Aim of the course:

Financial Accounting is often called the language of business; it is the language that managers use to communicate the firm's financial and economic information to external parties such as shareholders and creditors. Nobody working in business can afford financial illiteracy. Whether you run your own business, work as a manager or are just starting your career, you want to understand financial information and be able to interact with accountants, controllers, and financial managers.
The purpose of this course is to refresh students´ knowledge of accounting terminology, process by which accounting transactions are analyzed and transformed into financial statements as well as the intelligent interpretation and use the financial statements in managing and analyzing business operations.

Target group:

Masters Student with need to enhance the understanding of Financial Accounting and Financial Statements.

Topics:

Understanding the philosophy and principles underlying financial statements is an excellent way to introduce what financial statements contain, why and how the rules have developed.
1) The process, purpose and context of accounting.
2) Key accounting principles and terms.
- Accruals concept;
- Going concern;
- The accounting equation;
- Double entry.
3) Applying double entry.
4) Background accounting knowledge to help understand the basis of financial statements.
- Purpose of financial statements;
- The primary financial statements and how they link;
- Balance sheet: Showing the position of a company;
- Income statement: Showing the performance of a company;
- Cash flow statement: Showing the difference between a company´s ability to generate and spend cash.

Study results:

Students will be able to prepare and interpret the financial statements in managing and analyzing business operations.

Graduation document:

Proof

Language:

English

Lecturer:

Timetable: