2012/2013
BA-HAI_1FA Financial Accounting
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English Title
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Financial Accounting
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Language
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English
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Exam ECTS
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7.5
ECTS
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Type
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Mandatory
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Level
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Bachelor
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Duration
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One Quarter
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Course period
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Fourth Quarter, Summer
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Time Table
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Please see course schedule at e-Campus
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Study board
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Study Board for BSc in International Business
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Course coordinator
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Edward Vali
- Department of Accounting and Auditing
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Main Category of the Course
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Last updated on 28-08-2012
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Learning objectives
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After having completed the course students should be able to:
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Read, understand and examine the data in an annual report.
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Fully understand the difference between cash and accrual accounting.
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Prepare financial statements from the source data based on accounting transactions.
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Understand the critical role of ethics in providing decision useful accounting information.
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Develop financial ratios for a company and analyze the information content of these measures to make sound business decisions.
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Examination
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Financial Accounting:
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Type of test
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Written Exam
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Marking scale
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7-step scale
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Second examiner
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External examiner
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Exam period
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May/June and Summer Term, the regular exam takes place in June. The make-up and re-examination takes place in August.
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Aids
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Please, see the detailed regulations below
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Duration
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4 Hours
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This is an open book exam meaning that all material is allowed (textbook, personal notes, lecture slides, exercise solutions, articles, calculator, etc.). An exception is any electronic device that makes it possible to communicate with others, e.g. USB key.
PC exam with access to personal S-drive on CBS network.
Students do NOT have access to Internet.
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Examination
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The Make-up and Re-examination takes place according to the same rules as the regular exam.
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Course content
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Accounting as a form of communication
Financial statements and Annual Reports
Double-entry bookkeeping
Cash basis and accrual basis of accounting
Inventories and Cost of Goods Sold
Cash, receivables and short term investments
Fixed Assets (Tangible & Intangible)
Current Liabilities, Present Value, and Long-term liabilities
Shareholders’ Equity
Statement of Cash Flows
Financial Statement Analysis
A Case Study in Financial Accounting
Practical application of theory:
Students learn to develop their understanding of financial accounting via reference to the annual reports of various companies. References are made to the different sections of an annual report and compared to a few others in various industries throughout the sessions. Towards the end of the course a case study is introduced in order to help students apply the acquired knowledge of financial statement analysis to a hypothetical company.
Relation to a Business or an Institutional Setting: Class discussions are focused around multinational companies in different industries – both European and US. The course textbook has many good examples from US business life, which will be contrasted against their European peers.
Relation to International Business or Economics: The core theme of the course is the financial accounting within multinational corporations. The relationships between parent company and subsidiaries are emphasized in group accounting and through the consolidation process.
Research Based Teaching: The curriculum as well as class discussions are based on practical applications backed by academic research relevant to financial accounting. These references are mainly based on critical review of methods used for analysis of a firm’s financial health.
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Teaching methods
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The 14 sessions comprise lectures and class discussions. Problems and exercises are set for homework and to be included as a part of class discussions. Various mini case problems are considered, whereby students are expected to analyze and interpret the accounts of a company under certain conditions. In addition to the sessions there are planned 2 sets of workshops to review the most important points of the lectures through supplementary exercises, and thus prepare students even better for the final examination.
Attendance and participation:
Although being present in class is optional, complete attendance at sessions is highly recommended for this course. Sessions will contain lectures, exercises and discussions which for some are above and beyond the textbook. Hence, the final exam will be based on the content of sessions, the text book and the course material.
Preparation for sessions is very essential for acquiring necessary knowledge of the subjects in financial accounting. And active participation in class discussions generally enforces this matter where it pays off through greater learning and higher scores in the final exam.
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Expected literature
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Introduction to Financial Accounting, International Edition 8the, by Curtis L. Norton and Gary A. Porter, Cengage, ISBN-13: 9780538743716 and ISBN-10: 0538743719
Notice: All course powerpoints are also considered to be relevant for the exam and thus a part of the course syllabus.
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Last updated on 28-08-2012
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