BACHELOR´S DEGREE IN MANAGEMENT AND BUSINESS ADMINISTRATION

According to the Bachelor´s Degree in Management and Business Administration study plan, Introduction to Accounting is classified into the module of Accounting and deals with the subject of Financial Accounting. As students have no previous exposure to accounting and financial statements, the course will equip them with basic skills and knowledge of the key concepts of accounting that will be very useful not only in subsequent accounting related courses, but also in order to earn their Bachelor´s Degree and succeed in the professional environment for which they are training.

The course is concerned with Financial Accounting which provides information designed to satisfy the needs of users outside the reporting company, enabling students to understand the accounting principles and procedures underlying a company´s financial statements. This involves preparing and interpreting business accounting information as well as becoming familiar with the Spanish Generally Accepted Accounting Principles (GAAP).

All in all, it is an introductory course which combines theoretical and practical aspects, where students will:

• Learn the key concepts of accounting.
• Understand the need for generally accepted accounting principles.
• Receive a firm grounding in the accounting principles and procedures underlying the company´s financial statements that will prepare them to carry out the bookkeeping process and transaction analysis.
• Develop skills to complete the accounting cycle.
• Be equipped with the knowledge necessary to prepare and present financial statements.

BACHELOR´S DEGREE IN ACCOUNTING AND FINANCE  

According to the Bachelor´s Degree in Accounting and Finance study plan, Introduction to Accounting is classified into the module of Accounting and deals with the subject of Financial Accounting. As students have no previous exposure to accounting and financial statements, the course will equip them with basic skills and knowledge of the key concepts of accounting that will be very useful not only in subsequent accounting related courses, but also in order to earn their Bachelor´s Degree and succeed in the professional environment for which they are training. 

The course is concerned with Financial Accounting which provides information designed to satisfy the needs of users outside the reporting company, enabling students to understand the accounting principles and procedures underlying a company´s financial statements. This involves preparing and interpreting business accounting information as well as becoming familiar with the Spanish Generally Accepted Accounting Principles (GAAP), thus allowing students to understand how the accounting system provides reliable and relevant information required both by company managers and external users in order to make informed business decisions. 

All in all, it is an introductory course which combines theoretical and practical aspects, where students will:

• Learn the key concepts of accounting.
• Understand the need for generally accepted accounting principles.
• Receive a firm grounding in the accounting principles and procedures underlying the company´s financial statements that will prepare them to carry out the bookkeeping process and transaction analysis.
• Develop skills to complete the accounting cycle.
• Be equipped with the knowledge necessary to prepare and present financial statements. 

Obviously, it is essential that students gain a sound grounding in accounting basics, as Introduction to Accounting will lay the foundations on which students specializing in Accounting and Finance must build in subsequent courses with a view to successfully completing their degree.

BACHELOR´S DEGREE IN ECONOMICS

According to the Bachelor´s Degree in Economics study plan, Introduction to Accounting is classified into the module of Business Organization and deals with the subject of Accounting. 

The course is concerned with Financial Accounting which provides information designed to satisfy the needs of users outside the reporting company, enabling students to understand the accounting principles and procedures underlying a company´s financial statements. This involves preparing and interpreting business accounting information as well as becoming familiar with the Spanish Generally Accepted Accounting Principles (GAAP). As students have no previous exposure to accounting and financial statements, the course will equip them with basic skills and knowledge of the key concepts of accounting that will be very useful not only in subsequent accounting related courses, but also in order to earn their Bachelor´s Degree and succeed in the professional environment for which they are training. 

All in all, it is an introductory course which combines theoretical and practical aspects, where students will:

• Learn the key concepts of accounting.
• Understand the need for generally accepted accounting principles.
• Receive a firm grounding in the accounting principles and procedures underlying the company´s financial statements that will prepare them to carry out the bookkeeping process and transaction analysis.
• Develop skills to complete the accounting cycle.
• Be equipped with the knowledge necessary to prepare and present financial statements. 

BACHELOR´S DEGREE IN LABOUR RELATIONS AND HUMAN RESOURCES

According to the Bachelor´s Degree in Labour Relations and Human Resources study plan, Introduction to Accounting is classified into the topic of Work Organization and Human Resource Management. 

