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2013/2014  BA-HA_HU24  Principles of Financial Accounting

English Title
Principles of Financial Accounting

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration Summer
Course period Please check www.cbs.dk/summer for the course schedule.
Time Table Please see course schedule at e-Campus
Study board
Study Board for BSc in Economics and Business Administration
Course coordinator
  • Course instructor - Kin Lo, Sauder School of Business
    Patricia Plackett - Department of Operations Management (OM)
Main academic disciplines
  • Financial and management accounting
Last updated on 12-09-2013
Learning objectives
By the end of the course, the student should be able to:
  • Understand the structure and purpose of financial statements.
  • Analyze transactions and events to determine how they should be recorded in the accounting records.
  • Interpret a typical set of financial statements to infer a company’s financial position and performance.
Course prerequisites
No prerequisites
Prerequisites for registering for the exam
Compulsory assignments (assessed approved/not approved)
Mandatory Mid-term Assignment: Students must satisfactorily complete an online assignment in order to be eligible to write the final exam.
Examination
4 hour written exam:
Examination form Written sit-in exam
Individual or group exam Individual
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Summer Term
Aids allowed to bring to the exam Limited aids, see the list below and the exam plan/guidelines for further information:
  • Allowed calculators
  • Allowed dictionaries
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Description of the exam procedure
Dictionaries and calculator (without internet access and not in mobile phones) are allowed
Course content and structure
Accounting is the language of business. It provides a standardized way for members of an organization to efficiently communicate with each other and with stakeholders outside the organization. Financial accounting focuses on the latter—communicating with shareholders, potential investors, and creditors. This course will be useful in any business career, whether your role is within an organization communicating with the external community, or you are an outsider looking in evaluating the performance of an organization.

The course's development of personal competences:     
By the end of the course, students should be able to:
 
1.  Understand the structure and purpose of financial statements.
2.  Read and interpret a typical set of financial statements.
3.  Demonstrate an understanding of the connection between (i) transactions and events and (ii) financial statements by preparing accounting entries and financial statements.

Syllabus
 
Class 1: Chapter 1 - Financial statements; Chapter 2 - Processing accounting information
Class 2: Chapter 3 - Accrual accounting and income
Class 3: Chapter 4 - Internal control and cash; Chapter 5 - Short-term investments and receivables
Class 4: Chapter 6 - Inventory and cost of goods sold
Class 5: Chapter 7 - Property, plant, and equipment; natural resources; and intangible assets
Class 6: Chapter 8 - Liabilities
Class 7: Chapter 9 - Shareholders' Equity
Class 8: Chapter 10 - Long-term investments and international operations
Class 9: Chapter 11 - Income statement and statement of shareholders’ equity
Class 10: Chapter 12 - Cash flow statement
Class 11: Chapter 13 - Financial statement analysis and comprehensive review
Teaching methods
The primary teaching method is lectures and in-class exercises.

Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings to be read before the start of classes with a related task or tasks in the first two classes in order to 'jump-start' the learning process. There will be an online quiz to be completed by the end of the second class. More details about the reading materials will be announced on the CBS Learning Platform LEARN by 24 May 2013.
Expected literature
Harrison, Horngren, Thomas, and Suwardy, Financial Accounting with MyAccountingLab, 8th Global Edition, Pearson Education Canada 2012, 887 pages, ISBN 978-9-81-068551-5.
 
Note that the online supplement “MyAccountingLab” is required for this course.
Last updated on 12-09-2013