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Financial Accounting (6084)

Introduction

Part 1: Introduction to accounting:

  • The principle of double entry accounting

  • The profit and loss statement - accruals and deferred income and expenses

  • Value added tax

  • Limited company

  • Tabular annual closing of accounts

  • Presentation of profit and loss statement and balance sheet

 

Part 2: The Norwegian Act of Accounts

The main principles in chapter 4.

The main rules for evaluation for current assets, fixed assets and liabilities in chapter 5, including

  • Intangible assets

  • Operating assets

  • Inventory

  • Accounts receivable

  • Shares

  • Currency records

 

Part 3: Accounting Analysis

  • Facilitate the financial statement for analysis

  • Basic accounting analysis

Rate of return

Liquidity

Funding

  • Cash flow analysis

  • Evaluation of companies

Course Content

Part 1: Introduction to accounting:

  • The principle of double entry accounting

  • The profit and loss statement - accruals and deferred income and expenses

  • Value added tax

  • Limited company

  • Tabular annual closing of accounts

  • Presentation of profit and loss statement and balance sheet

 

Part 2: The Norwegian Act of Accounts

The main principles in chapter 4.

The main rules for evaluation for current assets, fixed assets and liabilities in chapter 5, including

  • Intangible assets

  • Operating assets

  • Inventory

  • Accounts receivable

  • Shares

  • Currency records

 

Part 3: Accounting Analysis

  • Facilitate the financial statement for analysis

  • Basic accounting analysis

Rate of return

Liquidity

Funding

  • Cash flow analysis

  • Evaluation of companies

Learning Outcomes

Knowledge

The student...

  • has knowledge of the information the accounts provide the users
  • has knowledge of posting and closing accounts
  • has basic knowledge of relevant laws and regulations in connection with the accountancy.
  • has knowledge of the standard chart of accounts
  • has knowledge of the need for accounting analysis and how to carry it out.
  • has knowledge of the content of a cash flow analysis

 

Skills

The student...

  • can post the most common items, set up the final balance for common accounts with standard account numbers, and thus present profit and loss account.
  • can perform essential accruals at the end of an accounting period
  • can explain the relation between transactions and their impact on profit and loss and the balance sheet.
  • can make annual reports with simple annual accounts postings and allocation of profits in companies
  • can present profit and loss statement and balance sheet in accordance with the Norwegian Act of Accounting.
  • can perform the principal accounting measurement and valuation issues
  • can facilitate and correct figures in the accounts to aid analysis
  • can calculate key figures in connection with accounting analysis and provide an evaluation of the company¿s profitability, liquidity and financing and solidity.
  • can analyze the cash flow statement
  • can perform valuation of a company

 

General competence

The student...

  • has basic knowledge of financial accounting and can post items and close and accounts.
  •  has knowledge of the main principles and the most important evaluation rules in the Norwegian Act of Accounting.
  • has sufficient knowledge to analyze a financial statement, and provide a substantiated evaluation of the companies profitability, financing and solidity.

Degree

Bachelor of Administration and Management

Bachelor of Administration and Management - Authorisation as an external accountant

Bachelor of Economy and Management - profiling external accountant/Kristiania University College, Department of Online Education.

Learning activities

The subject is completed in the form of internet-based tuition where students can study at their own pace. The course of study is based on work with a reading list, guidance texts, interactive tasks and video lectures. The subject has an expert supervisor who answers written questions and provides feedback.

 

Students have 18 months to complete the course.

Student work load

210 hours

Links to industry

Not submitted

Compulsory assignments

Coursework requirements: Written assignment

Qualified: G/IG (approved/not approved)

Examination support materials: Calculator and special printing of the Accounting Act

The coursework must be approved for the student to be allowed to take the final written examination in the course.

Examination

Exam type: Individual written exam

Duration: 3 hours

Grading scale: Norwegian grading system using the graded scale A - F. Fail (F) is not included in the distribution

Weighting: 100 % of the overall grade

Aids: Basic calculator without memory and the Auditor's Handbook

Syllabus

Kristoffersen, Trond. 2019. Årsregnskapet: en grunnleggende innføring. 6. edition. Bergen: Fagbokforlaget. ISBN: 9788245032109. Chapter 1 - 26, 27 - 27.3 and 30-34 (460 pages). Price: 599,-

 

Kristoffersen, Trond. 2019. Årsregnskapet: en grunnleggende innføring: oppgavesamling med løsninger. 6. edition. Chapter 1 - 26, 27 - 27.3 and 30-34, Bergen: Fagbokforlaget. ISBN: 9788245032116. (370 pages). Price: 339,-

Total Amount of Pages

830 pages