As students have no previous exposure to accounting and financial statements, the course will equip them with basic skills and knowledge of the key concepts of accounting that will be very useful not only in subsequent accounting related courses, but also in order to earn their Bachelor´s Degree and succeed in the professional environment for which they are training. 

The course is concerned with Financial Accounting which provides information designed to satisfy the needs of users outside the reporting company, enabling students to understand the accounting principles and procedures underlying a company´s financial statements. This involves preparing and interpreting business accounting information as well as becoming familiar with the Spanish Generally Accepted Accounting Principles (GAAP). 

All in all, it is an introductory course which combines theoretical and practical aspects, where students will:

• Learn the key concepts of accounting.
• Understand the need for generally accepted accounting principles.
• Receive a firm grounding in the accounting principles and procedures underlying the company´s financial statements that will prepare them to carry out the bookkeeping process and transaction analysis.
• Develop skills to complete the accounting cycle.
• Be equipped with the knowledge necessary to prepare and present financial statements. 

The course requires no previous knowledge.

BACHELOR´S DEGREE IN MANAGEMENT AND BUSINESS ADMINISTRATION

 The general competencies which students will develop by taking Introduction to Accounting include:

• Capability for analysis and synthesis.
• Learning capability.
• Capability for fluent oral and written communication in mother tongue.
• Knowledge and understanding of other languages, mainly English.
• Skill at searching for and analyzing information in the working environment.
• Capability for using ICT tools.
• Capability for working independently.
• Capability for teamwork.
• Capability for working in an international context.
• Critical and self-critical capability.
• Decision-making capability.
• Capability for putting knowledge into practice.
• Creativity for finding new ideas and solutions.
• Organization and planning capability.
• Adaptability.
• Concern for quality and good work.
• Values and ethics.
• Integration of democratic values and of the culture of peace in the working environment.
• Integration of the principles of equal treatment and opportunities for men and women in the working environment.
• Integration of the principles of equal opportunities and universal access for the disabled in the working environment.

Students will also develop the following specific competencies on the course:

• Apply and interpret national and international accounting regulations.
• Draw up and analyze internal and external accounting information for management control and decision-making.
• Transmit information, ideas, problems and solutions in the area of business management to a specialist or non-specialist audience.
• Issue advisory reports on specific company and market situations.

As far as learning outcomes are concerned, the knowledge and skills that students will possess upon successful completion of the course will enable them to:

• Understand the accounting principles and procedures underlying the company´s financial statements at a basic level and apply them in the bookkeeping process and transaction analysis.
• Complete the accounting cycle, determining accounting profit and producing the annual financial statements.
• Promote ethical behavior in accounting and ensure standards of professional conduct.
• Interpret company annual accounts.
• Interpret business financial statements to evaluate the financial position of real companies, the success of their operations, and gain an insight into their future performance.
• Identify, record and report relevant economic and financial data to allow informed business decision making.

BACHELOR´S DEGREE IN ACCOUNTING AND FINANCE

The general competencies which students will develop by taking Introduction to Accounting include:

• Capability for analysis and synthesis.
• Organization and planning capability.
• Capability for oral and written communication in the mother tongue.
• Capability for oral and written communication in a foreign language.
• Capability for using IT tools relating to the area of study.
• Skill for finding, analyzing and interpreting information from different sources.
• Problem-solving capability.
• Decision-making capability.
• Capability for teamwork.
• Capability for working in an international context.
• Capability for working in diverse and multi-cultural environments.
• Critical and self-critical capability.
• Ethical commitment at work and motivation to achieve quality.
• Capability for independent learning.
• Adaptability.
• Leadership capability.
• Initiative and enterprise.
• Concern for environmental and social aspects, equal treatment and respect for democratic values.
• Capability for putting knowledge into practice. 

Students will also develop the following specific competencies on the course:

• Understand the mechanisms involved in the processing of business information.
• Apply and interpret accounting regulations.
• Provide advisory services on accounts and taxation.
• Analyse and interpret the company's financial statements.
• Draw up accounting information for decision-making.
• Apply mercantile regulations in the drafting of accounts.
• Know the economic environment of the business activity. 

