Introduction to Accounting, Financial Accounting
Study Board of Business Economics
Teaching language: English
EKA: B220025102
Censorship: Second examiner: None
Grading: 7-point grading scale
Offered in: Odense
Offered in: Spring
Level: Master
Course ID: B220025101
ECTS value: 5
Date of Approval: 11-09-2018
Duration: 1 semester
Course ID
Course Title
Teaching language
ECTS value
Responsible study board
Date of Approval
Course Responsible
Offered in
Level
Offered in
Duration
Mandatory prerequisites
Recommended prerequisites
The course builds on parts of the courses in Microeconomics and in Entrepreneurship and Small Business Management. Therefore, a reasonable insight into the subjects covered in these courses is required.
Aim and purpose
Every organization needs insight into the economic consequences of decisions made. The economic portrait of organizational units, business areas and the company as a whole is a central part of the information that is utilized when making business plans.
In order to be able to use this information as well as make contributions to its creation in various situations the student needs to know the basic principles, models and methods that govern the structuring of a company’s accounting system. Accounting statements include various analyses for internal use in the company as well as the company’s financial report which is primarily used external stakeholders.
The educational training in the area of financial accounting shall provide knowledge and competences so the graduate is able to be part of a firm’s accounting/controllership functions, and can prepare use and analyze, at a qualified level, the information in financial statements.
Content
The course focuses on two main areas: The preparation and use of financial statements/annual reports (financial accounting).
Central themes are:
• External stakeholders’ demand for and use of accounting information.
• Principles and methods of recognizing and measuring a number of specific items related to the firm’s annual report.
Learning goals
To fulfill the purposes of the course the student must be able to: Demonstrate a basic knowledge about the course focus areas enabling them to:
•Identify, describe and evaluate alternative accounting methods that might be used in specific situations in the annual reports, also involving considerations about relevance and reliability and management incentives.
•List and describe relevant concepts and definitions.
•Explain and relate concepts and definitions to specific economic decision problems.
Demonstrate skills, such that the student is able to:
•Initiate and make simple registrations in a bookkeeping system including such systems used in a production company.
•Use the bookkeeping system as a basis for the annual closing of the books and drawing up of an income statement and ending balance sheet.
•Calculate and demonstrate how the income statement and ending balance sheet is affected by various transactions and events.
Demonstrate competences, such that the student is able to:
•Choose, describe and use appropriate accounting methods and models for specific items in the annual report; among others revenues, costs of goods sold, financial income and expenses, income taxes, fixed assets, inventories, equity and debt.
•Utilize various accounting calculations to prepare financial statements for the external stakeholders of the firm.
Literature
Literature examples:
•Horngren, Charles T.; Gary L. Sundem; John A. Elliot; Donna Philbrick: Introduction to Financial Accounting, Global edition, latest edition, Pearson.
Teaching Method
Classes are organized such that the teacher in lectures will support the student’s knowledge of main subjects from the course. The student’s understanding of the principles and methods and their skills in using them is supported by TA classes in which possible solutions to exercises, problems and cases related to the subjects dealt with in the weekly classes are discussed. Therefore, students should prepare, preferably in groups, solutions to the exercises, problems and minor cases for the TA classes.
Workload
Scheduled classes:
2 hours weekly classes for 15 weeks equally spread across the spring semester plus 2 hours student teacher’s assistant classes (TA classes) every second week throughout the semester.
________
Student workload is estimated as follows:
Class hours:30 hours.
Preparation for classes: 37.5 hours.
TA classes: 15 hours.
Preparation for TA classes: 37.5 hours.
Preparation for exams: 13 hours.
Exams: 2 hours.
Total: 135 hours.
Examination regulations
Exam
Name
Exam
Timing
Exam: June.
Reexam: August.
Examination form may be altered for the reexamination, eg. from written to oral examination.
Tests
Exam
Name
Exam
Form of examination
Written examination on premises
Censorship
Second examiner: None
Grading
7-point grading scale
Identification
Student Identification Card - Exam number
Language
English
Duration
2 hours written exam.
Length
No limit.
Examination aids
All exam aids allowed. Accessing the internet is not allowed. It is not allowed to communicate with others inside or outside the examination room.
Assignment handover
In the examination room.
Assignment handin
In SDU-assignment via the course page in Blackboard.
ECTS value
5
Additional information
The exam takes place at the university with own PC, which must be able to connect to SDU wifi.
Internet Access: Necessary. The internet can only be used to access SDUassignment for handing in the test.
The exam consists of a number of problems/exercises intended to test, on a sample basis, the student’s understanding and skills in all subjects covered throughout the course.
EKA
B220025102
External comment
NOTE - This course is identical with the former course 8829801 Introduction to Financial Accounting (supplementary course for M.Sc. in Economics and Business Administration).
Used examination attempts in the former identical course will be transferred.
Courses that are identical with former courses that are passed according to applied rules cannot be retaken.
The student is automatically registered for the first examination attempt when the student is registered for a course or course element with which one or more examinations are associated. Withdrawal of registration is not possible, and students who fail to participate in an examination have used one examination attempt, unless the University has made an exemption due to special circumstances.
Please note:
Students taking this course as supplementary studies after admission to the Master's degree programme must, no later than 6 months after the start of the Master's degree programme pass the exam in the course. There are 2 attempts to pass an examination, an ordinary exam in June and reexamination in August.
Students taking this course as supplementary studies after admission to the Master's degree programme must, no later than 6 months after the start of the Master's degree programme pass the exam in the course. There are 2 attempts to pass an examination, an ordinary exam in June and reexamination in August.
If the course is taken as an elective course on a bachelor programme:
Registration for the course is automatically a registration for the ordinary examination in the course. Cancellation is not possible. If the student does not participate in the examination, the student will use one examination attempt.