Consolidated Financial Statements (3cr)

Evaluation scale

1-5

Objective

The student is able to explain the purpose of consolidated financial statements and the use of the information they deliver. The student is able to define the instances, when the obligation to prepare consolidated financial statements exists and is able to define the boundaries of a group. The student is able to prepare consolidated financial statements, is able to recognize special cases pertaining to them and is able to find relevant, up-to-date information to problems concerning them.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.

Content

- Group as a concept
- consolidation
- consolidated financial statements
- IFRS/IAS -standards

Materials

? Tomperi: Kehittyvä kirjanpitotaito ja harjoituskirja.
Availability: http://tiny.cc/6vmxkx

? Mäkelä-Reponen-Pohjonen: Konsernitilinpäätöksen laadinta
Availability: http://tiny.cc/wxmxkx
- Accounting Act and Ordinance (1997)
- IFRS Standards
? other material as informed by the instructor

Teaching methods

- lectures and guided practice
- independent work

Employer connections

Work placement is not included in the course.

Student workload

- lectures and guided practice 36 h
- independent work 45 h

Assessment criteria, satisfactory (1)

Excellent (5)
The student is able to explain the purpose of consolidated financial statements and the use of the information they deliver. The student is able to define the instances, when the obligation to prepare consolidated financial statements exists and is able to define the boundaries of a group. The student is able to prepare consolidated financial statements, is able to recognize special cases pertaining to them and is able to find relevant, up-to-date information to problems concerning them.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes actively part in class room work and discussions.


Good (4-3)
The student is able to explain the purpose of consolidated financial statements and the use of the information they deliver. The student is able to define the most common instances, when the obligation to prepare consolidated financial statements exists and with the aid of the concept of a group is able to define the boundaries of a group. The student is able to prepare consolidated financial statements which contain the most common transactions of a group, is able to recognize special cases pertaining to the consolidated financial statements and is able to find relevant, up-to-date information to problems concerning them.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes actively part in class room work and discussions.
Satisfactory (2-1)
The student is able to explain the purpose of consolidated financial statements and the use of the information they deliver. The student is able to define the most basic instances, when the obligation to prepare consolidated financial statements exists and with the aid of the concept of a group is able to define the boundaries of a simple group. The student is able to prepare uncomplicated consolidated financial statements, is able to recognize most common cases pertaining to the consolidated financial statements and is able to find relevant, up-to-date information to problems concerning them.
The student is able to read articles in English and to find information from given sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes part in class room work and discussions.

Qualifications

- Preparing the Financial Statements
- Communities Law