BØ6-2010 Accounting in practice

Contents and structure

The subject provides a practical and theoretical immersion of the accounting process from bookkeeping to completed annual accounts and builds on prior knowledge of accounting theory from BØ6-2009 Advanced financial accounting.

Subject content:

• The bookkeeping regulations and practice are linked to various issues, including VAT.
• Carry out ongoing record keeping in an accounting program.
• Prepare an annual account with profit and loss account, balance sheet and notary for a small enterprise based on good accounting practice.
• Use one annual statement program to set up the annual accounts

Learning Outcome

Abilities :

The student

• have in-depth knowledge of them the basic bookkeeping principle and central parts of good bookkeeping practice
• can post and quality-assure transactions and other events in the accounts, including analysis of the accounting consequences of different VAT processing
• can prepare and quality-assure external accounting reporting using reconciliation and other analysis techniques
• can practice rules on measurement and recognition in accordance with good accounting practice
• knows the difference between business economics theory and financial accounting (current accounting regulation) and can analyze cash flows.
• has in-depth knowledge of accounting rules for small businesses, including notes

Skills :

The student

• Can post transactions in an accounting program
• Can close annual accounts for limited companies, including tax and annual accounts allocations tabularly and in one annual report program

General competence:

The student

• Can acquire up-to-date and practical knowledge within accounting
• Can reflect on the annual accounts ' value as a basis for decisions.

Entry requirements

BØA117 Financial Statement or similar

Recommended previous knowledge

BØ6-2009 Advanced Financial Statement or similar

Teaching methods

The teaching will vary between lectures and assignment seminars

Compulsory learning activities

Attend three mandatory seminars that cover:

- Accounting program training

- Year-end program training

Assessment

Individual home exam 7 days.

Grading scale A-F, where F corresponds to fail.

Examination support material

All scriptural aids.

More about aids here:

Hjelpemiddel ved eksamen - Høgskulen på Vestlandet (hvl.no)

More about examination support material