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Introduction to Financial Accounting

Structure Type: Study unit
Code: TLA0305
Type: Compulsory / Basic Studies
Curriculum: LT 2015V
Level: Bachelor of Business Administration
Year of Study: 1 (2015-2016)
Credits: 6 cr
Responsible Teacher: Lehtimäki, Harri
Language of Instruction: Finnish

Courses During the Academic Year 2015-2016

Impl.Group(s)Study TimeTeacher(s)LanguageEnrolment
28T-LT-1V2015-08-21 – 2015-12-18Harri Lehtimäki, Mika YlinenFinnish2015-08-12 – 2015-09-13

Learning Outcomes

The student understands the objectives and procedures related to financial accounting in a business and professional setting, knows the fundamental principles of financial accounting, closing of the accounts and Finnish value added taxation. The student develops practical skills for maintaining accounting records by using accounting software. The student can read and analyze annual statements issued by small companies.

Student's Workload

Lectures and exercices 80 h, preparing for the tests 20 h, course work 20 h, autonomous studies 60 h

Prerequisites / Recommended Optional Courses

No prerequisites

Contents

Basic concepts, rules and legislation concerning financial accounting, amortization of acquisition costs, invoices and credit invoices, discounts and freights, Finnish value added taxation, wages and personnel related social expenses, advance payments, journal and general ledger, preparation of profit and loss account and balance sheet, accruals. The bookkeeping process and closing of the accounts in a small business by using accounting software, financial statements and analysis of financial business information.

Regional Impact

The Basic Skills of Accounting to the Use of Regional Companies. Accounting and financial statements are legal measures that entrepreneurs in the region have to manage.

Internationality

Understanding the Basics of Bookkeeping also when you are working with International Issues. The financial statements are an important report on the envisaged international operations.

Recommended or Required Reading and Other Learning Resources/Tools

Tomperi, Soile. Uusin painos. Käytännön kirjanpito. Helsinki. Edita.
Tomperi, Soile – Keskinen, Virpi. Uusin painos. Käytännön kirjanpito. Harjoituskirja. Helsinki. Edita.
Handouts

Mode of Delivery / Planned Learning Activities and Teaching Methods

Lectures, exercises, self-reliant studying.

Assessment Criteria

5 the student can give reasons for solutions made when acting in tasks of an expert. He can recognise development needs in the field.
3 the student can utilize essential conseps in a single assignments and understand the theories on which the assignments are based. He recognised the area of expertise in his/her field.
1 the student recognises and understands the essential theories, principles and methods. He recognises the area of expertise in his/her field.

Assessment Methods

Written tests i and II, course work and active participation. Assessment on scale 0-5. The final grade affects of the average of the written tests I and II and the course work. All the three performances have the same weight. If the average is 4,5 or more, the final grade is 5 etc.


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