ØBR114 Advanced Financial Accounting

Contents and structure

The course builds on BØA117 "Financial accounting with analysis" or equivalent course.

The main purpose of the course will be to build a good understanding of accounting, both theoretically and through a practical angle. Numerical examples and problem solutions are central to the course. The main emphasis is on Norwegian accounting rules/generally accepted Norwegian accounting principles (GRS), including basic accounting principles and their application in the measurement/assessment of key items such as inventories, fixed assets, revenues, intangible assets, equity investments, uncertain liabilities, etc. Students will be trained in solving accounting problems using the basic accounting principles, and will through this develop good skills to also be able to evaluate new issues. The course will also address special/advanced topics such as cash flow statement, accounting tax expense, consolidated financial statements, financial instruments, and merger/demerger. Here, too, practical examples have a central place.

Furthermore, the course will provide knowledge about the main features of international accounting regulations / the conceptual framework, and examples of differences between Norwegian accounting rules and international accounting rules (IFRS) will be reviewed.

Learning Outcome

Knowledge:

- Knowledge of key differences between GRS and IFRS, as well as overall knowledge of simplified accounting rules for small enterprises, the regulations for notes / annual reports, accounting rules for non-profit organizations and sustainability reporting

Skills:

- Good skills in basic accounting principles and be able to apply these to accounting issues within measurement / assessment of various profit and loss and balance sheet items

General competence:

- Good understanding of how the income statement and the balance sheet are connected, as well as skills to account for income tax and make allocation of the annual profit and loss

- Good understanding of the main features related to consolidated financial statements and accounting aspects of merger / demerger and be able to apply this in practice

Entry requirements

BØA117 "Financial accounting with analysis" or equivalent course

Teaching methods

Lectures, assignments and compulsory assignments

Compulsory learning activities

2 mandatory written submissions must be approved before the exam can be taken. An unapproved coursework requirement entitles you to a second attempt.

Approved coursework requirements are valid in the exam semester and 3 consecutive semesters.

Assessment

Written school exam, 6 hours. The exam can be held on a digital exam system.

The time and place of the exam will be stated on Studentweb.

Grading scale A-F, where F equals fail.

Examination support material

The auditor's Handbook and the Accounting Act in special print.

All calculator models are allowed, with the following exceptions

- the calculator should not have the possibility of receiving / sending

- the calculator should not be able to process symbolic mathematical expressions

- the calculator cannot be connected to the mains

- the calculator must not make noise

More about examination support material

Course reductions

• ØBR104 - Rekneskap fordjuping - Reduction: 10 studypoints
• ØKB3117 - Vidaregåande finansrekneskap - Reduction: 5 studypoints
• ØKB3118 - Rekneskapsteori - Reduction: 5 studypoints