Teaching plan for the course unit

 

 

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General information

 

Course unit name: Accounting II

Course unit code: 363665

Academic year: 2020-2021

Coordinator: Jordi Morros Ribera

Department: Department of Business

Credits: 6

Single program: S

 

 

Estimated learning time

Total number of hours 150

 

Face-to-face and/or online activities

60

 

-  Lecture with practical component

Face-to-face and online

 

37,5

 

-  Problem-solving class

Face-to-face and online

 

22,5

Supervised project

40

Independent learning

50

 

 

Recommendations

 

This is a highly formalised, abstract subject, requiring students to apply previously acquired knowledge of many different fields of business. The IAS and IFRS have led to a considerable leap in the depth of prior knowledge required for this subject, given its abstract nature and associations with other areas of business knowledge, including mathematical, conceptual, financial and legal aspects. This has brought financial accounting closer to the fundamental core of business knowledge, and thus it is no longer only a vehicle for formal techniques with legal connotations of a passive nature.

Students are strongly recommended to have studied subjects that provide descriptive and analytical knowledge and to have completed some instrumental training, relating to business issues. It is advisable to have completed the following subjects: Macroeconomics (concepts of capital stock and income flow), Mathematichs I and Mathematics II (for essential knowledge on the values of capital and income and internal rates of return, and on capital costs resulting from the application of compound interest methodology), Statistics I and II (for the compilation and presentation of data), Business Economics (for essential knowledge of institutions, business processes and functions and, in particular, finance and investment) and Introduction to Business Law, due to the inevitable legal overlap between accounting operations. In addition, students must have taken Accounting I, which explains not only accounting techniques and procedures but also the accounting cycle, defined as a unit with a beginning, middle and end.

Students taking this subject should be aware that it is very technical and that high levels of conceptual and critical maturity are required. The following areas of prior knowledge and training are essential: 1) a good base of technical accounting operations and comprehension of the accounting cycle (Accounting I); 2) sufficient command of the most important descriptive and analytical concepts of business economics (while the pre-accounting analysis component of Accounting II may be brief, it requires this prior training, as one cannot interpret accounting concepts without some knowledge or understanding of them); 3) adequate knowledge of the most commonly encountered concepts and contracts in commercial law, and 4) sufficient skill in applying the mathematical tools of financial operations, as the IAS and IFRS require the use of these techniques to determine the fair value of certain assets and liabilities and multi-annual structures for many activated expenses.

Accounting, finance and business economics provide much knowledge and training that is absolutely necessary to the successful completion of this course, which is adapted to the harmonisation of international accounting.

Students must have enrolled for Accounting I.


Requisites

363645 - Matemàtiques I (Recommended)

363647 - Estadística I (Recommended)

363651 - Macroeconomia (Recommended)

363653 - Economia de l'Empresa (Recommended)

363656 - Introducció al Dret de l'Empresa (Recommended)

363663 - Matemàtica Financera (Recommended)

363655 - Comptabilitat I (Obligatory)

 

 

Competences to be gained during study

 

   -

To draw up, analyse and use internal and external accounting and financial information to control management and decision-making processes.

   -

To be able to make financial and business decisions, taking into account the current economic situation.

Learning objectives

 

Referring to knowledge

This is a core subject designed to help students meet the following objectives:

  • Acquire knowledge of the applicable rules for assessing, recording and preparing financial statements, and of the Spanish General Accounting Plan (PGC), ICAC regulations and other commercial regulations.
  • Acquire an understanding of the broad field of financial accounting and its relationships with other accounting disciplines and disciplines outside this field.
  • Acquire the proper scientific training to understand how to collect, measure, value and represent external transactions, enabling students to prepare annual reports based on a knowledge of the financial position, profit and cash flow of a company.


The specific objectives to be accomplished through the course include:
  • knowledge of accounting standards and their interpretation and application;
  • the ability to record transactions affecting the equity and profit of a company;
  • the capacity to communicate and interpret accounting information.
  • the ability to record diverse business operations.

 

 

Teaching blocks

 

1. Financial accounting: methodological introduction

*  Objectives for the block - unit
— Understand the role of financial accounting within the accounting body of knowledge.
— Analyse the institutional conceptual tools that should aid the global harmonisation of financial information, enabling economic agents interested in this information to make informed decisions.
— Study the origin and evolution of Spanish and international legislation on commercial accounting.
— Understand and synthetically appraise the structure and scope of annual reports, including formats currently being phased out and those that are emerging with the changes introduced by the adoption of the IAS and IFRS.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al. Other specific materials are recommended by the teacher.