As far as learning outcomes are concerned, the knowledge and skills that students will possess upon successful completion of the course will enable them to:

• Understand the accounting principles and procedures underlying the company´s financial statements at a basic level and apply them in the bookkeeping process and transaction analysis.
• Complete the accounting cycle, determining accounting profit and producing the annual financial statements.
• Promote ethical behavior in accounting and ensure standards of professional conduct.
• Interpret company annual accounts.
• Interpret business financial statements to evaluate the financial position of real companies, the success of their operations, and gain an insight into their future performance.

BACHELOR´S DEGREE IN ECONOMICS

The general competencies which students will develop by taking Introduction to Accounting include:

• Capability for analysis and synthesis.
• Learning capability.
• Capability for fluent oral and written communication in mother tongue.
• Knowledge and understanding of other languages, mainly English.
• Skill at searching for and analyzing information in the working environment.
• Capability for using ICT tools.
• Capability for working independently.
• Capability for teamwork.
• Capability for working in an international context.
• Critical and self-critical capability.
• Decision-making capability.
• Capability for putting knowledge into practice.
• Creativity for finding new ideas and solutions.
• Organization and planning capability.
• Adaptability.
• Concern for quality and good work.
• Values and ethics.
• Integration of democratic values and of the culture of peace in the working environment.
• Integration of the principles of equal treatment and opportunities for men and women in the working environment.
• Integration of the principles of equal opportunities and universal access for the disabled in the working environment. 

Students will also develop the following specific competencies on the course:

• Analyze and interpret accounting information for decision-making. 

As far as learning outcomes are concerned, the knowledge and skills that students will possess upon successful completion of the course will enable them to:

• Understand the accounting principles and procedures underlying the company´s financial statements at a basic level and apply them in the bookkeeping process and transaction analysis.
• Complete the accounting cycle, determining accounting profit and producing the annual financial statements.
• Promote ethical behavior in accounting and ensure standards of professional conduct.
• Interpret company annual accounts.
• Interpret business financial statements to evaluate the financial position of real companies, the success of their operations, and gain an insight into their future performance.
• Identify, record and report relevant economic and financial data to allow informed business decision making.

BACHELOR´S DEGREE IN LABOUR RELATIONS AND HUMAN RESOURCES

The general competencies which students will develop by taking Introduction to Accounting include:

• Information management capability.
• Problem-solving capability.
• Capability for analysis and synthesis.

Students will also develop the following specific competencies on the course:

• Apply knowledge on business organization and management.
• Apply knowledge of social and labour auditing.
• Capability for communicating in writing and orally using the appropriate terminology of labour relations and human resources.
• Capability for applying ICTs in different areas of labour relations and human resources.
• Capability for applying different techniques for socio-labour evaluation and audits.
• Put knowledge on labour relations and human resources into practice. 

As far as learning outcomes are concerned, the knowledge and skills that students will possess upon successful completion of the course will enable them to:

• Understand the accounting principles and procedures underlying the company´s financial statements at a basic level and apply them in the bookkeeping process and transaction analysis.
• Complete the accounting cycle, determining accounting profit and producing the annual financial statements.
• Promote ethical behavior in accounting and ensure standards of professional conduct.
• Interpret company annual accounts.

Following is the abbreviated programme of the course Introduction to Accounting:

Abbveviated programme

Lesson 1.- Definition and branches of Accounting

Lesson 2.- Corporate net worth

Lesson 3.- The bookkeeping process

Lesson 4.- Generally Accepted Accounting Principles (GAAP)

Lesson 5.- The accounting cycle

Lesson 6.- Assets

Lesson 7.- Shareholders´ equity and liabilities

Lesson 8.- The determination of accounting profit

Lesson 9.- Annual accounts

The detailed programme of the course, along with the specific objectives of each lesson are listed below:

Detailed programme and lesson objectives

Lesson 1.- Definition and branches of Accounting

1.1.      The need for economic information

1.2.       Definition of Accounting

1.3.       Branches of Accounting

Overall objective of the lesson:

