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2023/2024  BA-BDMAO2001U  Financial Accounting and Reporting and its Digital Context

English Title
Financial Accounting and Reporting and its Digital Context

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory (also offered as elective)
Level Bachelor
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
BSc in Digital Management
Course coordinator
  • Kirstin Becker - Department of Accounting (AA)
Main academic disciplines
  • Accounting
Teaching methods
  • Blended learning
Last updated on 29-06-2023

Relevant links
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 weight15%
Examination formWritten sit-in exam on CBS' computers
Individual or group examIndividual exam
Assignment typeWritten assignment
Duration2 hours
Grading scale7-point grading scale
Examiner(s)One internal examiner
Exam periodAutumn
AidsLimited 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
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
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.

 

The learning objectives relevant for this partial exam are

  1. Explain the purpose of financial accounting and reporting and critically assess whether current accounting regulations and practices meet such purposes
  2. Explain the difference between cash and accrual accounting
  3. Apply the double-entry-bookkeeping method to prepare financial statements based on accounting transactions
  4. 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 weight85%
Examination formWritten sit-in exam on CBS' computers
Individual or group examIndividual exam
Assignment typeWritten assignment
Duration4 hours
Grading scale7-point grading scale
Examiner(s)One internal examiner
Exam periodWinter
AidsLimited 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
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
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 open questions.

 

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:

  1. Purpose/function of accounting, presentation of financial statements

  2. Double-entry bookkeeping technique

  3. Accrual accounting

  4. Ethics and internal control, cash and receivables

  5. Inventory and merchandizing operations

  6. PPE and intangibles

  7. Current and long-term liabilities

  8. Equity and investments

  9. Cash flow statement

  10. Financial statement analysis and XBRL reporting

 

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
12th Edition  
ISBN: 1-292-21114-8

 
Last updated on 29-06-2023