Financial Reporting - Study guide

After having completed this course or attained an equivalent competence level, the student:
- is able to prepare statutory financial statements for a small company according to accounting standards
- is able to identify key international accounting standards
- is able to apply accrual principle in the valuation of assets and liabilities of a company
- is able to identify the minimum requirements of sustainability reporting in the financial statements
- is able to prepare cash flow statement
- perform a simple tax allocation for a limited liability company

Course ECO002AS2AE Financial accounting or similar competence level gained

- Ability to prepare financial statements, including notes, cash flow statements, and balance sheet specifications
- accounting principles and standards
- Equity entries in different company forms
- essential period end adjustment and valuation principles
- contents of the financial statement including notes
- cash flow statement
- non-financial information

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 assist in preparing the financial statements and prepare some basic period end adjustments
- is able to make a simple tax allocation for a limited liability company

- is able to prepare independently financial statements for a small company including notes by applying the Finnish GAAP
- is able to prepare calculations for the planning of financial closing
- is able to make a simple tax allocation for a limited liability company

Student
- is able to prepare independently financial statements for a small company including notes by applying the Finnish GAP
- is able to recognize the main differences between the Finnish GAAP and IFRS
- is able to verify and justify that financial statements give a true and fair view of the company
- is able to prepare cash flow statement
- understands the EU sustainability reporting requirements in connection to financial statements
- is able to derive taxable income from the net income in a limited liability company

This is a CONTACT implementation.
The lessons contain lectures, examples and exercises mainly in excel. Procountor accounting program will be used as well.
Flipped classroom is used for certain sections of the course.

Harrison, W. T., Thomas, C. W., Tietz, W. M. & Suwardy, T. (2024). Financial accounting: International financial reporting standards (12th edition, global edition.). Pearson. Chapters 3, 4, 6, 7, 9.

Accounting Act and Decree (Finland)
Applicable tax laws (Finland)

Other materials informed by the course teacher.

Practical examples as much as possible. The material and exercises are according to Finnish GAAP, but the main differences compared to IFRS will be pointed out.

Pasila Campus

Exam will be during the last week of the course in the electronic exam room.
The 1st retake opportunity will be in the electronic exam room within 2-3 weeks after the course.
2nd retake by request.

Exam is 70-80% of the course grade.
Assignments (Excel and/or Procountor) are 20-30% of the course grade.

English

20.10.2025 - 12.12.2025

Course contains class exercises in excel with solutions in Moodle. There will 4-6 assignments in excel and/or Procountor making 20-30% of the course grade.

14.05.2025 - 22.05.2025

Lessons in class twice a week according to the curriculum.

IBE4PAACC
CONTACT
IBE5PAACC
EXCH

RPL and Work study available.
For RPL, contact the teacher.

Leena Mekkonen-Leppänen

15 - 50

Exam (electronic exam room) 70-80%
Excel and/or Procountor assignments 20-30%

INTBBA International Business

0.00 cr

H-5