Introduction to Accounting
level of course unit
first cycle, Bachelor
Learning outcomes of course unit
• are familiar with the fundamentals of business-related decisions in the accounting system.
• are familiar with and understand fundamental terms and sub-areas of accounting.
• understand the technology and internal structure of double-entry accounting.
• are able to carry out simple entries in stock accounts as well as profit and loss accounts and produce accounting records.
• are able to produce and interpret a simple annual financial statements (balance sheet as well as profit and loss).
• recognize the consequences that entries have on profit and / or liquidity.
• are familiar with the forms and criteria of accounting organizations under Austrian and German business law.
• are familiar with the fundamentals of the Value Added Tax Act and know when and to which external institutions the business must pay charges, fees, tax and contributions.
• understand the connections between external and internal accounting and are able to apply the fundamentals of business transfer.
prerequisites and co-requisites
Part A: Fundamentals of business accounting
Tasks and sub-areas of accounting, fundamental terms, system of commercial bookkeeping: from inventory to opening balance sheets, system of bookkeeping in accounts, entry of business transactions into inventory accounts as well as the profit and loss accounts, simple annual financial statement
Part B: Consolidation of external accounting
Legal fundamentals under the Austrian Commercial Code, IFRS, and (complementary) German Commercial Code, principles of bookkeeping in accordance with the regulations, function and content of the annual financial statement, organization of accounting (account systems, etc.), fundamentals of VAT, entry of business transactions in the operational area, entry of business transactions in the area of investments and finance.
Part C: Connection of external and internal accounting, objectives and fundamental terms of cost and revenue accounting, structure of cost accounting (cost categories, cost centers, cost objects), operational transfer.
recommended or required reading
Hangl/Arminger 2012: Grundlagen der finanziellen Unternehmensführung,
Band I: Externe Rechnungslegung, 2. Aufl., Wien: Linde.
Geirhofer/Hebrank 2010: Grundlagen Buchhaltung und Bilanzmanagement: Durchgängiges Fallbeispiel mit Darstellung bilanzpolitischer Entscheidungsauswirkungen auf den Unternehmenserfolg, 3. Aufl., Wien: Linde.
assessment methods and criteria
language of instruction
number of ECTS credits allocated
planned learning activities and teaching methods
Lecture, group work, presentation and task discussion
semester/trimester when the course unit is delivered
name of lecturer(s)
Dr. Mag. Thomas Hirschmann
year of study
1.year of studies
recommended optional program components
course unit code
type of course unit
mode of delivery