Course: State Final Exam Business Accounting

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Course title State Final Exam Business Accounting
Course code KUF/SZUC
Organizational form of instruction no contact
Level of course Master
Year of study 2
Semester Winter and summer
Number of ECTS credits 0
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Course content
MANAGERIAL ACCOUNTING: 1. Controlling, its fundament, evolution and importance. Controlling role in strategic and operational management. Source of management information. 2. Management processes, operations and activities and information support. Managerial accounting as a tool for effective management. Opportunity costs. Performance management. Techniques cost accounting - accounting for materials, labor and overhead costs, methods and principles of cost accounting. 3. Costing system and its use in management. Application of the methods of management accounting which focus on the management of processes and activities. Activity based costing. 4. Budgeting - methods, budget preparation, capital budgeting and discounted cash flows, budgetary control. Determination of business objectives with respect to the corporate budget. 5. Calculation and analysis of variances, synchronization of budgeted and actual revenue. 6. Responsibility accounting as a part of liability management, responsibility centers. Internal pricing, Pricing decisions. Measuring and monitoring the performance of individual internal departments, reducing costs and increasing value. Management reports. 7. Strategic management accounting - value chain analysis, Life-cycle costing. Target costing. Balance score card, Just-in-time. KPI - Key Performance Indicators. 8. The decision tasks in existing capacity, Cost-volume-profit analysis. Decision-making role on future capacity, financial criteria and evaluation methods of investment, respect the time factor. UA: Heading of Accounting (financial) auditing: 1. The audit, its objectives and general principles. 2. Legislative adjustment of audit activities. 3. Ethics in audit activities. 4. The activities of the auditor before the conclusion of the audit engagement. 5. The activities of auditor in identifying risks and determining materiality. 6. The planning of the audit. 7. The Audit evidence and evaluation. 8. Report of the auditor, the audit opinion. 9. Working papers, events between the date of of the financial statements and issuing the audit opinion. 10. Fraud and criminal liability of the auditor. Measures against money laundering activity. Heading of International Financial Reporting Standards: 1. International accounting harmonization, main accounting systems (IFRS, US GAAP, accounting in the EU). 2. Conceptual framework, valuation of assets and liabilities. 3. Fixed assets (reporting, valuation, depreciation). 4. Leasing (characteristics, classification, view of the lessee and the lessor). 5. Inventories (reporting and valuation). 6. Financial instruments - financial asset and liability (recognition and measurement). 7. Revenues from contracts with customers (revenue determination model). 8. Liabilities - provisions, contingent assets and contingent liabilities, employee benefits (recognition and measurement). 9. Income taxes (characteristics, calculation methods). 10. Biological assets - agriculture; subsidies (reporting and valuation). 11. Financial statements prepared in accordance with IFRS. 12. Business combinations - consolidated financial statements.

Learning activities and teaching methods
Learning outcomes
The content of this course is the state final examination of business accounting.
Students understand the principles of managerial accounting (they are able to analyze individual costs, use calculation systems in specific production conditions, compile budgets and evaluate deviations, are able to use tools and methods in business process management, strategic management and controlling). In the area of International Financial Reporting Standards, they have knowledge and skills in their understanding and application at the level of selected standards, including a conceptual framework in preparing financial statements of entities (students are able to discuss and apply standards in accordance with the requirements of this financial reporting framework). In the category of accounting auditing, students are able to obtain the basics for determining and ensuring the reliability of published accounting information, identification of errors and mistakes, understand the context, contribute to the educational function of audit.
International Financial Reporting Standards 1, International Financial Reporting Standards II, Managerial Accounting II and Accounting Auditing.
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Assessment methods and criteria
Oral examination

The student must demonstrate knowledge of a comprehensive overview of concepts and principles of managerial accounting, international financial reporting standards and financial auditing. The student is able to respond to specific questions and apply basic theoretical knowledge to practical examples.
Recommended literature
  • České účetní standardy pro podnikatele..
  • Vyhláška č. 500/2002 Sb., ve znění pozdějších předpisů, pro účetní jednotky, které jsou podnikateli účtujícími v soustavě podvojného účetnictví..
  • Zákon č. 563/1991 Sb., o účetnictví..
  • Zákon č. 93/2009 Sb., o auditorech..
  • DRÁBKOVÁ, Z., KOUŘILOVÁ, J. skripta Účetní auditing. JU EF, 2016. ISBN 978-80-7394-560-2.
  • DVOŘÁKOVÁ, D. Finanční účetnictví a výkaznictví podle mezinárodních standardů IFRS, 4. aktualizované vydání. Brno: Bizbooks, 2017.
  • Jílek, Josef. Hlavní účetní systémy IFRS a US GAAP. První vydání. Praha : Grada, 2018. ISBN 978-80-247-2774-5.
  • Král, B. a kol. Manažerské účetnictví. Praha: Management Press, 2019.
  • Králíček, V.; Müllerová, L. Auditing. Praha: Oeconomica, 2020. ISBN 9788024522333.
  • Šoljaková, L. Strategicky zaměřené manažerské účetnictví. Praha: Management Press, 2009. ISBN 978-80-7261-199-7.
  • Šrámková, Alice; Křivánková, Martina. Mezinárodní standardy účetního výkaznictví : praktické aplikace. Sedmé aktualizované vydání. Praha : Institut certifikace účetních, a.s., 2017. ISBN 978-80-87985-10-6.

Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester
Faculty: Faculty of Economics Study plan (Version): Accounting and Financial Management (3) Category: Economy 2 Recommended year of study:2, Recommended semester: Summer
Faculty: Faculty of Economics Study plan (Version): Accounting and Financial Management (3) Category: Economy 2 Recommended year of study:2, Recommended semester: Summer