Fundamentals of accounting
Description: The basics of accounting are studied, starting with consideration of the role of accounting in the enterprise management system, basic concepts and principles of accounting, balance sheet, system of accounts and double entry, systematic accounting, moving on to issues of current and long-term assets, liabilities and capital of an economic entity. Fundamentals of Accounting is an initial accounting course for students of accounting specialties of higher educational institutions, which is based on generally accepted accounting standards and financial reporting.
Amount of credits: 5
Пререквизиты:
- Economic theory
Course Workload:
| Types of classes | hours |
|---|---|
| Lectures | 15 |
| Practical works | 30 |
| Laboratory works | |
| SAWTG (Student Autonomous Work under Teacher Guidance) | 30 |
| SAW (Student autonomous work) | 75 |
| Form of final control | Exam |
| Final assessment method |
Component: Component by selection
Cycle: Base disciplines
Goal
- Training specialists with the skills and techniques to maintain accounting records in organizations in accordance with current national and international standards, accounting principles, and regulatory documents.
Objective
- - Learn the fundamentals of accounting; - Gain a clear understanding of the role of accounting in economic management, its purpose, and place in the production and economic activities of an entity; - Understand the organizational and legal framework for accounting and financial reporting in the Republic of Kazakhstan; - Know accounting standards, the content of accounting activities, their techniques and methods, and their objectives and methods; - Be able to practically apply the acquired knowledge in the field of accounting.
Learning outcome: knowledge and understanding
- demonstrate an understanding of the fundamental concepts and principles of accounting and financial reporting
Learning outcome: applying knowledge and understanding
- apply the acquired knowledge to organize documentation and inventory of accounting objects in accordance with the requirements of national and international financial reporting standards
Learning outcome: formation of judgments
- critically evaluate the business processes and operations of an economic entity and develop proposals for their improvement, taking into account the criteria of efficiency, risks and possible socio-economic consequences
Learning outcome: communicative abilities
- have professional and intercultural communication skills
Learning outcome: learning skills or learning abilities
- possess the skills to acquire new specialized knowledge necessary for professional activity
Teaching methods
1) Problem-based and project-based learning technologies; Project-based learning challenges teachers to ensure the involvement of all students in problematic situations and in every lesson. This means creating a problem-oriented lesson scenario, presenting information to find a solution to the problem in a structured and systematic manner. 2) Case study method (situation analysis); Case study technology helps develop students' creativity, develops skills for completing complex tasks in small groups, and helps specialists successfully master the ability to analyze unforeseen situations and independently develop decision-making algorithms. 3) Information and communication technologies (including distance learning). The use of modern information and communication technologies enables optimal interaction between students and teachers to achieve learning outcomes. 4) Communication technologies (discussion, brainstorming as a form of creative, collaborative work to find solutions to problems).
Assessment of the student's knowledge
Teacher oversees various tasks related to ongoing assessment and determines students' current performance twice during each academic period. Ratings 1 and 2 are formulated based on the outcomes of this ongoing assessment. The student's learning achievements are assessed using a 100-point scale, and the final grades P1 and P2 are calculated as the average of their ongoing performance evaluations. The teacher evaluates the student's work throughout the academic period in alignment with the assignment submission schedule for the discipline. The assessment system may incorporate a mix of written and oral, group and individual formats.