Lesson 2.- Corporate net worth

2.1.      Business activities

2.2.      Corporate assets and corporate sources of financing

2.3.      Categories of assets, liabilities and shareholders´ equity

2.4.      Order of presentation in the financial statements

Overall objective of the lesson:

Lesson 3.- The bookkeeping process

3.1.      The accounting method

3.2.      Accounts as an instrument of representation and measurement

3.3.      Classifications of accounts

3.4.      Recording of business transactions

Overall objective of the lesson:

Lesson 4.- Generally Accepted Accounting Principles (GAAP)

4.1.      Harmonization of international accounting standards

4.2.      Structure of the Spanish General Accounting Plan

4.3.      Accounting principles

Overall objective of the lesson:

Lesson 5.- The accounting cycle

5.1.      The opening phase

5.2.      The recording phase

5.3.      The closing and summarizing phase

Overall objective of the lesson:

Lesson 6.- Assets

6.1.      Classification of assets

6.2.      Inventories

6.3.      Financial assets

6.4.      Tangible and intangible fixed assets

Overall objective of the lesson:

Lesson 7.- Shareholders´ equity and liabilities

7.1.      Shareholders´ equity

7.2.      Liabilities

Overall objective of the lesson:

Lesson 8.- The determination of accounting profit

8.1.      Income and expenses

8.2.      The end-of-period adjusting process

Overall objective of the lesson:

Lesson 9.- Annual accounts

 9.1.      Preparation of annual accounts

 9.2.      Interpreting annual accounts

Overall objective of the lesson:

The teaching-learning methodology used in the course Introduction to Accounting is based on a combination of face-to-face and non-contact activities, in both cases encouraging active student participation by means of the introduction of elements of dialogue and argument during the classes, with a view to assessing their understanding and monitoring on the topics explained.

In this discipline theory and practice are perfectly integrated, so any teaching method for accounting must necessarily have a strong practical orientation on a sound theoretical basis, where the student tries to face and confront economic reality by applying theoretical knowledge. Accordingly, in-class practical activities are set up which involve the participative discussion and resolution of exercises wherein students take an active role, consolidating previously acquired knowledge and identifying gaps and doubts that may arise upon its implementation.

The basic material used in the development of this course includes the relevant laws and regulations, a course theory manual and the practice exercises booklet prepared by the faculty members teaching the course, supplemented with other material prepared by teachers. In order to support teaching, students are provided with other resources which complement both the theoretical and practical aspects of the subject and include references to useful books as well as national and international websites from which they may obtain relevant and updated information. In addition to the material listed above, teachers will make other useful study material available to students through the Virtual Campus.

 As described below, the proposed methodology of the course is constituted by the following activities:

•  Work requiring attendance: 60 hours

 – Lectures. Lectures are delivered to the whole class at the same time and seek to present the key concepts and theoretical aspects of the subject, which are illustrated with numerous examples. The course will foster active participation and student engagement as an enhancement of lectures. The development of lectures is based on the course material which will be available to students in advance of lectures, so that they can prepare lessons before they are delivered in class.

– In-class practical sessions. Each class group is divided into two subgroups for the purpose of conducting in-practical sessions. In-class practical activities involve discussing and solving practice exercises which will help students consolidate their understanding of the subject and develop their capability for analysis by applying previously acquired theoretical knowledge. Active-learning techniques will be used aimed at encouraging student participation and interpersonal interaction among students as well as between the teacher and students.

– Evaluation session. Tests consisting of theoretical questions and practice exercises to assess student progress.

•  Work not requiring attendance: 90 hours

– Individual work. It consists of the following activities: reading the lecture notes in advance of class and the subsequent study of these once they have been dealt with in the lectures; doing the practice exercises at home before in-class practical sessions and the subsequent study of these once solutions have been given and discussed in class; completing homework assignments and carrying out, where appropriate, any other out-of-class activities; and preparing for the final exam.

The following is a summary of hours for each activity:

Only for illustrative purposesa summary table of the hours of the various activities allocated by lessons is presented below:

If deemed necessary by health authorities, in the event of serious unforeseen circumstances, teaching activities may be conducted online.

