Fundamentals of Accounting and Taxes

1. Introduction to accounting (importance, function, legal framework, the accounting rules and principles, methodological and control elements of accounting, accounting documents, accounting books, accounting methods, chart of accounts).
2. Long-term intangible and tangible assets (characteristics, valuation, depreciation, accounting procedures including tax perspective).
3. Long-term financial assets (characteristics, valuation and accounting procedures).
4. Inventories (characteristics, valuation and accounting procedures).
5. Short-term financial assets and cash (characteristics, valuation and accounting procedures).
6. Clearing relations, capital accounts and long term liabilities (characteristics and accounting procedures of specific issues).
7. Expenses and revenues including tax aspects, determination of profit before tax and after tax, determination of tax base, its adjustment according to the Income Tax Act and accounting of income tax due.
8. Closing and off-balance sheet accounts and the procedure for the financial statements at the end of the accounting period. Financial statements and annual report. Audit.
9. Introduction to taxation, principles, examples.
10. Tax system and legislation of the Czech Republic.
11. Tax harmonization and cooperation within the European Union.
12. Direct taxes: Corporate Income Tax and Personal Income tax (taxpayers, construction of tax base, exemptions and calculation of tax liability)
13. Indirect taxes: Value Added Tax, Excise Duties and Energy Taxes (taxpayers, subject to tax, rates, tax exemptions, calculation of tax liability).
14. Principles of international taxation.