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Financial Accounting (5 cr)

Code: AL00CE36-3004

General information


Enrollment

01.07.2022 - 04.09.2022

Timing

01.09.2022 - 31.12.2022

Number of ECTS credits allocated

5 op

Mode of delivery

Contact teaching

Unit

Faculty of Business and Hospitality Management (LAB)

Campus

Lahti Campus

Teaching languages

  • English

Seats

0 - 50

Degree programmes

  • Bachelor's Degree Programme in International Business

Teachers

  • Tatu Saarinen

Scheduling groups

  • Luennot (Size: 0. Open UAS: 0.)

Groups

  • LLTIIB22K

Small groups

  • Lectures

Learning outcomes

The student is able to
- record business transactions into bookkeeping in a small company and draw up its profit/loss account and balance sheet
- calculate the amount of VAT payables
- analyze company's profitability, solidity and liquidity through financial ratios

Implementation and methods of teaching

Contact lessons 3 h/week
Exercises
Mandatory individual assignments
Two exams

Timing and attendance

Contact lessons 3 h/week, participation highly recommended

Learning material and recommended literature

Course slides, exercises and other material provided by the teacher at Moodle

Alternative completion methods

The recognition of prior learning: https://elab.lab.fi/en/completing-studies/planning-your-studies/rpl-recognition-prior-learning

Exam retakes

Re-examinations are agreed separately at the end of the course

Learning environment

Campus
Moodle
Home

Student time use and work load

One ECTS equals 27 hours of study.

Contents

Accounting laws and regulations
General accounting principles
Change in stock, depreciation, accruals
Financial statements
Principles of value-added tax
Financial ratios

Additional information for students: previous knowledge etc.

Prior knowledge of the subject is not required

Assessment criteria

Both exams will be evaluated on scale 1 to 5. Course grade is formed from:
Theory exam grade (50 % of the grade)
Accounting exam grade (50 % of the grade)
Assignments will be evaluated pass / fail
Course grade is based on the exam results. In addition, both assignments has to be completed.
Fail grade from the assignment or unreturned assignment will result to -1 reduce for the course grade. This applies to both assignments.

Assessment scale

1-5

Failed (0)

The student can not implement accounting rules into practice and shows no understanding of accounting at all

Assessment criteria: level 1 (assessment scale 1–5)

The student can use basic accounting rules and understands the importance of accounting

Assessment criteria: level 3 (assessment scale 1–5)

The student can enter the business transactions correctly into bookkeeping and prepare financial statements

Assessment criteria: level 5 (assessment scale 1–5)

The student can enter the business transactions including VAT correctly into bookkeeping and is able to interpret the financial statements through financial ratios