Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.
LEARNING OUTCOMES
ILO1 understand basic theories, concepts and practices of accounting
ILO2 understand the role of accounting in the management of business institutions (Relation SDG 8 – Financial accounting creates an information base that allows for transparency, leading to sustained, inclusive economic growth)
ILO3 understand the essential distinction between financial and managerial accounting
ILO4 understand the concepts and role of revenue, expense, asset, liability and equity accounts in financial accounting
ILO5 understand and develop income statements, balance sheets and cash flow statements
ILO6 conduct work in a multinational and multidisciplinary group environment and deliver concise presentation of project work outcomes in front of small groups
Credits: 6
Schedule: 20.04.2021 - 27.05.2021
Teacher in charge (valid 01.08.2020-31.07.2022): David Derichs
Teacher in charge (applies in this implementation): David Derichs
Contact information for the course (valid 17.03.2021-21.12.2112):
David Derichs: david.derichs@aalto.fi
CEFR level (applies in this implementation):
Language of instruction and studies (valid 01.08.2020-31.07.2022):
Teaching language: English
Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
Valid 01.08.2020-31.07.2022:
The course focuses the essential knowledge, skills and attitude components in its course content to achieve the learning goals and might deliver the optional content based upon course progress and individual achievement.
Knowledge (essential)
• Financial Statements and Business Decisions
• Investing and Financing Decisions and the Accounting Cycle
• Operating Decisions and the Accounting System
• Adjustments, Financial Statements, and the Quality of Earnings
• Communicating and Interpreting Accounting Information: Sales Revenue, Receivables and Cash; Cost of Goods Sold and Inventory; Property, Plant, and Equipment; Intangibles; and Natural Resources; Liabilities; Bonds; Owners’ Equity
• Cash Flows Statement
Skills (essential)
• Compile income statement, statement of shareholders’ equity, cash flows statement and balance sheet
• Conduct basic financial analysis on financial statements and draw meaningful conclusions
Attitudes (essential)
• Understand the accounting profession’s ethical code of conduct
Knowledge (optional)
• Work-life skills and work-life connections of financial accounting topics
• Know online sources for financial information and how to navigate through those
• Financial accounting issues triggered in specific industrial contexts
Skills (optional)
• Take into account basic industry differences when conducting financial analysis
• Take into account detailed industry differences when conducting financial analysis
Attitudes (optional)
• Be resilient to setbacks in financial accounting caused by a lack of data
Assessment Methods and Criteria
Valid 01.08.2020-31.07.2022:
Participation (10%)
Take-Home Assignments (15%)
Mid-Term Exam (35%)
Final Exam (40%)
Applies in this implementation:
Due to the online nature of this course participation grades are replaced with quizzes.
Workload
Valid 01.08.2020-31.07.2022:
Contact teaching 42 h
Take home assignments 30 h
Reading respective course literature 30 h
Exam preparation 30 h
Self-Study 28 h
Total 160 h
DETAILS
Study Material
Valid 01.08.2020-31.07.2022:
Financial Accounting, Libby, Libby, Hodge, Global Edition, 8th/9th ed., McGraw-Hill
Additional material will be provided in MyCourses.
Prerequisites
Valid 01.08.2020-31.07.2022:
None – Open for all!
- Teacher: Derichs David
- Teacher: Mäkinen Henry
- Teacher: Sjöblom Natasha Teresia