Financial AccountingLaajuus (5 cr)

Learning objectives

After having completed this course or attained an equivalent competence level, the student:
- is able to apply generally accepted accounting principles
- is able to recognize and interpret the effects of business transactions into income statement and balance sheet
- is able to prepare accounting for a small firm by using accounting software
- is able to analyze profitability and financial position of a company based on the accounting reports
- is able to comply with value added tax rules and procedures
- recognizes the career options and future roles of an accountant in a global environment
- operates ethically, responsibly and sustainably in ones role

Contents

- daily accounting process
- month end reporting
- principles of value added tax processes; VAT liable sales and deductible purchases
- basics of cross-border VAT
- most common period end adjustments
- accounting software
- roles and principles in accounting profession and career insights

Lähtötaso ja sidonnaisuudet muihin opintojaksoihin

Following BBA key and common competence courses should be completed or similar knowledge and skills gained prior to this course:

ECO001HH1AE
ECO002TR1AE

Implementation methods, demonstration and Work&Study

Contact, blended, virtual

If you have acquired the required learning outcomes, you can show your competences with a demonstration. If you have any questions, please contact the responsible teacher. More information and instructions regarding the recognition of learning: https://www.haaga-helia.fi/en/recognition-learning

Assessment criteria - grade 1

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.

Student
- is able to recognize some business transactions
- is able to record some business transactions by using accounting software
- recognizes basic value added tax rules and processes of a company

Assessment criteria - grade 3

Student
- is able to prepare accounting based on the business transactions for a company
- is able to record the basic period end adjustments
- is able to use accounting software for preparing the accounts for a company
- is able to apply value added tax (VAT) rules in the daily accounting and know the main filing process of VAT
- is able to apply basic cross-border VAT rules
- is able to understand the information flows from daily accounting to accounting reports

Assessment criteria - grade 5

In addition to prior level assessment criteria, student
- is able to manage period end adjustment process
- is able to verify the correctness of accounting information by thorough analysis of the monthly reporting
- is able to justify the importance of accounting information and understand its role for business development

Learning materials

Harrison, W. T., Thomas, C. W., Tietz, W. M. & Suwardy, T. (2018). Financial accounting: International financial reporting standards (11th edition, global edition.). Pearson. Chapters 1-8. (tbc)
Other materials informed by the course teacher.