MKF_UFII Accounting of financial institutions

Faculty of Economics and Administration
Autumn 2024
Extent and Intensity
0/0/0. 6 credit(s). Type of Completion: zk (examination).
In-person direct teaching
Teacher(s)
Ing. Martina Sponerová, Ph.D. (lecturer)
Ing. Petr Valouch, Ph.D. (lecturer)
Guaranteed by
Ing. Petr Valouch, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Fri 4. 10. 16:00–19:50 S313, Sat 12. 10. 12:00–15:50 S313, Sat 16. 11. 16:00–19:50 S313
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The aim of the course is to provide insight and acquire skills in accounting of commercial insurance companies, banks and other financial institutions including IFRS rules. Content of the course builds on knowledge gained in basic course of financial accounting and specifies the fundamental differences and specificities of the accounting of commercial insurance companies and banks.
Learning outcomes
At the end of this course the student will be able: to orientate oneself in legal regulation of accounting of financial institutions including IFRS, to use special chart of accounts of insurance companies and bank, to account characteristics operation of financial institutions, to compile and read financial statements of insurance companies and banks, to orientate in annual reports.
Syllabus
  • 1. Specifications of accounts of insurance companies and banks, legal regulation, IFRS, chart of accounts and accounting procedures for banks and insurance companies, the principles of valuation in the accounts of insurance companies and banks
  • 2. The accounting of insurance companies - accounting of financial placement (land, buildings, deposits, securities and derivatives) and other property which is not a financial placement
  • 3. Accounting of claims and liabilities (insurance contracts, reinsurance), Accounting of other claims and liabilities, temporary accounts, accounting for equity capital and foreign sources (with the exception of technical reserves)
  • 4. Accounting of technical reserves, the influence of reinsurance at technical reserves
  • 5. Accounting of costs and revenues, technical and non-technical account
  • 6. The financial statements of insurance companies and their utilization for management
  • 7. Bank accounting – cash transactions and accounting of bank-to-bank operations
  • 8. Accounting of deposit and credit operations of customers
  • 9. Accounting of other claims and liabilities (encashment, operation between headquarters and branch), accounting of tangible and intangible assets
  • 10. Securities operations (accounting of own emission, claims and liabilities from transactions in securities, accounting of derivatives)
  • 11. Accounting of long-term foreign sources of bank, of equity capital and of bank costs and revenues
  • 12. Accounting of off-balance sheet, financial statements, the annual report and the obligation of publishing the data
Literature
    required literature
  • Náhradní obsah: Report on the implementation of IFRS 17 - Insurance contracts.pdf, English, 2024. Dostupné z:https://www.eiopa.europa.eu/publications/report-implementation-ifrs-17-insurance-contracts_en
  • JÍLEK, Josef and Jitka SVOBODOVÁ. Účetnictví bank a finančních institucí 2009. 7. vyd. Praha: Grada, 2009, 584 s. ISBN 9788024730486. info
  • VALOUCH, Petr. Účetnictví komerčních pojišťoven. 2. přepracované vydání. Brno: ESF MU, 2008, 110 pp. ISBN 978-80-210-4582-8. info
    recommended literature
  • CIPRA, M.: Účetnictví bank a některých jiných finančních institucí 2017. FINAL, s.r.o, Praha, 2018. ISBN 978-80-902657-6-9
  • LINA PALMBORG, MATHIAS LINDHOLM & F. Financial position and performance in IFRS 17. SCANDINAVIAN ACTUARIAL JOURNAL. ENGLAND: TAYLOR & FRANCIS LTD, 2021, vol. 2021, No 3, p. 171-197. ISSN 0346-1238. Available from: https://dx.doi.org/10.1080/03461238.2020.1823464. info
  • JÍLEK, Josef and Jitka SVOBODOVÁ. Účetnictví podle mezinárodních standardů účetního výkaznictví 2013. 3. vyd. Praha: Grada Publishing, 2013, 448 s. ISBN 9788024747101. URL info
  • HULEŠ, Jan and Jana HORNIGOVÁ. Účetnictví pojišťoven. 2. aktualiz. a přeprac. vyd. Praha: Linde, 2009, 287 s. ISBN 9788072017539. info
Teaching methods
3 Tutorials. If online teaching is necessary, tutorials will be held using online study tools and via MS Teams.
Assessment methods
Conditions for incoming to exam: 2 written practical examples granted as accepted. Written exam (4 theoretical questions and elaboration of two complex accouting problems, max. 50 points, min. 30 points). If online exam is necessary, IS online tools are used. "Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination."
Language of instruction
Czech
Study support
https://is.muni.cz/auth/el/econ/podzim2024/MKF_UFII/index.qwarp
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
Information on the extent and intensity of the course: tutorial 12 hodin.
Credit evaluation note: k = 1,0.
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023.
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