Basics of Accounting (5cr)

Objective

The student will understand the terminology, legal duties, and methodology. The environment of financial accounting will be presented, and the student will be able to interpret and understand accounting information and financial statements. The course will provide a general understanding of financial accounting in business and the student will have the ability to choose courses from other areas of accounting.

Content

Basic terminology of financial accounting, entity of accounting period and financial reporting. Essential part of the course is practising. The focus will be on statutory reporting. Essential parts of the Bookkeeping Act and bookkeeping Decree will be familiarized.

Qualifications

none

Assessment criteria, satisfactory (1)

The student knows how to record VAT-free business transactions and knows the key accounting terms and the meaning of the Accounting Act.

Assessment criteria, good (3)

The student knows how to record business transactions with value-added tax and knows the importance of accounting in the company's operations can explain the meaning of the most important accounting terms and knows the requirements of the Accounting Act.

Assessment criteria, excellent (5)

The student knows how to record business transactions subject to value-added tax and knows the importance of accounting in the company's operations. The student knows the use and operation of financial statements and knows what is needed in accounting work and can explain their meaning. The student can interpret the content of reports produced by accounting.

Materials

Tomperi, S., (2023). Käytännön kirjanpito. Edita.