FUNDAMENTALS ACCOUNTING

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.

- 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.