Financial Accounting I

Accounting, Publication in the Diário da República - Despacho nº 13772/2014 - 12/11/2014

6 ECTS; 1º Ano, 1º Semestre, 30,0 T + 45,0 PL

Lecturer
- Carla Maria Freitas dos Santos Joaquim

Prerequisites
Not applicable.

Objectives
1. Understand the importance of accounting within management information systems as an element that provides useful information for decision making;
2. Know the conceptual structure and the criteria of valuation of the SNC;
3. Know and apply the SNC;
4. Know the mechanics of the registration process by the double entry method;
5. Know the process of accounting (from the diary to the income statement and balance sheet);
6. Study - accounting treatment and recording - of business operations in the operating cycle - Accounts of the Net Financial Resources (MFL), Inventories and Biological Assets (I) and Accounts Receivable and Payable (CRP).

Program
1. Introduction;
2. Fundamental Concepts of Accounting:
Heritage and Its Constitutive Elements;
Inventory and balance;
Account: Concept, Classification and Its Characterization;
Accounting recording methods;
Launches and Their Species;
The Diary and the Reason;
Articulation Between Diary and Reason; Balance sheets;
The Cycles of Transactions;
The Financial Statements (FS)
3. Preparation and Presentation of Financial Statements:
The Conceptual Framework;
Objectives of FS;
Underlying Assumptions for the Development of FS;
Qualitative Characteristics of FS;
Constraints on Relevant and Reliable Information;
The Definition, Recognition and Measurement of the Elements of FS;
The Concepts of Capital and Capital Maintenance;
Structure and Content of Financial Statements (NCRF 1);
Presentation and Classification of Elements (items) in the Financial Statements;
The Financial Statements: Its Elements;
The annex
4. The Accrual Regime - Concept of Accounting Period and the Importance of Accruals and Deferrals:
Accruals and Deferrals Active
Accruals and Deferrals Passive
5. Theoretical Approach to Value Added Tax (VAT) and Income Tax: VAT on Purchase and Sale Transactions
6. Accounting for Business Operations:
6.1. The Operating Cycle:
Net Financial Means - Standards: NCRF 2, 23 and 27;
Accounts receivable and accounts payable - Standards: NCRF 5, 8 and 12;
Inventories and Biological Assets - Standards: NCRF 18 and 12

Evaluation Methodology
Continuous evaluation:
2 individual tests and a group assignment:
- 1st test with a weighting of 30%, minimum grade of 7 points;
- 2nd test with a weight of 35%, minimum grade of 7 points;
- Group work with a weight of 35%.
Students with an average grade of 10 in the continuous assessment are exempt from the exam.
Non-continuous assessment:
Written test.
Optionally, written test (with a minimum grade of 7 points) with a weighting of 65% and a grade for the continuous assessment work with a weighting of 35%. Non-continuous assessment will take place at the times established in the academic calendar.

Bibliography
- Rodrigues , J. (2016). SNC - Sistema de Normalização Contabilística. Porto: Porto Editora
- Costa, C. e Alves, G. (2014). Contabilidade Financeira . Lisboa: Rei dos Livros
- Borges, A. e Rodrigues, A. e Rodrigues, R. (2014). Elementos de Contabilidade Geral. Lisboa: Áreas Editora
- Borges, A. e Ferrão, M. (2012). Manual de Casos Práticos. Lisboa: Areas Editora
- Lourenço, I. e Morais, A. e Lopes, A. (2018). Fundamentos de Contabilidade Financeira. Lisboa: Edições Sílabo

Method of interaction
The methodologies to be used are the expositive method, with the use of slide projection, the deductive and inductive methods. The methodology for pedagogical simulation is also used.

Software used in class
Not applicable.