Study Guide

Objective

After completing the course, the student will master the concepts, statutory duties, and methods of external accounting. The student also knows the key regulations on which accounting is based, as well as the most important sources of interpretation. The student learns to know and interpret the content of the reports produced by accounting and understands the meaning of the reports for different stakeholders. After completing the course, the student has developed a general understanding of accounting and managing it in a company using a financial management program. The student also knows the basic principles and legislation of value-added taxation and how value-added taxation should be considered in connection with accounting. The student understands the importance of responsibility reporting regulations according to accounting legislation for various companies. After completing the course, the student is ready to choose studies from other areas of financial administration.

Content

- accounting legislation and interpretation of regulations
- the basics of value-added taxation and key regulations
- basic entries of the company's accounting, considering value-added tax
- preparation, reporting, and interpretation of financial statements
- use of the accounting program
- responsibility reporting by the Accounting Act

Materials

Lecture material provided by lecturer

Teaching methods

Online lectures

Student workload

Lectures and exercises 12 h
Independent work 150 h

Evaluation scale

1-5

Assessment criteria, satisfactory (1)

The student knows how to make basic entries in the company's accounting, considering value-added tax. The student knows how to search for information on legislation for accounting and value-added taxation. The student knows how to use the accounting program in accounting work. The student can interpret a simple company's financial statements by evaluating profitability and solvency. The student understands the importance of responsibility reporting according to the Accounting Act.

Assessment criteria, good (3)

The student knows how to make versatile company accounting entries, considering value-added tax. The student knows how to prepare a company's financial statements, knows the reporting obligations related to financial statements, and can tell different stakeholders about the importance of financial statements. The student knows how to search for information on legislation for accounting and value-added taxation, and knows how to apply this information in the preparation of accounting. The student can interpret a simple company's financial statements by evaluating profitability, liquidity, and solvency, and concluding the company's performance and financial status based on their evaluations. The student knows how to use the accounting program in accounting work, considering the accounting board's method guidelines. The student knows how to apply the provisions of responsibility reporting according to the Accounting Act for an individual company.

Assessment criteria, excellent (5)

The student knows how to make versatile company accounting entries, considering value-added tax. The student knows how to prepare a company's financial statements, knows the reporting obligations related to financial statements, and can tell different stakeholders about the importance of financial statements. The student knows how to search for information on legislation for accounting and value-added taxation, and knows how to apply this information in the preparation of accounting. The student can interpret the financial statements of a large-scale company by evaluating profitability, liquidity, and solvency, and by concluding the company's performance and financial status based on their evaluations. The student knows how to use the accounting program, considering the accounting board's method guidelines when preparing the accounts. The student knows how to apply the provisions of responsibility reporting according to the Accounting Act and evaluate the significance of these provisions for an individual company.