Fin­an­cial Ac­count­ing

Course content

The course includes the following sessions which aim at laying the foundation for a solid understanding of financial accounting and reporting practices:

1. Purpose/function of accounting, different financial statements, basic assumptions in accounting

2. Double-entry bookkeeping technique

3. Accrual accounting

4. Ethics and internal control, cash and accounts receivables

5. Inventory

6. PPE and intangible assets

7. Current and long-term liabilities

8. Equity and equity investments

9. Cash flow statement

10. Financial statement analysis

Throughout the different sessions, students acquire general business knowledge by analyzing IFRS and US GAAP based financial statements of internationally operating companies with different backgrounds (service and product companies from different countries) with the aim of assessing the firm’s financial position and performance in light of the broader economic context.

The tasks of analysing financial data and assessing whether certain accounting regulations and practices meet the (intended) purpose of financial accounting aim at stimulating students’ curiosity about ambiguities in accounting and at helping students to develop a high degree of analytical and critical thinking.