GRA 6226 Financial Reporting, general issues

GRA 6226 Financial Reporting, general issues

Course code: 
GRA 6226
Department: 
Accounting, Auditing and Business Analytics
Credits: 
6
Course coordinator: 
Erlend Kvaal
Product category: 
Master
Portfolio: 
Master of Accounting and Auditing
Semester: 
2020 Autumn
Active status: 
Active
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

The course is about preparing and understanding financial statements according to IFRS. IFRS is an internationally accepted set of accounting standards used by listed firms in the EU/EEA and elsewhere in the world. Expertise in IFRS is needed for professional auditors, accounting preparers and accounting users. The course is compulsory for students in the Master of Accounting and Auditing.

Learning outcomes - Knowledge

The students shall obtain advanced knowledge about essential topics in IFRS regulation such as accounting for revenues, intangible assets, provisions, impairment losses, financial instruments, and taxes. The student shall also obtain advanced knowledge about business combinations and consolidated financial statements.

Learning outcomes - Skills

Students shall learn how to prepare consolidated and separate financial statements according to IFRS. Students shall also be able to discuss IFRS regulation with reference to the IASB’s conceptual framework.

General Competence

The students should be able to critically assess current IFRS regulation and practice.

Course content
  • Basic accounting concepts and techniques
  • IFRS conceptual framework.
  • Financial reporting standards, eg.
    • Business combinations and consolidation
    • Reveniue recognition
    • Leasing
    • Fixed assets and provisions
    • Taxes
    • Cash flow statements
Teaching and learning activities

-

Software tools
No specified computer-based tools are required.
Additional information

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class.

Qualifications

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 62262
Grading scale:
ECTS
Grading rules:
-
Resit:
Examination every semester
20No24 Hour(s)Group/Individual (1 - 2)Written examination under supervision.
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 62263
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination every semester
80Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • IFRS Standards (Red Book) Part A
Individual Written examination under supervision.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:20
Invigilation:No
Grouping (size):Group/Individual (1-2)
Support materials:
Duration:24 Hour(s)
Comment:Written examination under supervision.
Exam code:GRA 62262
Grading scale:ECTS
Resit:Examination every semester
Exam category:Submission
Form of assessment:Written submission
Weight:80
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • IFRS Standards (Red Book) Part A
Duration:3 Hour(s)
Comment:Written examination under supervision.
Exam code:GRA 62263
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching on Campus
30 Hour(s)
Feedback activities and counselling
15 Hour(s)
Group work / Assignments
56 Hour(s)
Student's own work with learning resources
56 Hour(s)
Examination
3 Hour(s)
Sum workload: 
160

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.