27306 - Financial accounting II
27306 - Financial accounting II
Faculty / School:
109 - Facultad de Economía y Empresa
228 - Facultad de Empresa y Gestión Pública
301 - Facultad de Ciencias Sociales y Humanas
448 - Degree in Business Administration and Management
454 - Degree in Business Administration and Management
458 - Degree in Business Administration and Management
The main objective of this subject, taught in the second term of the first year of the Degree in Business Administration and Management, is to develop students’ accounting knowledge by focusing on accounting recognition, measurement and recording of the economic and financial business transactions, within the framework of the Spanish accounting regulation and, in particular, taking into account the General Accounting Plan.
The aim is that the student should become aware of the accounting treatment of the main economic operations of business entities in order to be able to go deeper into the elaboration and analysis of the financial information of different economic agents (business entities, business groups, non-profit organisations, public entities and so on) in subsequent subjects.
1.2. Recommendations to take this course
This subject takes basic accounting concepts studied in Financial Accounting I as its starting point. The students should have, at least, a basic knowledge of the accounting method and the components of the annual accounts.
1.3. Context and importance of this course in the degree
The students, having studied “Financial Accounting I” in the first term of the degree, which presents the basic theoretical concepts and accounting methodology, go on to study “Financial accounting II” which deals with the basic accounting regulation in Spain, the General Accounting Plan. Therefore, these two courses are basic subjects that allow students to continue with the study of other subjects in the degree related to the elaboration and interpretation of financial information of business entities and other organisations.
1.4. Activities and key dates
The classes will start and finish on the dates indicated in the academic calendar for the subjects of the second term.
During the period of classes, two assessment exercises will be carried out, one in April and the other in May or June, either during the last week of the term or on the dates established by the Faculty for the continuous assessment exams.The exact dates and times will be notified in advance, both in class and through Moodle.
Furthermore, students will have two additional opportunities to pass the subject in the official exam periods: one in June and the other in September, on the dates fixed by the Faculty.
2.1. Learning goals
In order to pass this subject, the student must demonstrate that he/she:
- Can list and classify the sources of accounting standards which are applicable in Spain.
- Can interpret, assess and represent, the economic and financial events that arise from the economic activity of the company, in accordance with the accounting criteria established in the Spanish General Accounting Plan (GAP) at an intermediate level.
- Can quantify the economic effect of business operations in the results and in the economic and financial situation of the company.
- Can differentiate between the components of the annual accounts listed in the GAP.
2.2. Importance of learning goals
Accounting is a basic element in the education of a graduate student in the field of Business because it allows the student to understand the impact of the economic and financial transactions of an entity on its performance and economic and financial position. Accounting is a very useful tool for the analysis of economic and financial information for decision-making purposes.
3.1. Aims of the course
- The student must know and be able to apply the most relevant aspects of accounting recognition and the measurement of economic and financial business transactions, within the framework of the Spanish accounting regulation and, in particular, taking into account the General Accounting Plan.
- The student must know the main economic and financial transactions of business entities and other organisations.
- The student must acquire skills in order to properly register and interpret the economic events that take place in business entities and other organisations.
- Understand the operation of all the functional areas of a business entity, and carry out any management-related activity smoothly.
- Assess the situation and foreseeable evolution of business entities and other organisations, make decisions and extract relevant knowledge.
- Solve problems.
- Analyse and synthesize.
- Work in teams.
- Put knowledge into practice
4.1. Assessment tasks (description of tasks, marking system and assessment criteria)
The students must demonstrate that they have achieved the learning results of this subject through the following assessment activities:
For the June exams, two evaluation systems are available:
a) A continuous assessment system consisting of two theoretical-practical exams. The first one will be in April and will cover the contents of lessons 1 to 4. The second one will cover the contents of lessons 5 to 10 and will be in May or June (either during the last week of the term or on the dates established by the Faculty for the continuous assessment exams). The exact dates and times will be notified in advance, both in class and through Moodle. The weight of these exams in the final mark of the subject will be 35% and 65%, respectively. In order to pass the subject, the weighted average score should be greater than or equal to 5 and a minimum mark of 4 is required in each of the exams.
b) A global assessment system. The student that does not choose the continuous assessment system, does not pass the subject in the continuous assessment system, or wants to improve his/her mark, will be entitled to sit the global exam. Its content will be theoretical-practical and it will take place on the date and time established by the Faculty.
