BØK 3647 Financial Accounting

BØK 3647 Financial Accounting

Course code: 
BØK 3647
Department: 
Accounting, Auditing and Business Analytics
Credits: 
15
Course coordinator: 
Roy Kristen Kristensen
Product category: 
Bachelor
Portfolio: 
Bachelor of Bus.Adm. with Accounting - Programme Courses
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

This course is part of the statutory curriculum for approval as a Norwegian Certified Accountant. The programme meets the requirements of the Certified Accountant Regulation of 8 February 1999 no. 196 (education requirements for certified accountants).

Learning outcomes - Knowledge

The course will give the students in-depth knowledge about the theoretical basis, laws and other central regulations regarding production of annual accounts and drawing up the annual report for private enterprises in accordance with Norwegian generally accepted accounting principles (NGAAP). Furthermore, basic knowledge about differences between NGAAP and IFRS is included.

Learning outcomes - Skills

The students shall be able to produce annual accounts including consolidated accounts, and annual reports according to Norwegian accountancy legislation. The students shall also be able - with reference to actual legislation - to address and discuss definite accountancy problems related to annual accounts and annual reports.

General Competence

The students should be conscious about the importance of accurate financial accounts.

Course content

Accounting theory

  • Focus on the user groups of comapny accounts and their need for accounting information and accounting regulation
  • Norwegian and international accounting rules, development of international regulation and regulatory bodies
  • Profit and loss versus balance orientation
  • IFRS conseptual framework
  • The theoretical basis for the Norwegian basic accounting principles and best accounting practice

In-depth knowledge in accounting

  • In depth knowledge of valuation, measuring and accruals of the most basic items in the accounts as well as basic accounting principles
  • Knowledge about the special regulations for small and micro companies
  • Knowledge about the special regulations for ideal organizations
  • Knowledge about the most basic differences between accounting and taxation
  • Ability to produce annual accounts, including tax and year end disposals, for a limited company
  • Knowledge about the regulation regarding notes to company accounts and Directors' report
  • Ability to produce basic consolidated accounts
Teaching and learning activities

The course is taught in the autumn term. Teaching is based on 90 lecturing hours. Curriculum proposals and exercise suggestions are distributed each term.

E-Learning

In course delivery as online courses, lecturer will, in collaboration with the student administration, organize an appropriate course implementation, combining different learning activities and digital elements on the learning platform. The online students are also offered a study guide that will contribute to progression and overview. Total recommended time spent for completing the course also applies here.

Software tools
No specified computer-based tools are required.
Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

The course requieres knowledge corresponding to following courses or eqivalent:
BØK 3411 Finance and Managerial Accounting I, BØK 3421 Finance and Managerial Accounting II, BØK 3531 Financial Accounting and Financial Statement Analysis, BØK 3541 Managerial Accounting and Control.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
BØK36472
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination every semester
100Yes6 Hour(s)
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Duration:6 Hour(s)
Comment:
Exam code: BØK36472
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching90Hour(s)
Prepare for teaching70Hour(s)
Self study120Hour(s)
Group work / Assignments120Hour(s)
Expected student effort:
Workload activity:Teaching
Duration:90 Hour(s)
Comment:
Workload activity:Prepare for teaching
Duration:70 Hour(s)
Comment:
Workload activity:Self study
Duration:120 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:120 Hour(s)
Comment:
Sum workload: 
400

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 15 ECTS credit corresponds to a workload of at least 400 hours.