REV 3575 Financial Accounting and Auditing
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APPLIES TO ACADEMIC YEAR 2013/2014
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REV 3575 Financial Accounting and Auditing
Responsible for the course
Janicke L Rasmussen, Hans Robert Schwencke
Department
Department of Accounting - Auditing and Law
Term
According to study plan
ECTS Credits
10
Language of instruction
Norwegian
Introduction
This course is part of the total program for education in financial reporting for auditors.
Learning outcome
Acquired Knowledge
Students will acquire knowledge within the framework for the calculation of deferred taxes in the consolidated Norway. In addition, students will gain insight into accounting theory in the perspective of international accounting development.
Acquired Skills
Students will develop skills in the preparation of financial statements and accounting theorethical topics.
Reflection
They will develop good attitudes to professional collaboration and project work.
Prerequisites
Courses in the same area previously in the study programme or similar.
Compulsory reading
Books:
Elling, Jens Oluf. 2012. Finansiel rapportering : teori og regulering. 3. udg. Gjellerup
Huneide, Jens-Erik. ... [et al.]. Årsregnskapet i teori og praksis. Siste utg. Gyldendal akademisk. Utvalgte kapitler
Recommended reading
Books:
Kristensen, Roy, Janicke L. Rasmussen og Tom Engelsborg. 2010. Årsregnskapet : oppgavesamling med løsningsforslag. 7. utg. Gyldendal akademisk. Utvalgte kapitler
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
- Accounting for minority interests in the consolidated financial statements
- Deferred tax in the consolidated financial statements
- International accounting
- Accounting theory
Computer-based tools
Computer-based tools are not used in this course.
Learning process and workload
The course consists of 30 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 two cases within the main topics (deferred tax and consolidated financial statements). These cases will be reviewed in audience.
Recommended workload in hours
| Activity | Hours |
| Participation at lectures | 48 |
| Preparations for lectures | 60 |
| Self-tuition/reading syllabus (incl supervising) | 80 |
| Working on cases/assignments | 80 |
| Exam | 3 |
| Total recommended time use | 271 |
Examination
Final grade are based on follwing activities and weights:
- Project paper, accounts for 40% of final grade. Term 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 35751 - Project paper, counts 40% towards the final grade in REV 3575 Financial Accounting and Auditing, 10 credits.
REV 35752 - Written examination, counts 60% towards the final grade in REV 3575 Financial Accounting and Auditing, 10 credits.
Examination support materials
All support materials + calculator TEXAS INSTRUMENTS BA II Plus™ are allowed.
Exam aids at written examiniations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids
Re-sit examination
This course will be lectured for the last time spring 2014, and re-sit examiniation will be offered autumnl 2014 and spring 2015.
Additional information