Course aims:

- Assimilating the theoretical concept on the role and utility of financial accounting, the operation of accounts, financial reporting;
- acquiring skills so as to use correctly the accounts used to reflect the financial operations in the accounting field;
- Knowing the information gathering flux and processing the information in the accounting;
- Compiling the accounting records, the trial balance and the financial statements;
- Using the professional judgment in analyzing and interpreting the accounting information;- Forming an open epistemic attitudes in accounting.

Course Entry Requirements:

-

Course contents:

1. Defining financial accounting; financial accounting’ role and setting within the organization. 2. Accounting as a social activity. The role played by accounting in society. The supply for and demand of accounting information. 3. The accounting recognition of basic transactions and events: accounts and transactions regarding non-current assets, inventories, accounts receivable, cash, liabilities, equity, revenues, expenses and profit or loss. 4. Single entry accounting. 5. Trial Balance. 4. Financial reporting at the entities level. The balance-sheet and the company’s financial position. The income statement and the company’s profitability. The statement of changes in equity and reporting transactions with owners. The statement of comprehensive income and the company’s global performance. The statement of cash flows and the analysis of the company’s liquidity. Explanatory notes and the relevance of accounting information. The valuation rules and models employed in financial reporting. 7. Other fundamental elements of financial accounting: accounting calculation; the accounting management of entities, monism and dualism in accounting.

Teaching methods:

Lecture, conversation, exemplification.

Learning outcomes:

- Knowledge of procedures and instruments used to reflect accounting transactions and events; - Identify connections between technical instruments of the accounting; - Knowledge of collection and processing flow of accounting information; - To process items of information in order to carry out financial and accounting reports; - To elaborate accounting monographies.

Learning outcomes verification and assessment criteria:

Written exam – 75%; verification during semester – 25%.

Recommended reading:

Cenar I., Fundamentals of Accounting, Didactica Series, Alba Iulia,, 2009, all.
Cenar I.,, The legal and accounting dimension of pawn, The Annals “Dunarea de Jos” University of Galaţi (International Conference The Risk in Contemporary Economy, 2009, 199-206.
Cenar I.,, Tico S., Financial accounting implications of the clearing/refunding operations of the value added tax, Metalurgia International Review, vol XIV, nr. 14/2009, special issue, ISSN 1582 – 2214., Revista Metalurgia International, vol XIV, nr. 14/2009, Bucharest, 2009, 108 - 113.
Cenar I., The Accounting Professional and Environmental Management Assumptions, Stakes and Challenges, Annals of the University of Petroşani, Economics, vol. XVII, Petrosani, 2017, 45-54.
Cenar I., Heritage Assets in the Accounting of Public Institutions, Annals of DAAAM for 2011 & Proceedings of the 22 nd International DAAAM Symposium, Viena, 2011, 993 – 994.