Financial Accounting - Study guide

You understand the logic of double entry book keeping. You record business transactions for a firm. You are able to prepare accounts and financial statements for a company and run different types of accounting reports. You prepare statutory financial statements for a firm based on Finnish generally accepted accounting principles. You know how to record, calculate and prepare filings related to value added tax in domestic trade. You coordinate efficient control and audit processes for a firm and liaise with auditors.

ACC1LF101 or equivalent introductory course to business management.

• accounting principles and double-entry bookkeeping
• value added tax
• accounting cycle of a firm
• closing of the financial year
• financial statements
• audit processes

- Knowledge: You know the key concepts within the course’s scope, but are yet to develop the general view and the big picture of the subject matter.
- Skills: - You can complete given tasks and assignments with assistance. You need to develop how to apply knowledge.
- Competence: You demonstrate some ability to perform skills and have basic knowledge, but you have difficulty to manage without assistance

- Knowledge: You know the key concepts well and can explain how the theories and models function and the tools are used. You have a general view of the subject matter.
- Skills: You complete given tasks and assignments independently. You apply knowledge in hands-on business related situations. You can critique your own practice and identify ways to improve.
- Competence: You demonstrate sufficient ability to perform skills and have basic to good knowledge. You can perform independently, but you have some challenges in passing on your skills and knowledge to others. You have an interest in professional development.

- Knowledge: You have a strong command of the key and related concepts. You can critically evaluate theories, models and tools. You can demonstrate explicit knowledge of the subject matter, and how it relates to other disciplines.
- Skills: You apply knowledge in demanding business related situations. You can prioritize and critically select tools and methods for solving complex problems in the subject matter.
- Competence: You execute skills with natural proficiency and you have detailed and explicit knowledge. You can perform independently and you are also able and actively willing to help others develop and pass on your skills. You have an attitude of continuous professional development.

Practical assignment and exercise approach
Pearson Education's MyLab Accounting to be used -> this to be confirmed
Accounting simulation with accounting software

Harrison, Horngren, Thomas, Tietz, Suwardy. 2018. Financial Accounting Global Edition. 11th ed. Pearson Education. Harlow.
Taxation material given on Moodle
Additional material also available on Moodle

Transaction material is fully business related Visitors or excursion organised applicable to course contents

Pasila Campus

Exam and re-exam dates will be informed on Moodle

English

International Financial Reporting Standards forms the course framework
Multicultural learning environment
English language

22.08.2022 - 16.12.2022

Weekly homework and other preparation for the next class Accounting simulation assignment

13.06.2022 - 19.08.2022

Weekly contact classes
2-period course
For further details see Moodle

LF3PA
EXCH
LF3PB
CONTACT

Anne Arkima

15 - 40

Exam 50%
Homework 20%
Accounting simulation 30%

GLOBBA Degree Programme in International Business

H-5