Financial Accounting

Universidad Carlos III de Madrid

Course Description

  • Course Name

    Financial Accounting

  • Host University

    Universidad Carlos III de Madrid

  • Location

    Madrid, Spain

  • Area of Study

    Accounting, Business, Business Administration, Business Management, Economics, Finance, Financial Management

  • Language Level

    Taught In English

  • Prerequisites

    STUDENTS ARE EXPECTED TO HAVE COMPLETED
    Introduction to accounting

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

    6
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    COMPETENCES AND SKILLS THAT WILL BE ACQUIRED AND LEARNING RESULTS.
    By the end of the course students should be able to:

    - Solve any new accounting problem using the knowledge acquired in this and previous courses.
    - Understand the effect of accounting policies on the figures reported on the financial statements.

    Skills development:
    -Initiative and self-learning
    -The ability to select and assign priorities within restricted resources and to organize work to meet tight deadlines
    -Work in teams.
    -Present, discuss, report and defend views effectively.

    Attitudes:

    - Compliance with the fundamental ethical principles.
    - Commitment to continual improvement and lifelong learning.

    DESCRIPTION OF CONTENTS: PROGRAMME
    1. Introduction to valuation and recognition criteria
    2. Inventory.
    3. Revenue recognition
    4. Receivables. Basic issues
    5. Receivables. Particular issues
    6. Tangible assets. Basic issues
    7. Tangible assets. Particular issues
    8. Intangible assets.
    9. Financial instruments.
    10. Liabilities, Loss contingencies and employment costs.
    11. Equity
    12. Income tax

    LEARNING ACTIVITIES AND METHODOLOGY

    The course is organised in theoretical and practical sessions. Theoretical sessions are designed to provide the basic concepts needed to solve the accounting problems analysed. Practical sessions are used to discuss exercises and practical cases where basic theorical concepts need to be applied. The weekly programme states when theoretical sesions take place and when exercices and practical cases are discussed in the classroom. Students should revise the concepts analysed in every theoretical session and solve the proposed exercises and/or practical cases before they are discussed in the classroom.

    ASSESSMENT SYSTEM

    Assessment will be based on:

    - tasks and class participation (both in theoretical and practical sessions): 20%.
    - mid-term exam: 20%.
    - final exam: 60%.
    (A minimum of 4 points out of 10 is required to pass the final exam).

    % end-of-term-examination: 60
    % of continuous assessment (assigments, laboratory, practicals?): 40

Course Disclaimer

Please note that there are no beginning level Spanish courses offered in this program.

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.