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ØKB3134 Intermediate Financial Accounting

Course description for academic year 2024/2025

Contents and structure

The course delves into the most central challenges related to recognition and measurement of key accounting items in accordance with good accounting practices. It provides a basis for reflecting on essential aspects of the theoretical foundation for financial accounting

Learning Outcome

Knowledge:

The student:

  • has in-depth knowledge of fundamental accounting principles and good accounting practices
  • has in-depth knowledge of recognition and measurement of key accounting items
  • has in-depth knowledge of accounting rules for small enterprises
  • is familiar with the most significant differences between accounting and tax regulations
  • has knowledge of the information needs of user groups and the need for accounting regulation
  • has knowledge of income statement and balance sheet orientation
  • is familiar with IFRS and simplified IFRS
  • knows the difference between business economic theory and financial accounting (current accounting regulation)

Skills:

  • can reflect on the information needs and the need for accounting regulation among the user groups
  • can apply selected NRS and IFRS accounting standards exemplified by regulations for fixed assets
  • can analyze cash flows

General competence:

The student:

  • can see the subject in a wider societal perspective
  • can acquire up-to-date knowledge within the above-mentioned areas of knowledge and skills
  • can convey central subject matter through relevant forms of expression and can exchange views and experiences with other professionals

Entry requirements

BØA117 Financial accounting and analysis, or a corresponding course.

Recommended previous knowledge

BØA204 Investments and financing or similar.

Teaching methods

Lectures, exercises, and guidance related to exercises.

Compulsory learning activities

None

Assessment

Individual digital Home exam, 7 days, 30%

Individual digital school exam, 4 hours, 70%.

A pass is needed in both parts

Grade scale A-F

Examination support material

Individual digital home exam and school exam: All study aids may be used.

More about examination support material

Course reductions

  • ØKB3117 - Vidaregåande finansrekneskap - Reduction: 5 studypoints
  • ØKB3118 - Rekneskapsteori - Reduction: 2.5 studypoints