| Learning objectives |
After having completed the course students should
be able to:
- Explain the purpose of financial accounting and reporting and
critically assess whether current accounting regulations and
practices meet such purposes
- Explain the difference between cash and accrual accounting
- Apply the double-entry-bookkeeping method to prepare financial
statements based on accounting transactions
- Find, analyze and interpret specific information in financial
statements of firms using either IFRS or U.S. GAAP
- Define ethical dilemmas in accounting and their consequences
and identify situations in which unethical behavior is (more/less)
likely to occur
- Identify areas in financial accounting and reporting that are
affected by digital technologies and describe the effects of
digitalization on accounting
|
| Examination |
The exam in the subject consists of two parts:
| Midterm -
Financial Accounting and Reporting and its Digital
Context: | | Sub exam weight | 15% | | Examination form | Written sit-in exam on CBS'
computers | | Individual or group exam | Individual exam | | Assignment type | Written assignment | | Duration | 2 hours | | Grading scale | 7-point grading scale | | Examiner(s) | One internal examiner | | Exam period | Autumn | | Aids | Limited aids, see the list below:
The student is allowed to bring - USB key for uploading of notes, books and compendiums in a
non-executable format (no applications, application fragments, IT
tools etc.)
- Any calculator
- In Paper format: Books (including translation dictionaries),
compendiums and notes
The student will have access to - Advanced IT application package
| | 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. The re-take follows the same rules
as the regular examination. | Description of the exam
procedure
The exam consists of a mix of open questions and true/false
questions. For the latter question type (T/F questions), students
have to briefly justify their choice of answer. The learning objectives relevant for this partial exam are - Explain the purpose of financial accounting and reporting and
critically assess whether current accounting regulations and
practices meet such purposes
- Explain the difference between cash and accrual accounting
- Apply the double-entry-bookkeeping method to prepare financial
statements based on accounting transactions
- Find, analyze and interpret specific information in financial
statements of firms using either IFRS or U.S.
GAAP
|
| Final exam -
Financial Accounting and Reporting and its Digital
Context: | | Sub exam weight | 85% | | Examination form | Written sit-in exam on CBS'
computers | | Individual or group exam | Individual exam | | Assignment type | Written assignment | | Duration | 4 hours | | Grading scale | 7-point grading scale | | Examiner(s) | One internal examiner | | Exam period | Winter | | Aids | Limited aids, see the list below:
The student is allowed to bring - USB key for uploading of notes, books and compendiums in a
non-executable format (no applications, application fragments, IT
tools etc.)
- Any calculator
- In Paper format: Books (including translation dictionaries),
compendiums and notes
The student will have access to - Advanced IT application package
| | 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. The re-take follows the same rules
as the regular examination. | Description of the exam
procedure
The final exam will consist of a mix of case questions, open
questions and true/false questions. For the latter question type
(T/F questions), students have to briefly justify their choice of
answer. All listed learning objectives are relevant for the final
exam. |
|
| Course content, structure and pedagogical
approach |
|
The course includes the following sessions which aim at laying
the foundation for a solid understanding of financial accounting
and reporting practices:
-
Purpose/function of accounting, presentation of financial
statements
-
Double-entry bookkeeping technique
-
Accrual accounting
-
Ethics and internal control, cash and receivables
-
Inventory and merchandizing operations
-
PPE and intangibles
-
Current and long-term liabilities
-
Equity and investments
-
Cash flow statement
-
Financial statement analysis
Throughout the different sessions, students acquire general
business knowledge by analyzing financial statements of
internationally operating companies with different backgrounds
(service and product companies from different countries) with the
aim of assessing the firm’s financial position and performance in
light of the broader economic context.
The tasks of analysing financial data and assessing whether
certain accounting regulations and practices meet the (intended)
purpose of financial accounting
aim at stimulating students’ curiosity about ambiguities in
accounting and at helping students to develop a high degree of
analytical and critical thinking.
Constructive collaboration is encouraged by group
tasks.
|
| Description of the teaching methods |
Each teaching session consists of (1)
pre-recorded lecture videos, (2) homework exercises with solutions
available on Canvas and (3) an exercise session, in which students
will be asked to work on small problems in groups (e.g. a set of
true/false or MCQ questions, short calculation tasks, etc.).
Where feasible, the teaching sessions will include an online quiz
that requires students to engage with real world examples (such as
identifying relevant information in a firm's financial report).
Immediate feedback will be given after submission of the
student's answers.
Next to the exercise sessions, students are able to deepen their
ability to meet the learning objectives by attending workshop
sessions that ask them to work through more extensive financial
reporting and accounting problems.
To stimulate an interactive learning environment, on campus
sessions are not going to be recorded. |
| Feedback during the teaching period |
Students will have the possibility to obtain
feedback on their performance by solving online quizzes, attending
the exercise sessions and workshops. Discussions of quiz solutions
and the class' overall results inform the students about their
progress in obtaining the skills as set out in the learning
objectives over time. A short feedback session on students'
performance during the midterm exam serves a similar purpose.
Exercise sessions confront students with relevant assignments on
which students can test their abilities and obtain direct feedback
from the instructor.
Apart from these occasions to obtain feedback that are embedded in
the structure of the course, students are encouraged to actively
seek feedback from the teacher via the voluntary attendance of
group meetings and/or individual office hours. |
| Student workload |
| Video material |
9 hours |
| Homework exercises and quizzes |
18 hours |
| Exercises |
20 hours |
| Workshops |
12 hours |
| Preparation for classes / the exam |
147 hours |
|
| Expected literature |
|
Financial Accounting – International Financial Reporting
Standards
by Harrison, Horngren, Thomas, Tietz and Suwardy
Pearson
11th or 12th Edition
ISBN: 1-292-21114-8
|
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