ABL-C1111 - Introduction to Financial Accounting, Lecture, 4.9.2024-14.10.2024

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

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: 04.09.2024 - 14.10.2024

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: Finnish, English

CONTENT, ASSESSMENT AND WORKLOAD

Content

  • 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)

  • applies in this implementation

    In case you want to be assessed in Finnish, please let the instructor know during the first 2 weeks of the course. 

Workload

  • valid for whole curriculum period:

    Period I implementation - main, campus implementation:

    • Live teaching 12h (f2f - interactive; unless announced otherwise)
    • Pre-recorded lectures
    • Individiual home assignments

    Period III implementation - secondary

    • Pre-recorded lectures
    • Individiual home assignments

DETAILS

Study Material

  • valid for whole curriculum period:

    Harrison, Horngren, Thomas, Tietz & Suwardy (2023). Financial Accounting: International Financial Reporting Standards, 12th edition, Pearson. 

Substitutes for Courses
Prerequisites
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth

FURTHER INFORMATION

Further Information

  • valid for whole curriculum period:

    Teaching Language: English

    Teaching Period: 2024-2025 Autumn I
    2024-2025 Spring III
    2025-2026 Autumn I
    2025-2026 Spring III

    Registration:

    Registration for courses in Sisu

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

Aalto University Code of Academic Integrity and Handling Violations Thereof