BØK 3647 Financial Accounting

BØK 3647 Financial Accounting

Course code: 
BØK 3647
Accounting and Operations Management
Course coordinator: 
Janicke Rasmussen
Course name in Norwegian: 
Product category: 
Bachelor of Bus.Adm. with Accounting - Programme Courses
2023 Autumn
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

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 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 conceptual 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.


Where the course is delivered as an online course, the lecturer will, in collaboration with the study administration, arrange an appropriate combination of digital learning resources and activities. These activities will correspond to the stated number of teaching hours delivered on campus. Online students are also offered a study guide that will provide an overview of the course and contribute to course progression. The total time students are expected to spend completing the course also applies to online studies.

Software tools
No specified computer-based tools are required.

Higher Education Entrance Qualification


Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge

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.

Exam category: 
Form of assessment: 
Written submission
Support materials: 
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
  • Digital resource: Lovdata Pro (Digital Exam Mode)
6 Hour(s)
Exam code: 
Grading scale: 
Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
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)
Sum workload: 

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.