BØK 3647 Financial Accounting
BØK 3647 Financial Accounting
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).
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.
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.
The students should be conscious about the importance of accurate financial accounts.
Accounting theory
- Focus on the user groups of company 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
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.
Higher Education Entrance Qualification
Covid-19
Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.
Teaching
Information about what is taught on campus and other digital forms will be presented with the lecture plan before the start of the course each semester.
The course requires knowledge corresponding to following courses or equivalent:
BØK 3422 Managerial Accounting, BØK 3423 Finance, BØK 3532 Financial Accounting and Financial Statement Analysis, BØK 3541 Managerial Accounting and Control.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 6 Hour(s) Exam code: BØK36472 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 90 Hour(s) | |
Prepare for teaching | 70 Hour(s) | |
Student's own work with learning resources | 120 Hour(s) | |
Group work / Assignments | 120 Hour(s) |
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.