of economic information relevant to their particular enterprise and their contents

EP03  To discern information and data relevant to their particular enterprise which a non-professional would be unable to recognise

EP04  To analyse business management problems, applying professional criteria based on the use of technical instruments

EP07  To assess the situation and foreseeable development of a company on the basis of the relevant records

EP16  To design accounting systems and produce internal and external accounting reports

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Learning outcomes

LO03. Basic theory for decision makingFundamentos teóricos de la toma de decisiones

LO05. Basic background in accounting theory

LO09. Analysis of the financial position and net results of a company, flow of funds and cost determination.

LO11. Alternative investment projects, porfolio analysis, financial structure: cost of capital, profitability-risk analysis

LO14. Management support through the design and implementation of different information systems.

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Methodology

The course is organized around two 100-minute sessions per week: a lecture and a lab session. Power point and other material used will be taken mostly from the textbook website. For each session there will be assigned readings and problems from the book. Active student involvement in the learning process is encouraged. In order to participate, students will have to be prepared. It is virtually impossible to do well in this class without devoting a considerable amount of time to reading in advance and solving homework assignments. Regular attendance and active participation are expected. Groups of 2 and 4 students will be organized for the different activities and presentations.
Six office hours will be available each week. A MiAulario web course will also be available which will contain copies of course materials (the course outline, lecture power point notes and solutions for some of the cases) and other accounting-related information. You can communicate with the lecturer and your classmates using the communication functions of the web course.
Students are expected to do different kinds of work for this course. The learning activities and the total number of hours students should devote to each task are provided in the following table:

Learning activities Hours (Classroom) Hours (Out of classroom)
A-1 Presentations 27  
A-2 Lab sessions 28  
A-3 Office hours for Group cases   13
A-4 Team work   20
A-5 Advanced reading for presentations   20
A-6 Studying and preparing lab sessions   30
A-7 Exams 5  
A-8 Office hours (individual)   2
Total 60 90

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Evaluation

Continuous assessment: 30%. Exams: 70%. Only the exams part will be considered recoverable.

Additionally, the following minimum requirements will be applied:

Final exam: for attendance, none. To pass the course, minimum qualification = 4 out of 10 (2.8 if out of 7).

Recovery exam: for attendance, the student must have previously "tried without success". This means a minimum qualification of 1 out of 3 in the continuous assessment. To pass the course, same requirement as for the final exam. A more detailed version of activities-competences is the following:

* Participation and discussion in lectures and lab sessions 10%

* Team presentations and case assignments 20%

* Exams 70%

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Agenda

Unit 1. Accounting in action

Unit 2. The recording process

Unit 3. Adjusting the accounts

Unit 4. Completing the accounting cycle

Unit 5. Accounting for merchandising operations

Unit 6. Inventories

Unit 7. Accounting for receivables

Unit 8. Payroll accounting

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Bibliography

Access the bibliography that your professor has requested from the Library.


Weygandt, Jerry J., Paul D. Kimmel and Donald E. Kieso (2013). Financial accounting. IFRS Edition. Wiley (ISBN 978-0-470-55200-1)

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Languages

English.

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Location

Aulario UPNA. Campus Arrosadía. Pamplona.

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