Learning outcome

On completing the course students will:

• Have gained good knowledge of key standards for financial statements
• Have acquired knowledge of an organization’s financial reporting obligations
• Have gained knowledge of ethical accounting issues, including matters concerning accounting manipulation
• Be able to recognize and measure all the main items in an income statement and balance sheet and specification in the financial statements
• Be able to apply knowledge to practical accounting problems and their impact on profit and loss
• Be able to prepare an organizational merger having regard to tax and minority interest
• Be able to prepare a consolidated financial statement
• Be able to prepare financial statements using the equity method
• Be able to describe the requirements for the most important items in financial statements and annual reports
• Have acquired knowledge of the process of preparing financial statements and be an active contributor in a professional accounting environment
• Be able to acquire updated knowledge in the above knowledge and skill areas, and have knowledge of other areas within the subject area
• Be able to convey key subject matter through appropriate forms of expression
• Be able to exchange views and experiences with other professionals, and contribute to the development of good practice
• Be able to contribute to new thinking and innovation processes
• Be able to reflect on ethical issues within the field
• Be able to view the content of the course in a broader context from a social perspective

Course Description

The main content of the course:

• General requirements for financial statements
• Managing the main items in the balance sheet and income statement, including the use of accounting standards
• Notes to the financial statements
• Annual reports
• Consolidated group accounts – group taxation – the equity method – mergers and demergers

Teaching and Learning Methods

Lectures and practical exercises in the spring semester.

Assessment Methods

Compulsory coursework assignment(s). Term papers which must achieve a passing grade in order for the student to be entitled to take the final examination. Written final examination, 6 hours.
In order to qualify as a registered public accountant candidates must achieve a grade of C or better in the course.

Minor adjustments may occur during the academic year, subject to the decision of the Dean