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.


After having completed the course students should be able to

  • Fully comprehend the accounting equation and double entry-accounting
  • Understand and be able to explain the difference between cash and accrual accounting
  • Prepare financial statements from the source data based on accounting transactions
  • Read, understand, and examine the data in an annual report, hereunder the key components in the financial statements
  • Develop financial ratios for a company and analyze the information content of these measures to make sound business decisions
  • Identify and explain selected components of sustainability information provided by companies

Credits: 6

Schedule: 05.09.2022 - 17.10.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Nina Sormunen

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


  • valid for whole curriculum period:

    • Conceptual Framework and financial statements
    • Recording business transactions
    • Accrual accounting
    • Presentation of financial statements
    • Cash and receivables
    • Inventory and merchandising operations
    • Fixed assets 
    • Investments
    • Liabilities
    • Stockholders’ equity
    • Cash flows
    • Financial statement analysis

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Exam: 70% of the course grade
    Other activities: 30% of the course grade

    To pass the course the student has to get: (a) at least 35 points (50% * 70 p) of the exam and (b) at least 50 points of the exam & other activities (50% * 100 p)

  • valid for whole curriculum period:

    Period I implementation: contact teaching

    • Lectures 
    • Exercises

    Period III implementation: online only!

    • Lectures 
    • Exercises


Substitutes for Courses
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    Points from the exercises are valid only in the course exam and the re-exam after that. If the students take the course again, they need to gain the exercise points again.

    Teaching Language : English

    Teaching Period : 2022-2023 Autumn I
    2022-2023 Spring III
    2023-2024 Autumn I
    2023-2024 Spring III

    Enrollment :

    Registration for courses: in Sisu