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GRA 6211 Financial Accounting Theory

GRA 6211 Financial Accounting Theory

Course code: 
GRA 6211
Department: 
Accounting, Auditing and Business Analytics
Credits: 
6
Course coordinator: 
Erlend Kvaal
Product category: 
Master
Portfolio: 
Master of Accounting and Auditing
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

This course belongs to the major in Business Law, Tax and Accounting as a 1st semester compulsory course. Final class for this major is 2017-2019, and resit examinations will be planned. The course is also offered as a 3rd semester elective for Master in Accounting and Auditing. 

What is the relationship between accounting information and economic realities? This course provides insight into the fundamental functions of financial reporting and its theoretical basis.

Learning outcomes - Knowledge

Students shall learn about the connections between the accounting information of firms and their surroundings. This includes knowledge about how the accounts reflect the reporting firm’s financial conditions and how the accounting information is used and understood by the financial statement users. What is the content of the economic concepts of income and wealth and how do they rate to the accounting concepts of profit and equity? What is the role of financial reporting for participants in the capital market, and to what extent does financial statement information have unintended economic consequences? To what extent is financial reporting biased to meet specific objectives (earnings management)? The course also covers the history of accounting and the reasons for public regulation of financial reporting.

Learning outcomes - Skills

Students shall learn to apply and analyse accounting information in a wider corporate and societal context.

General Competence

Students shall learn to consider critically the content of financial reporting.

Course content
  • History of the accounting discipline
  • Relationship with economic factors
  • Accounting models
  • The financial statement as a source of information for the capital market
  • Earnings management and other economic consequences
  • Standard setting
Teaching and learning activities

A combination of  lectures, discussions and exercises.

Software tools
No specified computer-based tools are required.
Additional information

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class.

All parts of the assessment must be passed in order to get a grade in the course.

Qualifications

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA62112
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
30No1 Semester(s)Group (1 - 3)Term paper
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA62113
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
70Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual Written examination under supervision.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:30
Invigilation:No
Grouping (size):Group (1-3)
Support materials:
Duration:1 Semester(s)
Comment:Term paper
Exam code:GRA62112
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam category:Submission
Form of assessment:Written submission
Weight:70
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:Written examination under supervision.
Exam code:GRA62113
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100