The aim of the course is to develop the basics of annual financial statements under commercial law and the determination of taxable profit. The course builds on “Financial Accounting”, knowledge of which is taught in the module “Fundamentals of Business Administration 1: Accounting and Finance” and is a prerequisite for this course. Together with the course “Cost and Revenue Accounting” (Chair of Management Accounting and Controlling), the course provides the basic knowledge required to understand accounting information and to be able to use it to make targeted decisions.

After attending this course, students will know...

• the business and legal principles of annual financial statements under commercial law,
• the basic methods of analyzing annual financial statements,
• as well as the different types of income under income tax law and the different tax methods of determining profits and their areas of application.
• read information from annual financial statements,
• decide on the recognition of assets and capital items in the balance sheet, classify them in a balance sheet and evaluate them accordingly,
• prepare a profit and loss account and simple individual financial statements in accordance with the German Commercial Code (HGB) and determine the taxable income of sole traders and corporations.

The following topics are covered:

• Nature and principles of the annual financial statements
• Basic elements of accounting
• Accounting for fixed assets
• Accounting for current assets
• Accounting for equity and the income statement
• Accounting for liabilities, prepaid expenses and deferred taxes
• Notes, management report, interim report and cash flow statement
• Theories and analysis of the financial report
• Fundamentals of IFRS
• Fundamentals of tax law
• Determination of taxable income
• Determination of corporation tax and trade tax
   

In the exercise course, the content taught in the lecture is deepened and discussed using exercises.

Key facts

Important:

• This course is held in German.
• The start dates can be viewed in KIS.
• This is a face-to-face event.
• The examination is a written final exam at the end of the lecture period.
• The access code for the Olat course will be announced at the kick-off event.