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REV 3571 Advanced financial accounting and accounting theory

APPLIES TO ACADEMIC YEAR 2016/2017
Norwegian version

REV 3571 Advanced financial accounting and accounting theory


Responsible for the course
Tonny Stenheim

Department
Department of Accounting - Auditing and Business Analytics

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
This course is part of the total program for education in financial reporting for auditors.

Learning outcome
Acquired Knowledge
After completing the course students will have:

  • Acquired knowledge within the framework for the calculation of deferred taxes, and the group accounting in Norway.
  • Accumulated knowledge of accounting theoretical issues in the light of international accounting development.
  • Acquired knowledge of reporting and measurement of the key accounts and basic accounting principles.

Acquired Skills
After completing the course students will be able to:
  • Prepare and finalize financial accounts, including tax records and profits, for ASA’s.
  • Clarify the main differences between the accounting and tax rules.
  • Clarify the conceptual framework of IFRS.
  • Explain the difference between business economic theory and assumptions of the financial statements.

Reflection
Students will develop an understanding of and can reflect on the user groups ' information needs and the need for financial regulation. Furthermore, they develop their attitudes to professional collaboration and project-work.

Prerequisites
Courses in the same area previously in the study programme or similar.

Compulsory reading
Books:
Baksaas, Kjell M. og Stenheim, Tonny. 2015. Regnskapsteori. Cappelen Damm Akademisk
Schwencke, Hans Robert... [et al.].. Årsregnskapet i teori og praksis. siste utg. Gyldendal akademisk


Recommended reading
Books:
Roy Kristensen ... [et al.]. 2014. Årsregnskapet : oppgavesamling med løsningsforslag. 8. utg. Gyldendal akademisk.

Course outline
  • Central elements in valuation for taxation purposes
  • Calculation of deferred tax
  • Accounting for deferred tax in the financial statements and the tax assessment
  • Accounting for acquisition of subsidiaries
  • Elimination of internal transactions in the consolidated financial statements
  • Other topis related to consolidated financial statements
  • International accounting
  • Accounting theory
  • Short about other issues like small companies, disclosures and management`s report

Computer-based tools
Computer-based tools are not used in this course.

Learning process and workload
The course consists of 45 hours of lectures. Only the most central topics will be covered in the lectures. The students must acquire knowledge on the topics up front of the lectures and in-depth knowledge by studying and doing excercises after the lectures (self-tuition). As a part of the learning process the student shall also work on cases within topics deferred taxes and consolidated financial statements.

Recommended workload in hours
Activity
Hours
Participation at lectures
45
Preparations for lectures
45
Self-tuition/reading syllabus (incl supervising)
50
Working on cases/assignments
57
Exam
3
Total recommended time use
200

E-learning
In course delivery as online courses or evening classes, will lecturer, in collaboration with the Academic Services Network and evening studies, organize an appropriate combination of digital and class room teaching. Online students are also offered a study guide, which will help progression and overview. Total recommended amount of time for completion of the course also applies here.



Examination
Final grade are based on follwing activities and weights:

- Project paper, accounts for 40% of final grade. The project paper can be solved individually or in groups up to three students.
- A three hours indivdual written examination, accounts for 60% of final grade.

Both exams must be passed in order to obtain final grade.

Examination code(s)
REV 35711 - Project paper, counts 40% towards the final grade in REV 3571 Advanced financial accounting and accounting theory, 7.5 credits.
REV 35712 - Written examination, counts 60% towards the final grade in REV 3571 Advanced financial accounting and accounting theory, 7.5 credits.


Examination support materials
All support materials + BI approved exam calculator. Examination support materials at written examinations are explained under examination information in the student portal @bi. Please note use of calculator and dictionary in the section on support materials (https://at.bi.no/EN/Pages/Exa_Hjelpemidler-til-eksamen.aspx).

Re-sit examination
Re-sit examination is offered every term.

Additional information