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2023/2024  BA-BHAAI1083U  Financial Accounting

English Title
Financial Accounting

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration Summer
Start time of the course Summer
Timetable Course schedule will be posted at calendar.cbs.dk
Min. participants 30
Max. participants 100
Study board
Study Board for BSc in Economics and Business Administration
Course coordinator
  • Kirstin Becker - Department of Accounting (AA)
For academic questions related to the course, please contact course responsible Kristin Becker (kbe.acc@cbs.dk).
Main academic disciplines
  • Accounting
Teaching methods
  • Blended learning
Last updated on 22-11-2023

Relevant links

Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • 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
Course prerequisites
Financial Accounting:
Exam ECTS 7,5
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 Summer, Course and exam timetable is/will be available on https:/​/​www.cbs.dk/​uddannelse/​international-summer-university-programme-isup/​courses-and-exams
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
  • Access to the personal drive (S-drive) on CBS´ network
  • 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.
Retake exam: 4 hour written-sit in exam, new exam question.
Description of the exam procedure

The final exam will consist of a mix of different type of questions, which may include 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:

  1. Purpose/function of accounting, different financial statements, basic assumptions in accounting

  2. Double-entry bookkeeping technique

  3. Accrual accounting

  4. Ethics and internal control, cash and accounts receivables

  5. Inventory

  6. PPE and intangible assets

  7. Current and long-term liabilities

  8. Equity and equity investments

  9. Cash flow statement

  10. Financial statement analysis


Throughout the different sessions, students acquire general business knowledge by analyzing IFRS and US GAAP based 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.

Description of the teaching methods
Each teaching session consists of (1) pre-recorded lecture videos, (2) on-campus sessions where students have the chance to work in groups to solve exercises and discuss solutions. On-campus participation is essential to strengthen students' ability to collaborate and to provide each other with constructive feedback in discussions. To stimulate an interactive learning environment, on campus sessions are not going to be recorded.

Self-study material will be uploaded by mid of June, about two weeks before the start of the course. Students are supposed to invest about 10 hours in self-studying this material before the classes start.
Feedback during the teaching period
Multiple Canvas quizzes as well as in class quizzes are used to provide students with feedback throughout the course. Besides the feedback dialogue during the on campus sessions, students have to work on a short, ungraded assignment after module 3 (accrual accounting).
Student workload
Video material 9 hours
Feedback activities 18 hours
Class participation 38 hours
Preparation for classes / exam 137 hours
Examination 4 hours
Further Information

3-week course that cannot be combined with other courses.

Preliminary Assignment:

The Nordic Nine pre-course is foundational for the summer university and identical for all courses. Students will receive an invitation with all details by the end of May. The assignment has two parts. 1.) online lectures and tutorials that students can access at their own time and 2.) one synchronous workshop which will be offered both online and in-person at several dates and times before the official start of the summer university courses. Sign-up is first come first serve. All students are expected to complete this assignment before classes begin.



Expected literature

Tentative textbook:

Financial Accounting: International Financial Reporting Standards

Harrison, Walter T. Jr., Horngreen, Charles T., Thomas, C. William, Tietz, Wendy M., Suwardy T.


12th edition



Self-study material will be uploaded by mid of June, about two weeks before the start of the course. Students are supposed to invest about 10 hours in self-studying this material before the classes start.


Last updated on 22-11-2023