Financial Accounting – Specific Issues

It is recommended that students understand the accounting model and the portuguese accounting regulations (SNC), namely, have knowledge of its Conceptual Structure.

Attendance to classes is optional but highly recommended.

Classes are theoretical-practical, using an expository methodology for the presentation of the material, supported later in a methodology of work by the student in the application to practical exercises with the objective of consolidating knowledge.

Developed summaries and exercise books are available. 

The Sectoral Financial Accounting Curricular Unit aims to develop some accounting topics that can be easily related to some sectors of activity. Specifically, the objectives are to:

1. Analyze the specific accounting aspects of agricultural activity, within the scope of national accounting standards;

2. To know the accounting treatment of financial instruments and their recognition, measurement and disclosure requirements, within the scope of national accounting standards;;

3. Know the requirements for the recognition of hedge accounting and its accounting treatment, under national accounting standards.

Attendance and approval in this Curricular Unit should allow students to acquire knowledge about:

a) when and how to treat biological assets related to agricultural activity in accounting terms;

b) the accounting treatment of different financial instruments;

c) when and how to treat hedging operations based on the so-called hedge accounting, provided for in NCRF 27 – Instrumentos Financeiros.

1. Introduction

2. Accounting for agricultural activity (NCRF 17)

      2.1. Biological assets and agricultural production

      2.2. Recognition and measurement

      2.3. Presentation

      2.4. Government Grants

      2.5. Disclosures

3. Accounting for financial instruments (NCRF 27)

      3.1. Definitions

      3.2. Recognition

      3.3. Measurement

            3.3.1. Cost or amortized cost less impairment losses

            3.3.2. Fair value

      3.4. impairment

      3.5. Derecognition

      3.6. Hedge accounting

      3.7. Disclosures

NAO

Fundamental Bibliography:

 – GONÇALVES, Cristina, FERNANDES, Sant’Ana, SANTOS, Dolores e RODRIGO, José (2020) Contabilidade Financeira Avançada – Manual Prático, 4ª Edição, Vida Económica, Lisboa.

 – RODRIGUES, João (2021), SNC – Sistema de Normalização Contabilística – Explicado, 8ª Edição, Porto Editora.

Complementary Bibliography:

 – PRICEWATERHOUSECOOPERS (2022) IFRS Manual of Accounting – 2022. Global guide to International Financial Reporting Standards, Global Accounting Consulting Services PricewaterhouseCoopers LLP, CCH, Londres.