Submodule 1: Accounting. Module Specification Financial Management: Financial Accounting

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1 Module Specification Financial Management: Financial Accounting Page 1/6 Module Code Principles and Aims Programme Course W.IGACC01.08 Graduates of the IM+E Bachelor Programme in Business Administration are expected to be able to differentiate between accounting systems as well as to apply such systems based on selected cases. Moreover, graduates should be able to explain and apply the structure of a common chart of account to enterprises that belong to different industries. Thirdly, graduates can record basic cases and transactions in the respective ledger while taking into account the applicable (Swiss) legal and tax provisions. From a legal perspective, the focus is on practice oriented problems of the relevant laws. Besides, this module deals with the effects of direct taxes on private and business decisions and processes. Business Administration with International Management + Economics Bachelor Type of Module Level of Module ECTS Credits C (core module) in the general studies programme Basic 6 credits Submodules 1. Accounting 2. Social Security 3. Value Added Tax Pre-requisites 4.0 credits 1.0 credits 1.0 credits Qualifications in the field of financial accounting equivalent to those stipulated for higher secondary vocational training in Switzerland. Follow-up modules W.IGACC02.08 (Financial Management: Reporting and Financial Analysis) Submodule 1: Accounting Intended Learning Outcomes 1. Understanding and applying the concepts of accounting practices; 2. Developing an understanding of financial transactions, the accounting cycle and the chart of accounts; 3. Applying basic and industry-related accounting practices according to legal provisions; 4. Understanding and basic analysis of financial reports. will explore the nature of accounting in terms of basic accounting concepts, procedures and reports. The various uses of accounting information in decision-making, accounting issues concerning income and cash flows, economic resources and capital will be discussed. The course format will include lectures, discussions, exercises and problem solving sessions in introductory accounting.

2 Page 2/6 Objectives Knowledge Subject-specific knowledge know how profit is calcualted, controlled and influenced; know the concept of periodicity; know the different methods of determining the value of assets and liabilities. Methodological knowledge know the system of double entry bookkeeping; know the common chart of accounts. Skills Subject-specific skills are able to analyse standard reports such as balance sheets, cash flow statements or profit and loss accounts. Methodological skills are able to use double entry accounting correctly; are able to adjust for period end (adjustment and accrual); are able to explain and report transactions on stock; are able to asses a conpany s performance based on financial reports. Syllabus Plan and Content Overview of financial accounting as a management tool Introduction to financial accounting Standard reports Common chart of accounts Various concepts on profits and results Accounting transactions Provisions of valuation according to IFRS (and Obligationenrecht (OR)). Teaching and Learning Methods Activities Subject-based Aims and Objectives Interactive teaching, practice-related class Cases, exercises, literature studies Workload per semester ECTS Credits Contact Lessons Contact Hours (lessons) Total study time Workload Percentage 35.0% 10.0% 55.0% 100% Tuition Language Assessment Reading List English Written examination Charles T. Horngren, Gary L. Sundem, John A. Elliott, Donna Philbrick (9th edition). Introduction to Financial Accounting

3 Page 3/6 Submodule 2: Social Security Intended Learning Outcomes 1. are aware of how and to what extent governmental and legal systems may differ in countries across the world; 2. are aware of how and to what extent social security systems may differ in countries across the world; 3. appreciate the effect of bilateral agreements in theses fields and their impact on business; 3. know about the existence and role of important international organisations and their impact on international business and trade. Objectives Knowledge Subject-specific knowledge are familiar with the governmental and legal systems of Switzerland (CH), the European Union (EU) and the United States of America (USA); are familiar with the Bilateral Agreements between Switzerland and the EU, particularly the Agreement on the Free Movement of Persons and the Agreement on Social Security and their impact on business. are familiar with the systems of social security in Switzerland, the EU and Germany, and the USA. are familiar with important international trade organizations, like the WTO, the UNICITRAL, the ILO, the WIPO and the ICC. Methodological knowledge Skills Subject-specific skills are able to solve legal problems connected with everyday business in cooperation with legal experts; to apraise the impact of their business activities on social security. Methodological skills are able to research, understand and put into pratice relevant legal rules. Knowledge about communication and social relationships Social skills demonstrate legal competence when dealing with administrations (especially in the field of social security) and insurance companies. Self-related knowledge Self-related skills Syllabus Plan and Content Introduction to international business law Governmental and legal systems in Switzerland, the EU, and the USA International organizations (in partular WTO, UNCITRAL, ILO, WIPO, ICC) Bilateral agreements between Switzerland and the EU (general) are aware of their limits when faced with legal problems in the field of social security and are able to consult and commission legal experts in time.

