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 , Cód. 90565.
Lecturer
- Carla Maria Freitas dos Santos Joaquim (1)(2)
(1) Lead Professor
(2) Teaching Professor
Prerequisites
Not applicable.
Objectives
By the end of this course unit, students should be able to:
1. Identify the importance of accounting within management information systems as an element that provides useful information for decision-making;
2. Understand the conceptual structure and valuation criteria of the SNC (Accounting Standardization System);
3. Apply the SNC;
4. Understand the mechanics of the double-entry bookkeeping process;
5. Understand the accounting recording process (from journal to financial statements);
6. Know how to measure and recognize business operations in the operating cycle accounts from the classes of Liquid Financial Resources (MFL), Inventories and Biological Assets (I), and Accounts Receivable and Payable (CRP).
7. Identify the importance and risks of using digital tools and artificial intelligence.
Program
1. Introduction:
1.1. General Considerations
1.2. International and National Accounting Framework
1.2.1. Brief considerations on the Universal History of Accounting
1.2.2. Brief approach to accounting standardization
1.2.3. Accounting standardization in Portugal
1.3. Accounting as an Information System
1.3.1. The evolution and role of accounting as a management tool
1.3.2. Concepts of financial accounting and accounting divisions
1.3.3. The various users of accounting/financial information
1.3.4. The importance of financial information for economic decision-making
2. Fundamental Concepts of Accounting:
2.1. Assets and Their Constituent Elements:
2.1.1. Equity events
2.1.2. Fundamental accounting equation
2.2. Inventory and Balance Sheet
2.3. Account: Concept, Classification, and Characterization
2.4. Accounting Recording Methods
2.5. Journal Entries and Their Types
2.6. The Journal and the Ledger
2.7. Articulation between Journal and Ledger
2.8. Trial Balances
2.9. Transaction Cycles
2.10. Financial Statements (FS)
3. Preparation and Presentation of Financial Statements:
3.1. The Conceptual Framework
3.2. Objectives of the FS
3.3. Underlying Assumptions for the Preparation of the FS
3.4. Qualitative Characteristics of the FS
3.5. Restrictions on Relevant and Reliable Information
3.6. The Definition, Recognition, and Measurement of the Elements of the FS
3.7. The Concepts of Capital and Capital Maintenance
3.8. Structure and Content of Financial Statements (NCRF 1)
3.9. Presentation and Classification of Elements (items) in Financial Statements
3.10. Financial Statements: Their Elements
4. The Accrual Basis Concept of Accounting Period and the Importance of Accruals and Deferrals:
4.1. Concepts
4.1.1. Accruals and Deferrals (Assets)
4.1.2. Accruals and Deferrals (Passives)
5. Theoretical Approach to the Tax on the Circulation of Goods and Services (ICMS) and Income Tax:
5.1. ICMS in Purchase and Sale Operations
5.1.1. General Aspects
5.1.2. Main Administrative and Accounting Obligations
5.1.3. Deductible VAT
5.1.4. ICMS Settled
5.1.5. VAT Adjustments
5.2. Income Tax
6. Accounting for Business Operations:
6.1. The Operating Cycle
6.1.1. Liquid Financial Resources - Standards: NCRF 2, 23 and 27
- Main Concepts
- Study of accounts: Cash, Demand Deposits and Other Deposits, Financial Instruments
- Disclosures
6.1.2. Accounts Receivable and Accounts Payable - Rules: NCRF 5
- Main Concepts
- Study of accounts: Customers, Suppliers, Financing Obtained, State and Other Public Entities, Shareholders/Partners, Other Accounts Receivable and Payable, Personnel
6.1.3. Inventories and Biological Assets - Standards: NCRF 18
- Main Concepts
- Inventory Systems (Permanent and Intermittent)
- Recognition and Measurement.
7. Digital tools to support accounting work.
Evaluation Methodology
The assessment will have two forms:
1. Continuous Assessment:
- Two tests (30% + 30% = 60%), with a minimum passing grade of 7 points across both tests;
- Six mini-tests during class time, with the grades of the 4 best students weighted at 10%, with no minimum passing grade;
- Group work (30%), with a minimum passing grade of 10 points;
- Students with a final grade of 9.5 or higher (weighted average) will pass.
- Other students will be admitted to an Examination:
- Grade Defense: for a final grade higher than 16 points. Absence will result in a grade of 16.
2. Non-Continuous Assessment:
- Examination (regular period): Written test (70%) + Work developed in continuous assessment (30%), optionally a Written Test 100%.
- Resit Exams and other periods: Written test (100%).
- Grade defense: for a final grade higher than 16 in any assessment period. Absence will result in a grade of 16.
Bibliography
- Borges, A. e Ferrão, M. (2012). Manual de Casos Práticos. Lisboa: Áreas Editora
- Borges, A. e Rodrigues, A. e Rodrigues, J. e Rodrigues, R. (2021). Elementos de Contabilidade Geral. Lisboa: Áreas Editora
- Costa, C. e Alves, G. (2021). Contabilidade Financeira . Lisboa: Rei dos Livros
- Lourenço, I. e Morais, A. e Lopes, A. (2020). Fundamentos de Contabilidade Financeira. Lisboa: Edições Sílabo
- Rodrigues, J. (2022). SNC - Sistema de Normalização Contabilística. Porto: Porto Editora
Teaching Method
The methodologies to be used are the expository method, using slide projection, the deductive and inductive methods, including documentary research, and artificial intelligence. The pedagogical simulation methodology is also employed.
Software used in class
Not applicable.