Topic 1. Financial accounting: methodological introduction

1. Definitions of financial accounting
2. Financial accounting and accounting division
3. Compulsory requirements of financial accounting
4. Objectives of financial accounting
5. Accounting standardisation and harmonisation: IASB and FASB

Topic 2. Accounting reform in company law

1. Commercial code
2. Corporation law
3. General accounting plan (PGC)

Topic 3. Conceptual framework of accounting

1. Conceptual framework
2. True and fair view
3. Requirements of information included in annual accounts
4. Accounting principles
5. Elements of annual accounts
6. Record criteria or recognition of annual accounts
7. Valuation criteria

2. Economic structure accounting

*  Objectives for the block - unit
— Understand and study pre-accounting analysis of the components of economic structure, including fixed, circulating, operational and purely financial aspects.
— Acquire a detailed understanding of the reasoning behind mechanisms for establishing market values of balance groups and understand how these values are reduced.
— Study and know how to apply the valuation rules of income and corresponding expenditure, and how to implement the procedures and criteria to properly assess the respective accounting movements.
— Understand the reasons behind an accounting movement and the definitions and relationships of accounting subgroups, and be able to identify the type of transaction in question and to make informed judgements about their impact on equity, financial position and, ultimately, company results.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al., and Urias. Also useful: Arquero et al. and Rodríguez Pérez et al. Other specific materials are recommended by the teacher.

Topic 4. Tangible fixed assets

1. Concept and content
2. General regulations of valuation
3. Specific regulations of valuation
4. Value adjustment of fixed assets
5. Real estate investment
6. Non-current assets for sale
7. Leases and similar operations

Topic 5. Intangible fixed assets

1. Concept and content
2. Research and development expenditure
3. Administrative concessions
4. Industrial property
5. Goodwill
6. Transfer rights
7. Computer applications

Topic 6. Financial investments

1. Concept and content
2. Loans and budgetary item receivable
3. Held-to-maturity investments
4. Held-for-trading financial assets
5. Available-for-sale (AFS) financial assets
6. Other financial assets

Topic 7. Stock

1. Concept and content
2. Valuation standards
3. Accounting systems
4. Cost allocation methods
5. Cost adjustment

Topic 8. Operating assets: Trade receivables and other debtors

1. Concept and content
2. Clients and debtors
3. Operations with commercial effects
4. Cost adjustments

3. Financial structure accounting

*  Objectives for the block - unit
— Understand and study pre-accounting analysis of the components of internal and external financial structure.
— Acquire a detailed understanding of the reasoning behind mechanisms for establishing market values of balance groups and understand how these values are reduced.
— Study and know how to apply the valuation rules of income and corresponding expenditure, and how to implement the procedures and criteria to properly assess the respective accounting movements.
— Understand the reasons behind an accounting movement and the definitions and relationships of accounting subgroups, and be able to identify the type of transaction in question and to make informed judgements about their impact on equity, financial position and, ultimately, company results.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al., and Urias. Also useful: Arquero et al. and Rodríguez Pérez et al. Other specific materials are recommended by the teacher.

Topic 9. Basic finance

1. Concept and content
2. Capital
3. Reservations
4. Results

Topic 10. Subvention and donations

1. Official capital grants
2. Donations and legacies

Topic 11. Provisions

1. Concept and content
2. Provisions for staff remuneration
3. Tax provision
4. Provisions for responsibilities
5. Provisions for dismantling
6. Provisions for onerous contracts
7. Environmental provisions
8. Restructuring provisions
9. Provisions for payment transactions

Topic 12. External financing

1. Concept and content
2. Debts and item payable
3. Financial liabilities held-for-negotiation
4. Other financial liabilities
5. Compound financial instruments

4. Single-item accounting

*  Objectives for the block - unit
— Study and apply valuation rules for single items—assets and liabilities—deriving from issues of taxation, transactions in currencies other than the euro, and accruals.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al., and Urias. Also useful: Arquero et al. and Rodríguez Pérez et al. Other specific materials are recommended by the teacher.

