Accounting and Tax

This course focuses on acquiring theoretical and practical knowledge in the fields of financial accounting and financial reporting. Students are introduced to the significance and functions of accounting, its legal framework, accounting principles, and bookkeeping methods. Emphasis is placed on accounting for specific asset components and sources of financing—particularly long-term intangible, tangible, and financial assets, inventories, cash, receivables, payables, and equity. The curriculum also covers expenses, revenues, and the financial result, including tax implications, income tax accounting, and the determination of the tax base. Students gain knowledge regarding the accounting closing process and financial statements, off-balance-sheet accounts, and the preparation of financial statements and annual reports. The course also introduces the process of auditing financial statements and annual reports, as well as the associated requirements for the disclosure of accounting information. The primary objective is to develop the ability to correctly apply accounting regulations and resolve practical accounting issues within a business context.

Professional Knowledge
Upon completion of the course, the student will be able to explain the significance of accounting as a tool for depicting and understanding key asset and capital transactions and the financial position of business entities. The student will characterize and explain the recording of accounting transactions across all account classes and understand their interrelationships, including tax implications.

Professional Skills
The student analyzes the tax obligations of business entities and proposes a process for determining an accounting entity's financial result. The student analyzes and proposes a procedure for preparing financial statements in accordance with applicable Czech legislation.

General Competencies
The student independently and responsibly addresses case studies focused on practical accounting and tax issues faced by business entities and proposes appropriate solutions.