Financial Accounting

Teacher(s)

Cerrada Cristia Karine; Danaux Géraldine (compensates Cerrada Cristia Karine);

Language

French

Main themes

The first part of the course will explain what is a balance sheet, the double entry principle, the accounting process, the closing postings. It will describe the functioning of the main accounts of the balance sheet and the income statement. The second part of the course will focus on the accounting record of specific transactions such as depreciation and amortization, investment and divestment in fixed tangible assets, subsidies, purchases, sales , inventories,'

Aims

At the end of this learning unit, the student is able to :
1	In a study programme focusing on the operating management of healthcare institutions, the main objective of a financial accounting course is that students acquire the basic accounting principles and techniques. Students will learn how to present the financial information that translates the period's transactions undertaken by an healthcare institution in a summary statement presenting its uses and resources. At the end of this course , students should possess the basic accounting knowledge needed to prepare financial statements.

Content

Content The first part deals with the main accounting principles and concepts : balance sheet, double entry principle, income statement, accounting processes,' The second part focuses on the specific functioning of balance sheet and income statement accounts such as fixed assets, depreciation, amortization, purchases, sales,'

Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Teaching method The first part is essentially focusing on theory and ends with some synthetic applications. The second part combines theoretical explanations with short illustrative exercises on specific records in the ledger and concludes by a small case summarizing the various accounting records studied during the course. There are 15 hours dedicated to this theoretical parts. Students have the opportunity to do some practical exercises during the exercice sessions taught by an assistant. This exercises will account for approximately 9 hours.

Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Evaluation Scope : everything dealt during the ex cathedra course is supposed to be known for the exam. The written notes are conceived as an help for the student but is not as such exam material Content of the exam : the exam will be a combination of practical exercises with theoretical short questions. In other words, it is not only questions such as "How to record that specific economic transaction in accounting?" but also "Why to account for it in such a way?" or "What is the meaning of that specific accounting concept?" Material admitted at the exam : pencil, calculator, student card with picture. The teacher distributes the standard chart of accounts. Assessment criteria : the successful student is the one that has a good understanding of the fundamental logic of the double entry accounting and who is globally able to apply it. The grades are given according to various levels of competences in using the accounting tools. You should know that in accounting there may be various ways of recording a transaction but it also exist accounting records that are completely wrong.

Bibliography

• Support conseillé : K. Cerrada, Y. De Rongé, M. De Wolf, Comptabilité et analyse des états financiers, 3ème édition, De Boeck, Bruxelles, 2019.

Teaching materials

• Support conseillé : K. Cerrada, Y. De Rongé, M. De Wolf, Comptabilité et analyse des états financiers, 3ème édition, De Boeck, Bruxelles, 2019.

Faculty or entity

FSP