Topic 13. Accruals

1. Concept and content
2. Deferred and anticipated income
3. Deferred and anticipated expenditure
4. Outstanding invoices

Topic 14. Corporate income tax accounting

1. Accounting methods
2. Permanent differences
3. Temporary differences
4. Compensation of negative tax bases
5. Accrued expenditure and public finance liquidation

Topic 15. VAT accounting

1. Introduction
2. Accounts in the Spanish General Accounting Plan (PGC)
3. VAT accounting in purchases and expenditures
4. VAT accounting in fixed asset acquisition
5. VAT accounting in service sales and provision
6. Accounting of non-deductible input VAT
7. Pro rata rule: general and special
8. VAT in exports, imports and intra-Community operations
9. VAT special regimes and Canaries General Indirect Tax (IGIC)

Topic 16. Foreign currency transactions

1. Concept and content
2. Cost adjustment
2.1. Monetary items
2.2. Non-monetary items

5. Profit accounting

*  Objectives for the block - unit
— Understand and study pre-accounting analysis of the expenditure and income flows that figure in profit statements: operational, financial and extraordinary flows, generated in the same accounting period, periodical or multi-annual.
— Acquire a detailed understanding of the reasoning behind mechanisms that determine the flows identified in profit statements, and know how to distinguish them from those generated by valuation differences that have a direct impact on the balance sheet.
— Study and apply valuation rules of income and corresponding expenditure, and understand how to implement the procedures and criteria to properly assess the respective accounting movements.
— Understand the reasons behind an accounting movement and of the definitions and relationships relevant to each account that figures in a profit statement, and identify the type of transaction in question and make informed judgements of their impact on profits and, ultimately, on the equity and financial position reflected in the balance sheet.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al., and Urias. Also useful: Arquero et al. and Rodríguez Pérez et al. Other specific materials are recommended by the teacher.

Topic 17. Annual profits: income, loss and profit

1. Pre-accounting analysis
2. Location in annual accounts, applicable regulations and valuation criteria
3. Treatment in the General Accounting Plan of accounts, definitions and corresponding accounting relations

6. Financial statements

*  Objectives for the block - unit
— Understand the structure of financial statements as required under the current Spanish General Accounting Plan (PGC), as a means of observing and comparing changes brought by new regulations on financial statements arising from the IAS and IFRS, and know how to make the transition to the new presentation requirements.
— Understand the new requirements on financial statements deriving from application of the IAS and IFRS, observing how this applies to the specific case of the new Spanish GAAP.
— Be able to prepare and submit annual reports, essentially in accordance with the new regulations.

Material/resources
Study of slides and publications prepared by the teaching staff, and detailed reading of the reference material by Montesinos et al., and Archel Domenech. Also useful: López Díaz i Menéndez and Rodríguez Pérez et al. Other specific materials are recommended by the teacher.

Topic 18. Annual reports

1. Balance
2. Profit and loss account
3. Financial report
4. Cash flow statement
5. Statement of changes in equity

 

 

Teaching methods and general organization

 

The subject is delivered through face-to-face lectures comprising presentation of key concepts, through the use of the board, slides and computer presentations, and practical problem-solving exercises. The basic supporting materials include detailed explanations of individual topics, available on the Virtual Campus, and set texts designed to aid preparation and further study of the topics listed in each teaching block. As a result of the project to promote teaching quality that is being implemented in the Faculty of Economics and Business (promoted by the Research, Innovation and Teaching and Learning Improvement [RIMDA] unit and the Office of the Vice-Rector for Teaching and Academic Planning), during academic years 2018-2019 and 2019-2020, the teaching methodology for some subject groups may differ slightly from that described above. The details of this methodology will be published in the Virtual Campus at the start of the academic year.

 

 

Official assessment of learning outcomes

 

Continuous assessment

Evaluation for the subject is by continuous assessment throughout the teaching period, and in face-to-face or virtual format depending on the evolution of the pandemic during the semester.

Students who do not submit the first continuous assessment activity are automatically entered for single assessment.

Continuous assessment encompasses a series of assignments. The weighting given to each activity in the calculation of the final grade is shown below:

Assignment 1. multiple-choice test, worth 50% of the final grade, or multiple-choice test (25%) and practical assessment with an exercise (25%). Face-to-face activity; compulsory.

Assignment 2. multiple-choice test, worth 50% of the final grade, or multiple-choice test (25%) and practical assessment with an exercise (25%). Face-to-face activity; compulsory.

Students must complete all of the assessments tasks, including independent work and in-class activities and obtain a cumulative weighted final grade of at least 5 out of 10 to pass the subject.

Students who do not pass the continuous assessment are entitled to repeat assessment.

The GIE group is subject to the same assessment criteria as the other teaching groups for Accounting II.

The groups in which a new methodology is implemented in relation to that described in this course plan will be informed of the specific assessment criteria in the virtual campus.

 

Examination-based assessment

Students sit a multiple-choice examination covering all contents of the course. A minimum grade of 5 is required.

