Introduction to Accounting (2 cr)

Objectives (course unit)

This course, ABC of accounting, introduces the fundamentals of company accounting principles and practices. The perspective is practical, including both financial and management accounting themes.

After completing the course, the students will be able to:
• understand the role and relevancy of finance function within a company
• understand relevant finance and accounting terminology
• utilize key finance and accounting elements of a company

Content (course unit)

• What are Profit & Loss, Balance sheet and Cash Flow?
• What are financial and management accounting about?
• What is double entry bookkeeping system?
• How to evaluate business financials?

Assessment criteria, satisfactory (1-2) (course unit)

The student recognizes the role of accounting in a company and relevant accounting principles and practices. The student can name the most relevant topics in financial accounting and sees the purpose of operating a business. The student identifies the principles of bookkeeping and financial statements and can make basic bookkeeping postings. He/she recognizes the key principles of Finnish business taxation and legal obligations. The student is able to give and receive feedback and take responsibility as an individual learner, and act as part of a team.

Assessment criteria, good (3-4) (course unit)

The student is able to structure the connection between profitability, balance sheet and cash flow. The student can apply the principles of double entry postings and name the phases of year end close. The student is able to apply calculations for VAT, payroll and other obligations; he/she can make simple year end closings based on financial accounting process. The student is able to give and receive constructive feedback and develop his/her interaction skills, adding value to the team.

Assessment criteria, excellent (5) (course unit)

The student adapts the course themes at advanced level. He/she expands the context with curiosity and analyses the course themes actively. The student finds the path towards academic approach and uses relevant information sources. The student is able to evaluate and assess financial accounting processes and build creative solutions by combining the course themes. The student pays needed attention to detail in cases, looks for alternative perspectives. The student uses feedback to iterate the learning process. The student is able to develop creative and constructive working methods and bring professional commitment throughout the course.

Location and time

According the schedule

Exam schedules

To be informed during the first course lecture

Assessment scale

0-5

Teaching methods

Contact teaching and selected exercises, on-line teaching as needed

Learning materials

the course slides, other materials to be informed during the lectures

Student workload

The course is 2 credits, 54 hours of student work

Content scheduling

The course is focused on introducing the fundamentals of accounting, specially financial accounting. The selected themes by the sessions are specified during the first lecture.