Intermediate Financial Accounting

Principles of financial accounting. IFRS. Main users of financial statements. Preparation of financial statements. Recording of business transactions. Merchandising perations. Assets and depreciation. Liabilities. Receivables and payables. Revenue recognition. Accounting for Leases. Accounting and the time value of money. Professional accounting ethics, ESG reporting basics and sustainability in accounting.

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.

After completing this course, the student:

• demonstrates a comprehensive understanding of International Financial Reporting Standards (IFRS) and their application in the preparation and presentation of financial statements;
• prepares financial statements in accordance with IFRS, incorporating relevant standards and guidelines to ensure accurate financial reporting;
• identifies and assesses ethical dilemmas commonly faced in the accounting profession and apply ethical reasoning to develop effective solutions in various scenarios;
• explain the principles and standards of non-financial reporting, including sustainability and corporate social responsibility metrics and evaluate their significance for stakeholders;
• applies knowledge of both financial and non-financial reporting standards to real-world scenarios, being well prepared for effective participation in the reporting processes within organizations.

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