Basics of accounting
| Structure Type: | Study unit |
|---|---|
| Code: | TL00BQ79 |
| Curriculum: | LT 2025V |
| Level: | Bachelor of Business Administration |
| Year of Study: | 1 (2025-2026) |
| Semester: | Autumn |
| Credits: | 5 cr |
| Responsible Teacher: | Lehtimäki, Harri |
| Language of Instruction: | Finnish |
Learning Outcomes
After completing the course, the student will be able to justify the tasks of accounting in business and professional activities and understand basic accounting concepts, such as the principle of double-entry bookkeeping and the significance of the income statement and balance sheet. The student will be able to make accounting entries and prepare financial statements. Additionally, the student will be able to apply the current VAT law and accounting legislation in bookkeeping. The student will also be able to evaluate and utilize the information produced by accounting to support business decision-making
Student's Workload
1 ECTS credit equals 27 hours of work, so 5 ECTS credits equal 135 hours, distributed in the course as follows:
• Contact lessons and assignments approx. 40 hours
• Independent study approx. 32 hours
• Assignment(s) approx. 44 hours
• Exam preparation approx. 15 hours
• Exam approx. 4 hours
Prerequisites / Recommended Optional Courses
No prerequisites
Contents
• Basic concepts of business accounting and accounting rules
• Allocation of acquisition cost
• VAT applicable in Finland
• Credit invoices, discounts, and freights
• Advance payments and accruals
• Financial statements, preparation of the income statement and balance sheet
• Understanding the financial position of a company using financial statement reports
Regional Impact
Applying basic accounting skills for the use of regional businesses. Accounting and financial statements are statutory procedures that local entrepreneurs must master.
Internationality
Understanding the basics of accounting for those working in international roles. The financial statement is an important report for planning 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.
• Teaching material
Mode of Delivery / Planned Learning Activities and Teaching Methods
Lectures, exercises, independent study.
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
Numeric grading on a scale of 0-5
The grade is composed as follows:
For on-site teaching at VAMK:
• Participation in contact teaching: 20%
• Exam: 80%
For remote teaching:
• Completion of exercises: 20%
• Exam: 80%