In the June exams, the mark of the students that follow both systems will be the highest between the mark in the continuous assessment system and in the global assessment system.
The exams will consist of several questions. The score of the theoretical questions, consisting of multiple choice exercises, will range from 10% to 15% of the final mark of the exam. The rest of the exam will consist of practical exercises about the measurement, recording and presentation of the economic events included in the syllabus. Some of the exercises may take the form of multiple choice questions.
In the September exams, the assessment will be carried out through a final exam. Its content will be theoretical-practical, including the same type of questions explained above.
In the global assessment system of the June and September exams, the final mark will be the one obtained in the final exam. Students will pass if they obtain at least 5 points in the exam.
In all the exams, the assessment criteria that will be used include: accuracy in the responses to multiple choice questions; rigor; correct, clear and ordered reasoning; command of the terminology; and an adequate approach and accuracy in the solution of practical exercises.
5.1. Methodological overview
The subject will consist of theoretical and practical classes. In the practical classes, the group will be split into two. This will allow the students to participate more actively in the practical classes. Because of the characteristics of the subject, the theoretical classes also have an essentially practical approach. However, it will be in the practical classes that the student will be encouraged to take a more active role in his/her own learning process. All in all, the aim is to “learn by working”.
The materials for this subject will be available at http://moodle2.unizar.es for the students enrolled in the subject.
5.2. Learning tasks
The syllabus offered to the students to help them achieve the learning results of this subject comprises the following activities
1) Theoretical classes (30 hours): The participatory lecture model will be used. This model offers the lecturer the possibility of highlighting the most important aspects of each lesson, controlling the time given to explanation and guiding the students in the study of the subject. The lecturer will promote the participation of students by raising questions and presenting examples during the class. In this way, students will be able to discuss, think about and solve the problems in pairs and, finally, they will share their ideas with the rest of the class. The materials for this subject will be available at http://moodle2.unizar.es before the theoretical classes to make it easier for the students to follow the class. (NOTE: the theoretical lessons and the practical examples and exercises will be available on the e-learning platform, but not the solutions).
2) Practical classes (the group will be split into two; 30 hours): These will consist of solving practical exercises. The scheme will be as follows:
a) The practical exercises will be available at http://moodle2.unizar.es before the practical classes.
b) Students will solve the exercises at home.
c) The teacher will ask for volunteers to solve the different parts.
3) Office hours: Students will have times for tutorials with the teachers of their group. They will also have the possibility of submitting queries by e-mail.
4) Personal work: It is essential that students distribute this workload throughout the term in order to assimilate the contents. This will make the learning of subsequent lessons easier.
5) Use of ICTs as study and learning tools: The online learning platform “Moodle” will be used to post the syllabus, materials and practical exercises of the subject. Likewise, students will be provided with this teaching guide and other information that may be useful for them (announcements about practical classes, news of interest, and so on).
6) Exams: See the “Assessment” section.
The office hours, personal work by the student and other activities involve 90 hours, approximately.
The contents of this subject are divided into three parts. These parts are made up of the lessons shown below.