4 Page 4/6 Bilateral agreements between Switzerland and the EU (particularly free movement of persons, social security) Systems of social security in Switzerland, the EU and Germany, and the USA Teaching and Learning Methods Activities subject and problem-based Aims and Objectives Problem and case-oriented lessons, case studies, single, partner and group work, short student presentations of cases prepared during private study periods. Not specified Workload per semester ECTS Credits Contact Lessons Contact Hours (lessons) Total study time Workload Percentage 30.0% 10.0% 60.0% 100% Tuition Language Assignments and Assessment Reading List English Written examination F. Dessemontet. T. Ansy (2004, 3 rd edition). Introduction to Swiss Law. Zürich: Kluwer/Schulthess A. Adams (2008, 5 th edition). Law for Business. Essex/UK: Pearson Submodule 3: Value Added Tax Intended Learning Outcomes 1. are able to assess the impact and consequences of taxes on individual and corporate activities generally and to work out solutions for basic tax issues; 2. are able to apply tax law regulations to basic tax issues; 3. are able to take an appropriate part in tax discussions; 4. are able to reflect on their actions and recognise the limits of their knowledge. Objectives Knowledge Subject-specific knowledge are able to explain the system of Swiss tax law and to apply its general terms (tax sovereignty, tax payer, object of tax, tax basis and tax calculation) accordingly; are familiar with the different kinds of Swiss direct and Skills Subject-specific skills are able to identify and to assess tax relevant issues in business and legal models.

5 Page 5/6 indirect taxes and apply them to basic national tax issues; know the OECD Model Convention and apply it to basic international tax issues; are familiar with the basics of EU VAT. Methodological knowledge are able to distinguish between facts and the application of law. Knowledge about communication and social relationships Methodological skills are able to identify the relevant tax law regulations, to understand them and to apply them in practical circumstances; to distinguish between the procedural and the material aspects of tax law. Social skills are able to act as competent partners for external advisers in tax law discussions; to understand the importance of appropriate contact with tax authorities and to contribute towards a relationship conducive to mutual understanding. Self-related knowledge Self-related skills are able to recognise their own limits in solving tax issues and to call in tax specialists at the appropriate time. Syllabus Plan and Content 1. Swiss tax law General Swiss tax system (tax sovereignty, tax payer, object of taxes, tax basis, tax calculation), Swiss direct taxes (taxation of individuals and corporates), Swiss withholding tax and stamp duty, taxes related to immovable property, inheritance and gift taxes and basics of Swiss VAT. Links to civil law, financial accounting. 2. International taxation OECD Model Convention (residence, qualification and taxation of different kinds of income). Links to civil law. 3. EU VAT Basics of EU VAT (intra community transfers). Links to financial accounting. Teaching and Learning Methods Activities subject-based / problem-based Aims and Objectives Interactive teaching, practice-related class Cases, exercises, literature study

6 Page 6/6 Workload per semester ECTS Credits Contact Lessons Contact Hours (lessons) Total study time Workload Percentage 30.0% 10.0% 60.0% 100% Tuition Language Assignments and Assessment Reading List English Written examination Course materials: summaries (slides), Swiss tax laws (according to necessity and availability in English), OECD Model Tax Treaty will be handet out.