This course is appropriate for first year students where the lecturer's main role is to act as a guide and a tutor of the learning process. With this system, the student is encouraged to have a more dynamic and participative attitude in class. The student will learn to organize and schedule his/her own timetable. Team work is also an important part of this course. The overall content of the course comprises:
1. Material to follow the lectures: basic reference book and slides
2. Set of exercises related to each chapter, which is to be solved at the practical classes. This material will be provided to the student at the beginning of the course.
3. Tasks, which are part of the continuous assessment process. These have to be solved in class by the students.
4. An end-of-chapter short quiz which will allow students to test their understanding of the material covered in the chapter.
A course timetable is also provided to the student which includes a detailed description of the dates for submission of tasks and the contents to be covered in each theory lecture and each practical class.
The course consists of a one-hour and a half theory lecture, and a one-hour and a half practical class per week.
The purpose of the lectures is twofold:
Primarily to enable the students to understand and apply fundamental accounting concepts, accounting methods, and accounting conventions. I.e. the focus is on possible ways of recognizing and measuring events presented in the balance sheet and the income statement.
Secondly to enable the students to understand the required methods of recognizing and measuring events presented in the balance sheet and income statement according to the Accounting Standards.
The purpose of the practical classes is:
To train the students to solve financial accounting problems that, in certain cases contain more than one of the subjects taught in the theory lectures. In the practical classes the students apply the financial accounting techniques from the lectures to specific problems. Specific exercises that show how the accounting process works and how the financial statements are produced will be addressed. This will enable students to test their understanding of the material covered at the lectures.