The following methods will be used to assess student performance:

1.- Continuous assessment. It involves analyzing the various stages the student will pass through during the learning process so as to assess student progress throughout the course and then produce a final evaluation result from these periodic assessments.This method of assessment is based on active engagement of students in different activities, objective follow-up tests and theoretical and practical quizzes, solving cases, exercises and practical activities, writing reviews about readings and other material, as well as individual and group presentations. The purpose of continuous assessment is to assess the level of knowledge and learning outcomes achieved by students at each point in time. Since the content of this course is cumulative, students must demonstrate during the course that they understand and assimilate the subject by accomplishing certain goals and learning outcomes when these are required and due. Therefore, continuous assessment tests and activities shall not be repeatable nor reassessable, that is to say, continuous assessment does not allow for evaluation after the course due dates have passed.

2.- Final exam. Tests will consist of questions regarding the theoretical aspects of the subject and practice exercises. It is the overall assessment made at the end of the learning process, which quantifies and evaluates student performance through a grade. Its primary purpose will be to measure the level of student achievement at the end of the course.  Furthermore, since students must necessarily demonstrate understanding of basic accounting concepts, the final exam will specifically contain some basic questions regarding the fundamentals of the subject, which need to be satisfactorily answered in order to be fit to pass the course.

Grading system

The final grade in the May and June 2023 examination sittings will be a weighted average of scores from the continuous assessment and the final exam with a weighting of 40% for the continuous assessment and 60% for the final exam. Continuous assessment tests and activities shall not be repeated nor reassessed, and the results of the continuous assessment carried out during the course will not be modified, and will be taken into account to determine the final grade for each one of the above mentioned examinations.

Nonetheless, the continuous assessment mark expires at the end of each academic year. Therefore, the final exam scheduled for January 2023 will be worth 10 points and account for 100% of the final grade.

 Summary Table 1

Continuous assessment tests and activities will be carried out during lectures and in-class practical sessions, and students must attend classes in the group to which they have officially been assigned.

The maximum score on the continuous assessment (4 points out of 10) can be earned as follows:

• During lectures and in-class practical sessions, throughout the semester in which the course is taught, students will take objective tests (which will comprise questions regarding the theoretical aspects of the subject and practice exercises) accounting for a maximum of 4 points. The purpose of these tests is for the student to demonstrate the skills acquired at specific points in time during the course; therefore, these tests are not repeatable nor reassessable. In tests with multiple-choice and true/false questions, wrong answers may or may not be penalized.

  Summary Table 2

Successful completion of the course is achieved when the student satisfactorily answers the basic questions contained in the final exam regarding the fundamentals of the subject and attains a final passing grade of 5 points or above (out of 10).

If deemed necessary by health authorities, in the event of serious unforeseen circumstances, the assessment of student performance may be conducted online.

Please be advised that the University of Oviedo Code of Ethics, which is available at the following link: Universidad de Oviedo - Código ético (uniovi.es), is in force and shall apply.

Part-time students assessment

Nevertheless, pursuant to article 7 of the regulations governing the assessment of learning outcomes and competencies acquired by students, those part-time students who have successfully proven their eligibility may undergo one test only which will be scheduled on the same date as the final exam above referred for the rest of students. The maximum score on this test, the only one that part-time students have to take, is 10 points and successful completion of the course is achieved when the student attains a final passing grade of 5 points or above.

If deemed necessary by health authorities, in the event of serious unforeseen circumstances, the assessment of student performance may be conducted online.

Please be advised that the University of Oviedo Code of Ethics, which is available at the following link: Universidad de Oviedo - Código ético (uniovi.es), is in force and shall apply.

Laws and regulations

Real Decreto 1514/2007, de 16 de noviembre, por el que se aprueba el Plan General de Contabilidad (BOE de 20 de noviembre).

Real Decreto 1515/2007, de 16 de noviembre, por el que se aprueba el Plan General de Contabilidad de Pequeñas y Medianas Empresas y los criterios contables específicos para microempresas (BOE de 21 de noviembre).

