APPLIES TO ACADEMIC YEAR 2012/2013
ELE 3735 Financial accounting|
Responsible for the course
John Christian Langli
Department of Accounting - Auditing and Law
According to study plan
Language of instruction
Firms may choose from different accounting languages and dialects in Norway. The main alternatives are GRS (God RegnskapsSkikk = good accounting practice in Norway) and IFRS (International Financial Reporting Standards). Within each of these alternatives there are dialects. All listed companies must apply IFRS, other companies may choose freely between the main alternatives. Some companies may also choose between the dialects. This means that firms may calculate revenue, expenses, assets, liabilities and equity using five different set of rules.
The diversity in how to calculate accounting numbers is a challenge to both preparers and users. Preparers must know which set of rules to apply and how to apply the accounting standards and valuation methods that belong to the chosen set of rules. Users must know how to interpret figures prepared under different set of rules in order to make informed decisions.
The aim of this course is to provide users and prepares with the knowledge that enables them to navigate correctly in an environment with different ways to measure revenue, expenses, assets, liabilities and equity. The course will put particular emphasis on GRS since 99 % of all Norwegian firms use GRS. However, since the largest firms (including listed firms) use IFRS the course will also cover key differences between GRS and IFRS.
Students should be able to:
Upon completion of the course, students should be able to:
Upon completion of the course, students should be able to discuss accounting issues in light of both revenue-based and balance sheet-based accounting models, and analyse the pros and cons of GRS and IFRS.
BØK 3531 Financial Accounting and Financial Statement Analysis or similar.
Langli, John Christian. 2010. Årsregnskapet. 9. utg. Gyldendal akademisk
Enkelte artikler vil bli benyttet. Nærmere informasjon gis ved kursstart.
It is assumed that students have access to a spreadsheet program and Internett
Learning process and workload
The course consists of 40 hours of lectures and assignment reviews. Further information will be given at the start of the course.
A 3 hours individual written examiniation concludes the course.
ELE 37351 Written examination, counts 100% towards the grade in ELE 3735 Financial Accounting, 7.5 ects.
Examination support materials
BI- defined calculator (TEXAS INSTRUMENTS BA II Plus™) and The Norwegian code of laws.
Exam aids at written examinations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary http://www.bi.edu/studenthandbook/exama
A re-sit examination is held in connection with the next scheduled exam in the course.
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