REV 3625 Financial Statements / International Financial Reporting Standards (IFRS) - RE-SIT EXAMINATION
REV 3625 Financial Statements / International Financial Reporting Standards (IFRS) - RE-SIT EXAMINATION
The course was taught for the last time in the academic year 2019/2020. Last re-sit examinations are offered in the fall of 2020 and the spring of 2021.
| REV 3626 | |
| REV 3627 |
This course is part of the statutory curriculum for approval as a Norwegian registered public accountant. The course gives the student in-depth knowledge in producing and evaluating whether an annual report is produced accouding to various generally accepted accounting principles (NGAAP and IFRS).
The course will give the students
- Kwowledge about cantral accounting standards for producing annual accountsd
- Knowledge about the company's responsibility for reporting about CSR
- Knowledge about ethical issues in accounting, including the line between ethical behaviour and manipulation of accounts
- Ability to describe the regulation regarding notes to the financial statements and the annual report
- Knowledge about the process of producing annual accounts and being an active contributor in an accounting environment
The course will give the students
- Ability to calculate and measure all the main items in a profit and loss statement and balance statement and specifications to the annual accounts
- Ability to apply the knowledge in practical accounting cases and its influence on the profit and loss and balance sheets
- Ability to produce accounts for business acquisition with tax and minority interests
- Ability to produce consolidated accounts
- Ability to produce accounts with use of the equity method
The students should be aware of the importance of accurate and informative financial reports. Annual accounts and reports contain important information to owners, investors, business partners and other parties conserned, and should comprehend the importance of the financial reporting for these parties. The course will give the students:
- Ability to acquire updated knowledge in the areas mentioned above and other areas connected with financial reporting
- Ability to communicate central subject matters in relevant ways
- Ability to exchange viewpoints and experience with fellow professionals and contribute in developing best practice in the area
- Ability to contribute and back up innovation processes
- Ability to reflect on ethical problems in the area
- Ability to see the topics in a larger picture and from a social perspective
- The program includes the following main topics:
- Norwegian and international accounting regulation
- Fundamental accounting principles
- Generally accepted accountancy principles
- Valuation rules and accrual rules
- Requirements related to annual accounts and reports
- Consolidated accounts
- Equity method
The course is taught in teaching sessions over two terms. The students are enrolled in the relevant part of the course, REV 3626 and REV 3627, each semester.. The teaching is based on 90 lecturing hours.
Curriculum proposals and exercise suggestions are distributed each semester.
The candidate must have grade C or better at the exam in this course in order to be approved as a registered auditor. (registrert revisor).
Re-sit examiniation
Re-sit examination is offered every semester for REV 36252 and REV 36253.
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.
The first two years of the program or equivalent.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Invigilation Grouping: Individual Support materials:
Duration: 3 Hour(s) Comment: (Will be based on the curriculum which has been covered in the fall semester). Exam code: REV36252 Grading scale: Pass/fail Resit: Examination every semester |
Exam category: Submission Form of assessment: Written submission Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 6 Hour(s) Comment: (Will be based on the full course curriculum). Exam code: REV 36253 Grading scale: ECTS Resit: Examination every semester |
All exams must be passed to get a grade in this course.
| Activity | Duration | Comment |
|---|---|---|
Teaching | 90 Hour(s) | |
Prepare for teaching | 64 Hour(s) | |
Student's own work with learning resources | 120 Hour(s) | |
Group work / Assignments | 120 Hour(s) | |
Examination | 6 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.