Consolidated Financial Statements and International Accounting Standards IFRS (5 cr)

Objective

Upon completion of the course students will be familiar with the essential elements of consolidated financial statements. The student will be able to eliminate the margins of internal transactions and mutual ownership. The student will be able to recognize minority interests. The student will be able to combine affiliated companies. The student will be familiar with the essential principles of IFRS financial statements and understand the differences between an IFRS statement and Finnish financial statement practices

Content

- Consolidated financial statement
- IFRS statement

Location and time

Autumn 2024

Materials

Material at Oma

Tomperi: Kehittyvä kirjanpitotaito, Oy Edita Ab, 2023
Tomperi: Kehittyvä kirjanpitotaito - Harjoituskirja, Oy Edita Ab, 2023

Virpi Haaramo, Sirkku Palmuaro ja Elina Peill: IFRS-raportointi (päivittyvä julkaisu). Alma Talent. https://verkkokirjahylly.almatalent.fi/teos/EAGBGXCTDG#kohta:IFRS-RAPORTOINTI/piste:tNT

Teaching methods

Activating lectures
Guided exercises
Learning tasks
Exam

Exam schedules

Exam in October 2024
First re-exam in December 2024
Second re-exam in February 2025

Student workload

Contact lessons 39 hours
Exercises and independent studying 86 hours
Total 125 hours

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment criteria, good (3)

The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.

Assessment criteria, excellent (5)

The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.

Assessment criteria, approved/failed

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment methods and criteria

Grading the course

5 total points 90-100%
4 total points 80-89%
3 total points 70-79%
2 total points 60-69%
1 total points 50-49%

The student's completed other task, activity during the course and/or given course feedback can be taken into account as a factor that increases the grade.

Qualifications

Financial Statement Analysis or equivalent competences