ØKB1111 Financial Accounting and analysis

Contents and structure

The course deals with the regulation of financial statements, a presentation of the income and balance statement, assessment of central accounting records, accounting of tax and profits, cash flow statements, and financial statement analysis.

Learning Outcome

The student:

• Knows the basic elements of the Norwegian framework for financial statements
• Knows fundamental accounting principles and valuation rules
• Knows the financial records in financial statements
• Knows the relationship between cash flow (cash flow statement) for a company, its creation of value (income statement), and the acquisition and use of capital (balance statement)

The student :

• Is able to set up financial statements in accordance with the presentation models in the Accounting Act
• Is able touse knowledge about central accounting principles and valuation rules for finishing financial statements  
• Is able toconduct annual entries and allocation of profit
• Is able toprepare cash flow statements on the basis of income and balance sheet information
• Is able tocalculate and evaluate key indicators on the basis of a submitted annual financial statement

• The subject gives students a basis for further specialization in the area.

Entry requirements

None

Recommended previous knowledge

Managerial Economics with Financial Accounting

Teaching methods

Lectures and exercises.

Compulsory learning activities

Yes, assignment(s) (to be specified in the semester plan available in the beginning of the semester)

Assessment

Written exam, 4 hour, 100%

Grade scale A-F

Examination support material

The calculator of Stord/Haugesund University College (Texas TI 84) will be handed out as well as the Accounting Act Chapter 4-6.

More about examination support material