Study Guide

Objective

Students:
-understand different types of company and organizational structures.
-can plan and prepare financial statements for sole proprietors, partnerships, limited liability companies, cooperatives, housing companies, associations, and foundations.
-can execute business transactions affecting equity in various company forms.
-understand the accounting implications of changing a company’s legal form.
-are able to distinguish public sector accounting from business accounting.

Content

-accruals
-issues of equity, dividends, funds
-period end closing in different company forms and organizations
-financial management in public sector
-IT solutions for book-keeping in different company forms
-understand the use of different chart of accounts.

Qualifications

Basics of Financial Accounting

Assessment criteria, satisfactory (1)

Students
-can distinguish between different types of company forms and understand similarities and differences in accounting and financial statements between them.
-understand the meaning of accruals and can prepare simpler financial statements.
-are familiar with the procedure of changing company form.

Assessment criteria, good (3)

Students:
-can manage bookkeeping and prepare financial statements for sole proprietors, partnerships, limited liability companies, cooperatives, housing companies, associations, and foundations, and are familiar with the characteristics specific to public financial administration.
-can perform basic accruals and plan financial statements for sole proprietors, partnerships, limited liability companies, cooperatives, housing companies, associations, and foundations, applying current legislation.
can explain the procedure for changing a company’s legal form from both an administrative and business perspective.

Assessment criteria, excellent (5)

Students:
-can independently manage bookkeeping and prepare financial statements for sole proprietors, partnerships, limited liability companies, cooperatives, housing companies, associations, and foundations, and are familiar with the characteristics specific to public financial administration.
-can independently perform basic accruals and plan financial statements for sole proprietors, partnerships, limited liability companies, cooperatives, housing companies, associations, and foundations, applying current legislation.
-understand how to implement a change in company form and can provide well-reasoned arguments for the appropriate use of different company forms from both an administrative and business perspective.
-can independently interpret a financial statement from the public sector.