| Period | Type of task | Total |
|---|---|---|
| 1 rating | Preparing a presentation, essay | 0-100 |
| Problem solving, analysis of practical situations | ||
| Problem solving, analysis of practical situations | ||
| Problem solving, analysis of practical situations | ||
| Testing | ||
| 2 rating | Preparing a presentation, essay | 0-100 |
| Problem solving, analysis of practical situations | ||
| Problem solving, analysis of practical situations | ||
| Problem solving, analysis of practical situations | ||
| Testing | ||
| Total control | Exam | 0-100 |
The evaluating policy of learning outcomes by work type
| Type of task | 90-100 | 70-89 | 50-69 | 0-49 |
|---|---|---|---|---|
| Excellent | Good | Satisfactory | Unsatisfactory | |
| Depending on the type of assignment, various types of work are assessed from 5 to 30 points. Regardless of the number of points, the assessment uses a 100% scale according to the following criteria. | A grade of 90-100% is awarded for excellent work, i.e., for complete (with detailed explanations and proper presentation), original and correct answers and high-quality presentation of the work, as well as for a complete, detailed, correct answer to questions on the course content. | A grade of 70-80-89% is awarded if the questions on the course content are answered correctly and accurately, and the tests are completed competently, but if any of the above-mentioned distinguishing features are missing, such as detailed explanations or explanations, or high-quality presentation. | A grade of 60-69% is awarded if there are individual inaccuracies in the answers to questions on the course content and in the completion of tests, or if there are comments on independent work of a non-fundamental nature (typos, random arithmetic errors, grammatical errors); a grade of 50-59% is awarded in cases where the answers and tests contain inaccuracies and errors indicating an insufficient understanding of the questions and requiring additional reference to the subject materials | A grade of 90-100% is awarded for excellent work, i.e., for complete (with detailed explanations and proper presentation), original and correct answers and high-quality presentation of the work, as well as for a complete, detailed, correct answer to questions on the course content. |
Evaluation form
The student's final grade in the course is calculated on a 100 point grading scale, it includes:
- 40% of the examination result;
- 60% of current control result.
The final grade is calculated by the formula:
| FG = 0,6 | MT1+MT2 | +0,4E |
| 2 |
Where Midterm 1, Midterm 2are digital equivalents of the grades of Midterm 1 and 2;
E is a digital equivalent of the exam grade.
Final alphabetical grade and its equivalent in points:
The letter grading system for students' academic achievements, corresponding to the numerical equivalent on a four-point scale:
| Alphabetical grade | Numerical value | Points (%) | Traditional grade |
|---|---|---|---|
| A | 4.0 | 95-100 | Excellent |
| A- | 3.67 | 90-94 | |
| B+ | 3.33 | 85-89 | Good |
| B | 3.0 | 80-84 | |
| B- | 2.67 | 75-79 | |
| C+ | 2.33 | 70-74 | |
| C | 2.0 | 65-69 | Satisfactory |
| C- | 1.67 | 60-64 | |
| D+ | 1.33 | 55-59 | |
| D | 1.0 | 50-54 | |
| FX | 0.5 | 25-49 | Unsatisfactory |
| F | 0 | 0-24 |
Topics of lectures
- The history of accounting as a science
- Accounting as an information system
- Subject and method of accounting
- Balance Sheet
- Primary observation is the foundation of an accounting information system
- Accounts and double entry
- Cost measurement and current accounting
- Accounting forms
- Fundamentals of Financial Reporting
- Professional ethics of accountants
- Cash accounting
- Accounts receivable accounting
- Inventory accounting
- Fixed asset accounting
Key reading
- Закон Республики Казахстан «О бухгалтерском учете и финансовой отчетности» от 28.02.2007, № 234 (с изменениями и дополнениями на 01.01.2020 г.).
- Типовой план счетов: Приказ Министра финансов Республики Казахстан от 02.10.2018 № 877.
- Кабылова Н.К. Бухгалтер (Основы бухгалтерского учета): учебник / Н. К. Кабылова, Ш. А. Доспалинова, Е. Н. Оразалинов. - Астана: Фолиант, 2011. - 372 с.
- Назарова В.Л. Бухгалтерский учет. Учебное пособие - Алматы: Экономика, 2011.
- Проскурина В.П. Бухгалтерский учет от азов до баланса: практ. пособие / В.П. Проскурина.- Изд. 5-е, перераб.- Алматы: LEM, 2014.- 320 с.
Further reading
- Приказ Министра Финансов Республики Казахстан от 31 марта 2015г., № 241 «Об утверждении Правил ведения бухгалтерского учета»
- Миржакыпова С.Т., Аппакова Г.Н. Основы бухгалтерского учета. Учебное пособие для вузов – Алматы, «Издательство Экономика», 2009. – 186 с.
