On completion of the course the students will be able to:

1. Explain and discuss fundamental accounting concepts in financial transactions and the accounting cycle.

2. Perform double entry bookkeeping and prepare basic financial statements
3. Analyse and interpret the financial reports of a company.
4. Apply the accounting concepts in accounting practice
5. Use Excel to calculate basic accounting measures

6. Identify and interpret basic financial accounting problems.

This is an introductory course designed to give students an overall picture of the accounting cycle.
Important topics covered during the course include:

• Basic financial accounting concepts according to the International Accounting Standards Board (IASB)
• Recording of selected business transactions
• Preparation of annual accounts and annual financial statements
• Introduction to financial ratios and their use in analyzing financial statements

Connection to Research and Practice

This is a theoretically and practically oriented course in basic financial accounting. Students are introduced to accounting research that is both empirical and conceptual in nature, by having journal and other academic articles as complementary reading. The topics covered in these articles are aligned with the fundamental concepts of accounting. The articles enhance students’ knowledge by offering real business organizational settings and issues and may include criticisms against various topics in financial accounting.

Lectures, seminars and a compulsory group assignment.

The teaching is conducted in English.

General entry requirements and Civics 1b or 1a1+1a2, Mathematics 3b or 3c. Or: Civics A, English B, Mathematics C (or the equivalent).

The course is graded A, B, C, D, E, FX or F.

Individual written exam (ILO:s 1-6) representing 4.5 credits.
Group assignment, written and oral, (ILO:s 3, 4) representing 3 credits.
Individual Excel quiz (ILO 5), Pass/Fail, representing 0 credits.

Name of the Test	Value	Grading
Individual written exam1	4.5 credits	A/B/C/D/E/FX/F
Group assignment, written and oral1	3 credits	A/B/C/D/E/FX/F
Individual Excel quiz1	0 credits	U/G

¹ All parts of the compulsory examination in the course must be passed with a passing grade (A-E or Pass) before a final grade can be set. The final grade of the course is determined by the sum total of points for all parts of the examination in the course (0-100 points). Grade is set in accordance to JIBS grading policy.

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.
At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.
At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.
Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarising. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarising called the Interactive Anti-Plagiarism Guide.
Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Thomas, A., Ward, A.M. and Farrell, M. (2024). Introduction to Financial Accounting, Tenth Edition, McGraw-Hill.