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. 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 reports
• Introduction to financial ratios and their use in analysing financial statements

Lectures, seminars and a compulsory group assignment involving analysis of annual reports.

The teaching is conducted in English.

General entry requirements and Civics A, English B, Mathematics C Or: Civics 1b / 1a1 +1a2, Mathematics 3b / 3c (Field-specific entry requirements 4) and required grade Passed/E or the equivalent.

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

Assessment:
ILO 1-3 and 5 are examined in a written exam (60%, 4,5 credits).
ILO 3 and 4 are examined through group assignment. The group assignment will be presented orally as well as in writing (40%, 3 credits).

A pass (60%) must be achieved on both the exam and assignment in order to pass the course. The final grade is based on the combined result of all tests. The course is examined both individually and in group.

Name of the Test	Value	Grading
Examination1	7.5 credits	A/B/C/D/E/FX/F

¹ Determines the final grade of the course, which is issued only when all course units have been passed.

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, evaluators must be identified (elected) among the students. The course evaluation is carried out continuously as well as at the end of the course. On the completion of the course the course evaluators and course examiner discuss the course evaluation and possible improvements. A summary report is created and archived. The reports are followed up by program directors and discussed in program groups and with relevant others (depending on issue e.g. Associate Dean of Education, Associate Dean of faculty, Director of PhD Candidates, Dean and Director of Studies). The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluation.

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 plagiarizing. 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 plagiarizing 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.

Course compendium to be bought from Pearson, based on extracts of the newest edition of Black, Geoff: Introduction to Accounting and Finance; Pearson Education Ltd.; Prentice Hall. More information will be provided in the first lecture.