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2023/2024  BA-BSEMO1007U  Financial Accounting

English Title
Financial Accounting

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory (also offered as elective)
Level Bachelor
Duration One Quarter
Start time of the course First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for BSc in Service Management
Course coordinator
  • Kirstin Becker - Department of Accounting (AA)
Main academic disciplines
  • Accounting
Teaching methods
  • Blended learning
Last updated on 27-01-2023

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
Course prerequisites
English language skills equal to B2 level (CEFR) and math skills equal to Danish level B are recommended.
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 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
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.
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. 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


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 multiple-choice 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.
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 18 hours
Workshops 12 hours
Preparation for classes / the exam 146 hours
Examination 4 hours
Expected literature

Financial Accounting – International Financial Reporting Standards
by Harrison, Horngren, Thomas, Tietz and Suwardy
11th or 12th Edition
ISBN: 1-292-21114-8
Notice: All course powerpoints are also considered to be relevant for the exam and thus a part of the course syllabus.

Please note, minor changes may occur. The instructor will upload the final reading list to CBS Canvas two weeks before the course starts.

Last updated on 27-01-2023