BUS215 Financial Accounting and Bookkeeping

The purpose of the course is to give students an in-depth knowledge of the most central challenges withconsolidation, measurement and presentation of the annual financial accounts in accordance with accepted accounting practice for corporations.

The subject will also provide a basis for reflection on key parts of the theoretical foundation for financial accounting, and an in-depth look at the bookkeeping regulations and how they are practiced, and various issues related to value added tax.

Upon passing the course, the student will have the following learning outcomes:

Knowledge

Bookkeeping

The student will have:

• in-depth knowledge of the basic bookkeeping principles and central parts of good bookkeeping practice

Financial accounting

The student will have:

• in-depth knowledge of the basic accounting principles and what is considered good accounting practice.

• in-depth knowledge on the consolidation and measurement of the most important accounting entries

• in-depth knowledge of the accounting rules for small businesses, including accounting notes

• knowledge of and the ability to reflect on the information needs of the different user groups and their demand for regulatory intervention???

• knowledge about result- og balanseorientering - forstår ikke????

• know other regulations for notes and annual reports, including sustainability reporting

• know the most important differences between accounting rules and taxation rules

• know the difference between cost accounting and financial accounting (current accounting regulation) and the ability to analyze cash flows

Skills

Bookkeeping

The student can:

• post and quality assure transactions and other accounting events , including analysis of the consequences of different processing of VAT

• prepare and quality assure external accounting reporting using reconciliations and other analysis techniques

Financial accounting

The student:

• can close the annual accounts for corporations, including taxation and distribution of net income

General knowledge:

The student can:

• acquire updated knowledge within the above mentioned areas of competence and skills

• communicate central subject matters using relevant forms of expression (eller bare relevant language)

• exchange points of view and experience with other professionals and contribute to the further development of good accounting practice

• view the subject matters in a larger societally context and perspective