BØ6-2009 Advanced Financial Accounting

Contents and structure

The subject provides a thorough introduction to the most central challenges with recognition and measurement of annual accounts in accordance with good accounting practice and provides a basis for reflecting on central parts of the theoretical foundation for financial accounting. Completing an annual account and setting up a group account is central to the topic.

Learning Outcome

• has in-depth knowledge of the basic accounting principles and good accounting practice
• has in-depth knowledge of recognition and measurement of the most important accounting items
• knows the most central differences between accounting rules and tax rules
• can close an annual account, including tax items and allocation of profits, for AS.
• Can explain the need for group accounts and the principles for eliminating intra-group items and can prepare a single group account (including tax and minorities)
• has knowledge of and can reflect on the user groups' information needs and needs for accounting regulation
• has knowledge of results and balance sheet orientation
• knows IFRS and simplified IFRS and can apply selected IFRS accounting standards exemplified by regulation for operating assets
• Knows the rules on capacity reporting
• knows the difference between business economics theory and financial accounting (current accounting regulation) and can analyze cash flows

Skills :

The student

• must be able to close an annual account including tax calculation
• must be able to prepare cash flow accounting
• must be able to reflect on the theoretical foundation for financial accounting .
• must have knowledge of central concepts, principles and rules for good accounting practice (GRS)
• must know international accounting rules (IFRS)

General competence:

The student

• Can acquire up -to-date knowledge in the area
• Can convey central subject matter
• Can exchange points of view and share ideas with other professionals

Entry requirements

BØ6-2003 Annual accounts in practice or similar

Compulsory learning activities

Two written assignments.

Assessment

Written exam, 5 hour. The exam may be carried through in a digital exam system.

Grading scale A-F (where F is failed)

Examination support material

Simple calculator. Norway's Laws and tax laws.

Lovdata pro in exam mode (with the incorporations that Lovdata has allowed, and with access to all laws, preparatory work, regulations, case law from the Supreme Court and the Courts of Appeal, and all of EEA and EU sources of law, unless the course coordinator has determined otherwise).

More about examination support material

More about examination support material