Curricular Unit:			Code:
General Accounting I			870CG1
Year:	Level:	Course:	Credits:
1	Undergraduate	Commercial Management and Accounting	8 ects
Learning Period:		Language of Instruction:	Total Hours:
		Portuguese/English	104
Learning Outcomes of the Curricular Unit:
The aim of this subject is the understanding of the accounting concepts, normalization process and the accounting procedures from the opening of the accounts to the presentation of the financial statements. In the end the student should be capable of making accounting records using accounts from the different classes in the Portuguese Official Accounting Plan, as well as preparing the main financial statements.
Syllabus:
Historic evolution, concepts, purposes and accounting divisions. Accounting and the decision process. Patrimony. Inventory. Account. Main financial statements. Accounting standardization in Portugal. Accountancy Standardization System. Other accounting standardization models in use in Portugal. Bookkeeping: from the opening of accounts to the presentation of accounting statements.
Demonstration of the Syllabus Coherence with the Curricular Unit's Objectives:
Recognize the importance of accounting in the decision-making process, by all those with an interest in the company (users). Be able to make a conceptual framework adequate to Accounting (historical evolution, objectives and their divisions), master basic notions associated with it (assets, inventory, accounts registration rules for the various types of accounts, double entry method) and the main financial statements. Understand the process of international accounting standardization and harmonization and its relevance in many different levels, in particular to the comparability of financial information from companies. Master the constituent parts of the SNC and, in a comparative way in terms of its applicability, of other current accounting standards in Portugal. Make records involving accounts of the different classes of the SNC as well as the operations in the end of the period and the preparation and presentation of financial statements.
Teaching Methodologies (Including Evaluation):
The teaching methodology is explanatory and participatory in nature and includes the presentation of concepts, accompanied by practical examples, and the resolution and analysis of case studies. The evaluation of skills will be measured based on the realization of 2 intermediate assessment tests (with a weight of 50% each in the final grade).
Demonstration of the Coherence between the Teaching Methodologies and the Learning Outcomes:
The concept of business is addressed, the relationships established inside and with the outside identified and the concepts of cash flows and real flows are defined. A brief summary of the historical evolution of accounting, its definition and its branches – general and costs – is made. Once highlighted the importance of accounting as an information system, some basic concepts are presented: assets (or equity), property facts (interchangeable and modifiable), assets, liabilities and inventory, among others. The concept, characteristics, classification and accounts registration rules are introduced and the fundamental equation of the balance is deduced. The balance sheet and the profit and loss statement are presented and conceptualized as the main accounting statements that enable decision making by all those who have an interest in the business (users). The advantages of accounting standardization and harmonization are presented and a brief history of accounting standardization in Portugal is made from the adoption of POC to the present day. The SNC study begins with the presentation of its key elements: Conceptual Framework, Basis for Presentation of Financial Statements, Financial Statements Forms, Accounts Code, Accounting and Financial Reporting Standards, Other Accounting Standards and Interpretative Rules. Other models of accounting standards adopted in Portugal applicable to entities of different types and characteristics are also addressed. Accounting records – from the opening of the accounts to the preparation and presentation of financial statements – are addressed through the registration of facts over a period of time and practical cases involving entries in accounts of the different classes of SNC – deposits related to net funds, inventory and other goods and services purchases, investment acquisitions and processing and payment of wages – are solved, always in accordance with the VAT Code. The value of this tax for the period is also determined. In terms of year-end adjustments case studies that include inventories, creation and full or partial reduction of impairments, amortization and depreciation expenses and exchange rate differences are analyzed. Case studies related to the process of closure of accounts and the preparation and making of financial statements are solved, namely balance sheet prior to rectifications and records for the computation of the net result for the period. This methodology allows the achievement of the specific objectives set in each point and that the students gain as general competences: (i) the capacity and autonomy to solve problems; (ii) the ability to apply knowledge and (iii) the capacity to work independently and in groups.
Reading:
Borges, A., Rodrigues, A. e Rodrigues, R. (2014). Elementos de Contabilidade Geral. 26ª Edição, Lisboa, Áreas Editora. Código das Sociedades Comerciais. Aprovado pelo Decreto-lei 262/1986. [Em linha]. Disponível https://dre.pt/web/guest/legislacao-consolidada/-/lc/34443975/view?p_p_state=maximized Costa, C. B. e Alves, G. C. (2014). Contabilidade Financeira. 9ª Edição, Lisboa, Rei dos Livros. Pires, J. e Gomes, J. (2015). SNC – Teoria e Prática. 5ª Ed., Porto, Vida Económica. Rodrigues, J. (2018). Sistema de Normalização Contabilística – SNC Explicado. 6ª Edição, Porto, Porto Editora. Sistema de Normalização Contabilística. Aprovado pelo Decreto-lei 158/2009. [Em linha]. Disponível em http://www.cnc.min-financas.pt/snc.html