Business Accounting (5 ECTS)

Objective

Upon completion of the course, the student
• is able to comprehend general accounting principles and to construct financial statements based on business transactions
• is able to identify elements of income statement, balance sheet and cash flow statement
• is able to interpret financial statements
• understands the components of working capital.

Content

• Accounting principles and contents of financial statements
• Understanding the income statement, balance sheet and cash flow statements
• Revenue and expense recognition, value added tax
• Working capital management
• Basics of interpreting financial statements

Location and time

Classes are held on a weekly basis, 3 x 45 minutes.

Materials

Materials will be shared on the course Moodle site.
Course book will be announced later.

Teaching methods

Contact teaching

Employer connections

Accounting is presented in the context of a business and practical real life cases are solved during the course.

Exam schedules

Exam date will informed later on Moodle. Exam can be retaken twice if failed and once if upgraded in the electronic exam room (dates to be informed via Moodle).

International connections

Course topic is highly global as accounting principles are generally accepted in all countries.

Completion alternatives

RPL (AHOT in Finnish)

Student workload

5 ECTS - equivalent to 135 hours of studying will be split to various learning activities approximately as follows:

Lectures 45 hours
Independent weekly studying 12 x 3 hours = 33 hours
Individual assignments 15 hours
Exam preparation 21 hours
Group work 21 hours

TOTAL 135 HOURS

Content scheduling

Course concepts are built on top of the prior learnings and therefore it is essential to study carefully from the beginning of the course. Course concepts form a whole and various topics cannot be studied without understanding of the previous topic handled.

Course starts with basic double-entry bookkeeping technique which is widened towards the constructing of financial statements.

Further information

Active participation is a key to succeed on this course.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.

Assessment criteria, good (3)

The student
• has achieved the objectives of the course well, although there are still areas where knowledge and skills need to be improved
• has a good understanding of the concepts and models of the subject matter of the course and is able to carry out a reasoned analysis
• is able to apply what they have learned in leisure, learning and working life situations
• understands the importance of expertise in business and is able to analyse their own expertise.

Assessment criteria, excellent (5)

The student
• has achieved the objectives of the course with excellent marks
• has an excellent command of the concepts and models of the subject matter of the course
• is able to analyse clearly and reasonably and propose practical development measures
• has a good ability to apply what they have learned in leisure, learning and working life situations
• is able to analyse expertise in business and their own development towards expertise.

Assessment criteria, approved/failed

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.

Assessment methods and criteria

scale 0-5: 50-59p = 1, 70-79p = 3, 90-100p = 5
Exam 60%
Individual assignments 20%
Group assignment 15%
Class activity 5%

Exam must be passed in order to pass the course. Assignments cannot be retaken.