Financial Accounting

Knowledge acquired in course Introduction to Accounting and Finance in the 1st semester.

ME1. Expository method – being theoretical-practical classes, the sessions include a component of exposition of the issues by the teacher.

ME2. Problem-solving method – the resolution of questions / practical cases, appealing to the active participation of students, with a view to acquiring practical skills and operationalising the theoretical concepts exposed, making their interconnection.

ME3. Activity-Based Learning Conducted in Class – students carry out in-class activities related to the course contents.

The teaching methods adopted enable the achievement of the previously defined objectives.

The main objective of this course is the assimilation and application, by the students, of the main Accounting and Financial Reporting Standards (NCRF). In this sense, this course has the following specific objectives:

– Describe accounting knowledge acquired throughout the 1st semester, namely the accounting treatment of a set of operations linked to the current and non -current aspect of companies and to highlight those that, given their specificity, require greater knowledge of the fundamentals of Accounting.

– Analyze the financial statements, balance and demonstration of results by nature, so that students can understand their construction, as well as the assumptions that have been the basis of their elaboration, so that they evidence, “in a true and appropriate way ”, The patrimonial, financial situation and the changes that occurred throughout an exercise.

– Identify the importance of the entire theoretical support base associated with developed subjects, without forgetting the respective legal and tax aspects.

Students who attend this UC are intended to be prepared to:

a) Identify and understand the main accounting norms concerning the active and passive elements of the financial statements;

b) Recognize and measure a set of operations linked to the current and non -current aspect of companies;
c) Identify the main components of the balance and the demonstration of results;

d) To elaborate and analyze balance and demonstration of results

Chapter 1 – Income Tax
1.1 Withholdings made by third parties
1.2 Withholdings made by the company itself
Chapter 2 – Employee benefits
2.1 Monthly remuneration
2.2 Christmas bonus
2.3 Holiday allowance and vacation month
Chapter 3 – Tangible Fixed Assets
3.1 Recognition and initial measurement: acquisition cost
3.2 Depreciation of tangible fixed assets
3.3 Recognition and initial measurement: self-constructed assets
3.4 Derecognition (disposal, loss, and write-off)

Chapter 4 – Intangible Assets
4.1 Recognition and initial measurement
4.2 Internally generated intangible assets
4.3 Amortisation of intangible assets
4.4 Derecognition

Chapter 5 – Borrowings
5.1 Acquisition of assets through leasing arrangements
5.2 Acquisition of assets financed by investment grants
5.3 Borrowing costs related to tangible fixed assets

Chapter 6 – Asset Impairment
6.1 Impairment of tangible fixed assets and intangible assets
6.2 Impairment of financial assets (trade receivables)
6.3 Inventory losses

Chapter 7 – Non-current Assets Held for Sale
7.1 Recognition and initial measurement
7.2 Derecognition

Chapter 8 – End-of-Period Operations
8.1 Adjusting entries
8.2 Corporate Income Tax – calculation and recognition
8.3 Profit or loss determination procedures

Chapter 9 – Financial and Non-Financial Reporting
9.1 Objectives of financial statements
9.2 Statement of Financial Position and Statement of Profit or Loss by nature – components and structure
9.3 Complete set of financial statements
9.4 Accountability and reporting obligations: main documents and their purpose
9.5 Non-financial reporting

NAO