ABL-C0001 - Principles of Financial Accounting, Lecture, 1.3.2022-7.4.2022

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: 01.03.2022 - 07.04.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): David Derichs

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content

  • valid for whole curriculum period:

    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 for whole curriculum period:

    Participation (10%)

    Take-Home Assignments (15%)

    Mid-Term Exam (35%)

    Final Exam (40%)

Workload

  • valid for whole curriculum period:

    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 for whole curriculum period:

    Financial Accounting, Libby, Libby, Hodge, Global Edition, 8th/9th ed., McGraw-Hill

    Additional material will be provided in MyCourses.

Substitutes for Courses
Prerequisites

FURTHER INFORMATION

Further Information

  • valid for whole curriculum period:

    Please note that this course is mainly targeted for students in Bachelor s programme in Economics, Aalto exchange students and other Aalto schools students (other than BIZ students) who do not have previous knowledge in accounting. If you have completed course 22A00110 Introduction to Accounting in your previous studies, this course cannot be included in the degree.

    Teaching Period:

    2020-2021: Spring V

    2021-2022: Spring IV

    Course Homepage: https://mycourses.aalto.fi/course/search.php?search=ABL-C0001

    Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu (sisu.aalto.fi) instead of WebOodi.

    Via WebOodi. Please see WebOodi for the registration dates.

Rules of Conduct - Students´ Rights and Responsibilities (in force from 1 August 2020)

Aalto University Code of Academic Integrity and Handling Violations Thereof