Intermediate Financial Accounting

Intermediate course of basic concepts, principles and methods financial accounting and their implementation in different fields of accounting. History of the development of International Financial Reporting Standards (IFRS). Preparation of financial statements (Statement of financial position, statement of cash flows, income statement, statement of owners’ equity). Accounting for current and non-current assets. Detailed overview of accounting for current and non-current liabilities and equity.

NB! This course will take place in spring semester 2024/2025 which starts on 3rd of February and ends on 16th of June (you can find that information under Start date section). The real course start and end dates will be announced at the beginning of February at the latest.

Student:

• knows financial accounting related terminology and notions (incl IFRS) and has a clear overview of the application of accounting methods, principles and concepts in companies of different sizes;
• is able to perform financial accounting in a company and conduct small-business accounting;
• understands financial reports and is able to interpret the data incorporated in financial statements;
• ability to implement the acquired knowledge for solving concrete tasks;
• has obtained the experience for participation in the everyday work of the base unit and has also acquired the team-work experience.

Final assessment can consist of one test/assignment or several smaller assignments completed during the whole course. After declaring a course the student can re-sit the exam/assessment once. Assessment can be graded or non-graded. For specific information about the assessment process please get in touch with the contact person of this course. For specific information about grade transfer please contact your home university

Prerequisite - Accounting for Beginners Course.

• Kieso, D. E., Weygandt, J. J., Warfield, T. D. (2011 or 2014). Intermediate Accounting. IFRS ed. Vol I, II. Hoboken (New Jersey): John Wiley & Sons

lectures, exercises