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; el Plan General de Contabilidad de Pequeñas y Medianas Empresas aprobado por el Real Decreto 1515/2007, de 16 de noviembre; las Normas para la Formulación de Cuentas Anuales Consolidadas aprobadas por el Real Decreto 1159/2010, de 17 de septiembre; y las Normas de Adaptación del Plan General de Contabilidad a las entidades sin fines lucrativos aprobadas por el Real Decreto 1491/2011, de 24 de octubre (BOE de 17 de diciembre).

Real Decreto 1/2021, de 12 de enero, por el que se modifican el Plan General de Contabilidad aprobado por el Real Decreto 1514/2007, de 16 de noviembre; el Plan General de Contabilidad de Pequeñas y Medianas Empresas aprobado por el Real Decreto 1515/2007, de 16 de noviembre; las Normas para la Formulación de Cuentas Anuales Consolidadas aprobadas por el Real Decreto 1159/2010, de 17 de septiembre; y las normas de adaptación del Plan General de Contabilidad a las entidades sin fines lucrativos aprobadas por el Real Decreto 1491/2011, de 24 de octubre (BOE de 30 de enero).

Real Decreto Legislativo 1/2010, de 2 de julio, por el que se aprueba el texto refundido de la Ley de Sociedades de Capital (BOE de 3 de julio y sus modificaciones posteriores).

Basic bibliography in Spanish  

Varios Autores (2017): “Manual de Introducción a la Contabilidad”, 3ª EDICIÓN, Ediuno Servicio de Publicaciones de la Universidad de Oviedo, Oviedo.

Varios Autores (2013): “Supuestos Prácticos de Introducción a la Contabilidad”, Ediuno, Servicio de Publicaciones de la Universidad de Oviedo, Oviedo.

Supplementary bibliography in Spanish

Arquero Montano, J. L.; Jiménez  Cardoso, S. M. y Ruiz Albert, I. (2011): “Introducción a la Contabilidad”, Pirámide, Madrid.

Dieguez Soto, J. (2015): “Contabilidad Financiera. El Plan General de Contabilidad”, Pirámide, Madrid.

García Benau, M. A. (2011): “Introducción a la Contabilidad”, Centro de Estudios Financieros, Madrid.

Larrán Jorge, M. (Coord.) (2009): “Fundamentos de Contabilidad Financiera. Teoría y Práctica”, Pirámide, Madrid.

López Díaz, A. (Dir.) (2008): “Manual de Contabilidad Financiera”, Universitas, Madrid.

Montesinos Julve, V. (2010): ““Fundamentos de Contabilidad Financiera”, Pirámide, Madrid.

Rodriguez Ariza, L. y López Pérez, M.V. (2015): “Contabilidad General. Teoría y Práctica”, Pirámide, Madrid.

Socias Salvá, a. y otros Autores (2016): “Contabilidad Financiera. El Plan General de Contabilidad”, 3ª ed, 1ª reimpr, Pirámide, Madrid.

Socias Salvá, a. y otros Autores (2011): “Contabilidad Financiera. El Plan General de Contabilidad. Supuestos”, Pirámide, Madrid.

Varios Autores (2009a): “Manual de Contabilidad Financiera y Analítica I”, Servicio de Publicaciones de la Universidad de Oviedo, Oviedo.

Varios Autores (2009b): “Manual de Contabilidad Financiera y Analítica II”, Servicio de Publicaciones de la Universidad de Oviedo, Oviedo.

Wanden-Berghe, J.L. y Fernández Daza, E. (2012): “Introducción a la Contabilidad”, Pirámide, Madrid.

Bibliography in English

Albrecht, W.S., Stice, E.K. and Stice, J.D. (2011): "Financial Accounting Concepts", 11th Edition, South-Western, Mason, USA.

Alexander, D. and Nobes, C. (2010): “Financial Accounting: An International Introduction”, 4th Edition, Prentice Hall, Harlow, England.

Harrison, W.T., Horngren, C.T., Thomas, C.W. and Suwardy, T. (2011): "Financial Accounting", 8th Edition, Pearson.

As basic accounting information resources, students may also visit the website of the following national and international bodies: