Practical Bookkeeping (3cr)

Evaluation scale

Passed/failed

Objective

The student masters external accounting and, in particular, the practical implementation of bookkeeping. The student’s ability to read and interpret financial material and financial information develops. The student gains an overall understanding of an organisation’s external accounting, bookkeeping, and financial administration.
The student is able to apply the legislation and regulations governing bookkeeping. The student is able to handle source documents, perform the reconciliations required by good accounting practice, use accounting software, and interpret accounting reports. The student is proficient in communicating with clients and understands the importance of communication and customer service in accounting work. The student is able to prepare and present a report of their work to the client in the format requested by the client.

The student is able to use the technology required in bookkeeping and financial statement processes effectively, solve problems related to these processes, analyse information, and make suggestions to improve organisational performance. The student understands the importance of the availability, usability, integrity, and security of information. The student understands the significance of accurate, high-quality information for business decision-making and for a company’s reputation. The student is able to present information in a visual format.

Content

Community Financial Management, Documentation and Accounting for True Accounting, Financial Statements, Reporting to a Customer. Management of the use of accounting systems. Knowledge management and information security, use of knowledge in decision making. Internal control and controls. Analysis of financial statements using eg ratios and trends. Creating presentation material, using graphics.

Materials

Accounting Act, Limited Liability Companies Act, Associations Act, Housing Limited Liability Companies Act, Business Tax Act, Income and Wealth Tax Act, General Instructions of the Accounting Board

Teaching methods

Lecturers and practices, independent work.

Student workload

Lectures 44 h, independent work 37 h.

Assessment criteria, approved/failed

Pass: The student masters the practical implementation of financial accounting and bookkeeping in particular. The student develops his/her reading skills of financial material and economic information. The student has an overview of the external accounting, bookkeeping and financial management of the target organization. The student is able to apply the laws and regulations governing accounting. The student knows how to handle accounting material, pursue good practices of accounting, use accounting software, and interpret accounting reports.

The student carries out the course tasks actively, independently and in time.

The student participates in classwork and participates in class discussions. The student contributes to group work and is an encouraging member of the group.

Qualifications

Sales Process and Purchase Process