ØKB3134 Intermediate Financial Accounting

Contents and structure

The course provides in-depth understanding of the most significant challenges related to recognition and measurement of key accounting items in accordance with good accounting principles and provides a foundation for reflecting on central aspects of the theoretical framework for financial accounting.

Learning Outcome

Knowledge:

The student:

• has in-depth knowledge of fundamental accounting principles and good accounting practices, with an emphasis on NRS-standards
• 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 discuss this with other professionals

Entry requirements

BØA117 Financial accounting and analysis (or equivalent competence)

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