The groups in which a new methodology is implemented in relation to that described in this course plan will be informed of the specific assessment criteria in the virtual campus.

Repeat assessment. The examination for repeat assessment is the same as that described for the single assessment option.

 

 

Reading and study resources

Consulteu la disponibilitat a CERCABIB

Book

ALONSO PÉREZ, Ángel., POUSA SOTO, Raquel. Casos prácticos del nuevo plan general de contabilidad : BOE de 20 de noviembre de 2007. Madrid : Centro de Estudios Financieros, 2016

  Being bought.

Catàleg UB (4a ed., 2009)  Enllaç

ARCHEL DOMENCH, Pablo. Estados contables: elaboración, análisis e interpretación. 5ª ed. Madrid : Pirámide, 2018

Catàleg UB  Enllaç

GARCIA CASTELLVI, Antonio. Sistemas de información y normalización contable. Barcelona : Universitat de Barcelona. Departament de Comptabilitat, 2006

Catàleg UB  Enllaç

GARCIA CASTELLVI, Antonio. Contabilidad financiera: análisis y aplicación del PGC de 2007. Barcelona : Ariel, 2011

Catàleg UB  Enllaç

GÓMEZ VALLS, Francesc, ROVIRA VAL, Mª. Rosa. Contabilidad financiera. Madrid : Síntesis, 2010

Catàleg UB  Enllaç

HORNGREN, Charles T., et al. Introduction to financial accounting. 11h ed. Upper Saddle River (N.J.) : Prentice Hall, 2014

Catàleg UB  Enllaç
Catàleg UB. Versió en castellà (7a ed., 2000)  Enllaç

KIMMEL, Paul D.; WEYGANDT, Jerry J.; KIESO, Donald E. Financial accounting : tools for business decision making. 10th ed. Hoboken, N.J. : Wiley, 2016

  Being bought.

Catàleg UB (6th ed., 2011)  Enllaç

PULIDO, Antonio. Las normas internacionales de información financiera (NIIF/NIC) : una visión actual. Madrid : Garceta, grupo editorial, 2014

Catàleg UB  Enllaç

MONGER, Rod F. Financial accounting : a global approach. Chichester : Wiley, 2010

Catàleg UB  Enllaç

MONTESINOS JULVE, Vicente. ... [et al.] Introducción a la contabilidad financiera : un enfoque internacional. 6ª Ed. Barcelona : Ariel, 2009

Catàleg UB  Enllaç

OSES GARCIA, Javier. 108 ejercicios de valoración en contabilidad financiera. 3ª Ed. Madrid: Garceta grupo editorial,2017

PORTER, Gary A.; NORTON, Curtis L. Financial accounting : the impact on decision makers. 9rd ed. Stamford : Cengage Learning, 2015

Legislation

Espanya. Real Decreto 1514/2007, de 16 de noviembre, por el que se aprueba el Plan General de Contabilidad.  Enllaç

Espanya. Real Decreto Legislativo 4/2004, de 5 de marzo, por el que se aprueba el texto refundido de la Ley del Impuesto sobre Sociedades. Boletín Oficial del estado, 11 de Marzo de 2004, núm. 61, p. 10951  Enllaç

Espanya. Real Decreto 1777/2004, de 30 de julio, por el que se aprueba el Reglamento del Impuesto sobre Sociedades. Boletín Oficial del Estado, 6 de Agosto de 2004, núm. 189, p. 28377.  Enllaç

Espanya. Ley 37/1992, de 28 de diciembre del Impuesto sobre el Valor Añadido. Boletín Oficial del Estado, 29 de Diciembre de 1992, núm. 312, páginas 44247 a 44305.  Enllaç

Espanya. Ley 16/2007, de 4 de julio, de reforma y adaptación de la legislación mercantil en materia contable para su armonización internacional con base en la normativa de la Unión Europea. Boletín Oficial del Estado, 5 de Julio de 2007,núm. 160, p. 29016 a 29047  Enllaç

Article

LAÍNEZ, J. A.; CALLAO, S. "Normas internacionales de contabilidad vs: normativa española". Partida doble [Madrid] (octubre, 1999), núm. 104; p. 4-27.  Enllaç

Web page

GONZALO ANGULO, JA.: "Principales cambios que suponen las Normas Internacionales de Información Financiera (NIIF) respecto del Plan General de Contabilidad (PGC). [en línia]. [Consulta: 12 juny 2017]. Disponible a: http://www.5campus.org/leccion/niif.  Enllaç