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
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
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.