Introduction to Accounting - Accounting in business

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The main objective of the lecture is to introduce knowledge and understanding of the business and it’s environment and the influence this has on how organizations are structured and on the role of the accounting and other key business functions in contributing to the effective and ethical management and development of an organization and It’s people and their interaction with technology, data and information system.

1.Business organization structure, governance and management

2. Key environmental influences and constraints on business and accounting

3. Constraints on business and accounting. History and role of accounting in business

4. The Nature and Functions of Accounting

Specific functions of accounting and internal financial control

The Record-keeping Function

Classifying and Summarizing Transactions

Accounting and Decision Making

5. Accounting and the forms of Business Enterprises

6. The Primary Users of Accounting Information.

7. Accountants its role as providers of accounting Information.

8. The Setting of Accounting Standards.

9. Accounting concepts and conventions inherent in accounting Information .

10. Financial Statements and Their Elements

- The Balance Sheet

- The Income Statement

- The retained Earnings Statement

- The Statement of Changes in Financial Position

11. Measuring and recording income statement transactions:

- revenues and expenses

- gain and losses

- net income

- dividends

12. Recording balance sheet transactions:

- debit and credit rules

- journal entries

- recording of transactions

Papers of F1 ACCA exam – Accountant in Business,

“Corporate Accounting in the unstable world” Mirosław Bojańczyk

ABiF Vistula /Warsaw 2017

M.Bojańczyk, Managers and owners on the capital market, crisis in company management, Warsaw School of Economics, 2010

„Accounting for Business Studies” by Aneirin Sion Owen; Manchester Metropolitan University;

Graduate has the basic knowledge about economic sciences, in particular economics, finance and management, as well as their place in the system of sciences and relations to other sciences

Student has the basic knowledge about contemporary theories of finance science and the existing relationships between them as well as analysis methods used in finance, including sources of information

Student knows the methods of financing, setting up and running a business and understands the importance of effective organization, financing, keeping business records, accounting, reporting and conducting analysis of financial data as well as the principles of industrial property protection and copyright

Final Exam - 90 %

Activity during class 10%