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Course syllabus - Financial Accounting I

Scope

7.5 credits

Course code

EFO021

Valid from

Autumn semester 2015

Education level

First cycle

Progressive Specialisation

G1N (First cycle, has only upper-secondary level entry requirements)

Main area(s)

Business Administration

Organisation

School of Business, Society and Engineering

Ratified

2013-02-01

Revised

2015-02-02

Literature lists

Course literature is preliminary up to 8 weeks before course start. Course literature can be valid over several semesters.

    • Ratified date: 2016-03-07
    • Latest update: 2025-05-27

    Books

    Wood, Frank; Sangster, Alan.

    Frank Wood's Business accounting 1

    Same book incl e-lab: 9780273759287, often same price. (12th ed = goldfish on cover)

    ISBN: 978-0-273-75918-8 (pbk.)

    LIBRIS-ID: 12321971

    12th ed., Harlow, Essex, Prentice Hall, Pearson, 781 p.

Objectives

The course aims at giving the student basic knowledge of concepts and computation of different kinds of transactions (i.e. book-keeping transactions) used in Financial Accounting so he/she can identify, measure and communicate information used in both external and internal statements/reports.

Learning outcomes

The student shall be able to describe and understand the components of the balance sheet, income and cash flow statements. He/she shall also be able to explain and show, by computation, how these statements are related and how they combined show different important perspectives of the financial position of a company.
The student shall also be able to recognize, account for and compute different kinds of transactions that affect assets, liabilities and equity accounts of the business. This includes knowledge of and ability to compute financial ratios.

Course content

The course includes

  • Accounting as the language of business
  • The double entry accounting system - rules and use
  • How to work with and use financial statements in practice and relate these to different international general accounting principles (used in the income statement, the balance sheet and the statement of cash flow).

Specific requirements

English B.

Examination

Assignment (INL1), accounting, 1 credit, mark Passed (G)
Assignment (INL2), exercise with IT support, 2 credits, mark Passed (G)
Written examination (TEN2), accounting, 4,5 credits, marks Passed (G) or Passed with Distinction (VG)

A student who has a certificate from MDU regarding disability study support, can request adaptions for the examination. It is the examiner who takes decisions on any adaptions, based on the certificate and other conditions.

Grade

Three-grade scale

Interim Regulations and Other Regulations

The course overlaps 7,5 credits with EFO009 Introduction to Financial and Management Accounting and 7,5 credits with FOA133 Accounting and budgeting 1.