Financial Accounting B, 7.5 Credits

Contents

An understanding of how to use, interpret, and analyze financial reports is important for those operating in an international business environment. The international financial reporting standards are introduced through a brief overview of financial accounting concepts and a description of the general accounting model. The interpretation of specific business transactions and approaches to the preparation of financial reports are also taught in this module. The approach enables students to see how accounting information is used, interpreted, and analyzed in real world decision making. The students will get an introduction and practical use of business systems in order to understand business processes.

Expected learning outcomes

After completing this module, the student should be able to:

• understand the basics of double-entry book-keeping and annual accounts
• possess the basic skills to independently analyze, interpret, and use information in financial reports
• describe the content and identify the links between the balance sheet, the income statement and statement of cash flows.
• understand the importance of ethics in the accounting profession
• at an introductory level understand how to use business systems and accounting systems
• communicate central concepts for the course in English, both orally and in writing

Required Knowledge

International Business Administration A 30 credits or similar.

Form of instruction

The learning is supported by lectures, exercises, workshops and a project. All teaching will be in English. An individual computer-based assignment is included where students are given the opportunity to practically use business systems in different business processes.

Examination modes

Examination will be based upon at least one group assignment and an individual written hall exam. A passing grade is required on each part of the course. The course is given and examined in English.

The following grading system is used:
Pass with distinction (Väl godkänd, VG, 75% or more),
Pass (Godkänd, G, 50% or more)
and Fail (Underkänd U, less than 50%).

Grades on the course are awarded when the student has passed all examinations and compulsory course elements. The course is given and examined in English.

To receive the grade Pass with distinction (VG) in the 30 credits course consisting of four modules of the same size, the student must have achieved Pass with distinction (VG) in at least three out of four modules. In shorter courses for example 7,5 credit courses, 15 credit courses or 22,5 credits courses Pass with distinction (VG) is given when the student has achieved at least 75% of the total weighted points.

A student who does not pass at the time of the written examination will be offered an opportunity to sit a further examination within two months. Beyond that, additional examination opportunities normally arise every academic year, one week prior to the start of the autumn term. If required by specific circumstances, the Director of Studies may decide on other forms of examination

In case of failure on seminar participation or individual and group assignments, compensating assignments must be completed in accordance with instructions given, no later than two weeks after the completion of the module. Mandatory assignments (seminars, written assignments, cases, computer assignments etc.) that have not been handed in within stipulated time must be done the next time the course is offered. If the form of examination does not permit repetition other forms of re-examination may be used.

Exceptions from examination form as stated in the syllabus can be made for a student who has a decision on pedagogical support for disabilities. Individual adaptations of the examination form should be considered based on the student's needs. The examination form shall be adapted within the framework of the expected learning outcomes stated in the course syllabus. At the request of the student, the course responsible teacher, in consultation with the examiner, must promptly decide on the adapted examination form. The decision must then be notified to the student.

When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the director of studies no later than two weeks before the next examination opportunity.

A student who has passed an examination can not redo the examination to get a higher grade.
If a student fails to present a photo ID at the occasion of a written exam in an exam room will not be allowed to take the exam.

Disciplinary action may be taken against students who uses unauthorized help aids or in some other way tries to mislead on a test or when another type of task is being evaluated. Rules and regulations concerning the production of academic texts and correct referencing will be applicable to all written assignments. (see instructions in the thesis manual, Thesis Writing in Business Administration). Urkund records may be used for control. In addition, Umeå University rules and regulations for education and research applies.

Educational activities are designed to facilitate students towards achieving expected learning outcomes and can explain, supplement and provide contrast to the course literature and other relevant course materials.

Other regulations

Academic credit transfers are according to the University credit transfer regulations.