PART I. THE REGULATORY FRAMEWORK OF ACCOUNTING IN SPAIN
Lesson 1.THE REGULATORY FRAMEWORK OF ACCOUNTING IN SPAIN. THE GENERAL ACCOUNTING PLAN
1. Regulatory framework of accounting in Spain. Background
2. The European regulatory framework of accounting: IAS/IFRS adopted by the EU
3. Adaptation of the Spanish regulatory framework of accounting to the IASB model
4. The General Accounting Plan
PART II. COMPONENTS OF BUSINESS WEALTH AND INCOME
Lesson 2. PROPERTY, PLANT AND EQUIPMENT
1. Concept and typology of property, plant and equipment
2. Initial measurement of property, plant and equipment
3. Subsequent measurement of property, plant and equipment: value adjustments
4. Derecognition of property, plant and equipment
5. Investment property
Lesson 3. INTANGIBLE ASSETS
1. Concept and typology of intangible assets
2. General measurement criteria for intangible assets
3. Specific measurement standards for intangible assets
4. Non-current assets held for sale
Lesson 4. EQUITY
1. Concept and composition of equity
2. Share capital: concept, constitution and modification of share capital
3. Reserves: concept, typology, creation and use
4. Other components of equity
Lesson 5. FINANCIAL LIABILITIES
1. Financial instruments: Concept, classification and general measurement criteria
2. Recognition and initial measurement of financial liabilities
3. Charges from financial liabilities
4. Subsequent measurement of financial liabilities
5. Derecognition of financial liabilities
6. Financial liabilities arising from finance lease
Lesson 6. FINANCIAL ASSETS
1. Recognition and initial measurement of financial assets
2. Periodic returns from financial assets
3. Subsequent measurement of financial assets
4. Derecognition of financial assets
Tema 7. OPERATING DEBTORS AND CREDITORS: ACCOUNTS RECEIVABLE AND PAYABLE
1. Operating debtors: Concept and classification
2. Trade receivables
3. Other operating debtors
4. Operating creditors: Concept and classification
5. Trade payables
6. Other operating creditors
Lesson 8. PROVISIONS AND OTHER SITUATIONS OF UNCERTAINTY
1. Provisions: Concept and typology
2. Recognition and measurement of provisions
3. Changes in accounting criteria, accounting estimates and correction of errors
Lesson 9. INCOME, EXPENSES AND PROFIT OR LOSS
1. Concept and classification of income and expenses
2. Income allocated to profit or loss. Revenue from sales and the rendering of services
3. Expenses allocated to profit or loss
4. Income tax
5. Accruals and prepayments
6. Profit or loss for the financial year
PART III. ANNUAL ACCOUNTS
Lesson 10. ANNUAL ACCOUNTS
1. Objective and scope of the annual accounts
2. Disclosure requirements in the annual accounts
3. Preparation of the annual accounts
4. Structure of the annual accounts
5. Components of the annual accounts
5.4. Course planning and calendar
Timetable for theoretical and practical classes and presentation of assignments:
The distribution of activities throughout the term will be as follows:
- Weekly sessions of theoretical classes (2 hours per week).
- Weekly sessions of practical classes (2 hours per week).
- Throughout the term, four hours of the weekly sessions of practical or theoretical classes will be used to carry out the continuous assessment exams (see the “Assessment” section).
5.5. Bibliography and recommended resources
||España. Ministerio de Economía y Hacienda. Nuevo Plan General de Contabilidad: [RD 1514-2007, de 16 de noviembre, Ministerio de Economía y Hacienda (BOE 278- 2007 de 20 de nov.) . Las Rozas (Madrid) : Especial Directivos, 2007 [disponible a texto completo. Mirar URL]
||Contabilidad financiera : el Plan General de Contabilidad / Antonio Socías Salvá ... [et al.] . - 3ª ed. Madrid : Pirámide, D.L. 2015
||Contabilidad financiera II / José Luis Wanden-Berghe Lozano (coord.) ; Enrique R. Blanco Richart ... [et al.] . Madrid : Pirámide , D.L. 2012
||Fundamentos de contabilidad financiera / coordinador, Vicente Montesinos Julve . - 2ª ed. Madrid : Pirámide, 
||Manual del nuevo Plan General Contable / coordinadores, Sotero Amador Fernández, Javier Romano Aparicio . - 3ª ed. Madrid : Centro de Estudios Financieros, D.L. 2008
|LISTADO DE URLs:
||Ley 22/2015, de 20 de julio, de Auditoría de Cuentas.
||Real Decreto 602/2016, de 2 de diciembre, por el que se modifican el Plan General de Contabilidad aprobado por el Real Decreto 1514/2007, de 16 de noviembre
||Real Decreto 1514/2007, de 16 de noviembre, por el que se aprueba el Plan General de Contabilidad (BOE n. 278 de 20/11/2007)