Ects : 2

Enseignant responsable :

• VIRGINIE SRECKI

Volume horaire : 18

Description du contenu de l'enseignement :

Companies are obliged to inform their various stakeholders (current or potential shareholders, banks or bond holders, suppliers or customers, employees, the State or various public bodies, etc.) of their financial situation. To do so, they regularly (at least once a year) produce financial statements. Financial accounting is the process of producing these financial statements. It is an information system, gathering financial information in a structure designed to enhance and convey communication, so that individuals can assess risks, success, health and prospects of the company Anyone who can read these financial statements, who understands the meaning of the data they include, is able to understand and judge the financial reality of the company, to give an opinion on its financial situation, and becomes a decision maker The goals of the 'Financial Accounting' course are :

• Find out what information is needed to understand the company's financial situation
• Know the financial statements produced for this purpose, what they contain, how they are structured, where to find key figures => semester 1
• Be able to control the process of producing accounting information (bookkeeping) and, therefore, financial statements = semester 2

Pré-requis obligatoires :

Basics of financial accounting (taught in semester 1).

Coefficient : 0.75

Compétence à acquérir :

From January to May, the second semester is dedicated to understand how financial information is built. The learning outcomes are :

• Know the accounting process and different steps between the economic transaction to its impacts in financial statement. Discover debit and credit and French chart of accounts.
• Learn how to record entries in bookeeping : journal, ledger, trail balance and financial statements
• Understand the differences between perpetual inventory system and periodic inventory system. Learn the different valuation methods for inventory + impairment
• Be able to integrate VAT in the accounting process
• Measure tangible asset : recognition cost, depreciation, impairment, disposal
• Follow account receivable : recognise bad debts and allowance on bad debt or potential loss
• Know how to record cut-off entries and specificly accruals and prepayments
• Discover provisions

Mode de contrôle des connaissances :

Continuous assessment : 50 % (test 40% + participation grade 10%) Final exam : 50%

Bibliographie, lectures recommandées

Any book of introduction to financial accounting.