Financial Statement Standards and Corporation Reporting (5 cr)

Evaluation scale

0-5

Objective

The Accounting Standards and Group Reporting course is designed to guide the student through Finnish accounting (FAS) regulation and International Financial Accounting Standards (IFRS). After completing the course, the student is able to identify and analyse the differences between FAS and IFRS accounting, prepare parts of annual financial statements, and she/he knows the valuation and deprecation methods used in FAS and IFRS accounting. The student is able to interpret and analyse the information given by annual consolidated financial statements.

Content

Purpose and.theoretical base for group reporting;
differences between FAS and IFRS accounting
key IFRS standards; the financial reports prepared based on FAS and IFRS; the structures and presentation of financial reports; valuation and deprecation methods; the significance of financial statements to the stakeholders.

Materials

Haaramo V., Palmuaro S. & Peill E., IFRS-raportointi, e-book available at JAMK library, Finnish accounting legislation, An annual consolidated financial statement of a listed group, other material to be given during the course

Completion alternatives

1. Presentation of a standard, 20 % 2. Case Annual consolidated financial statement, 40 %. 3.Essay IFRS -consolidated statement and stakeholders 20 %4. Selected exercises 20 % 5. Learning diary, pass/fail 0%

Student workload

Online lectures 27 hours Independent study 54 hours Assignments 27 hours

Assessment criteria, satisfactory (1)

5 (Excellent): The student recognizes the ethical issues involved in business and ethics, knows how to review them from different stakeholder perspectives and applying ethical theories. She/he knows what impact the accounting and administration actors have on the company's ethical culture, as well as stakeholders and corporate reputation. The student is able to critically examine the organizational culture and evaluate the organization's ethics.

4 (Good): he student recognizes the ethical issues involved in business and ethics, knows how to review them from different stakeholder perspectives and applying ethical theories. She/he knows what impact the accounting and administration actors have on the company's ethical culture, as well as stakeholders and corporate reputation.

3 (Very Good): The student recognizes the ethical issues involved in business and accounting, and knows ethical theories. She/he knows what impact the accounting and administration actors have on the company's ethical culture, as well as stakeholders and corporate reputation.

2 (Satisfactory): The student knows ethical theories and ethical issues involved business and accounting. She/he is able to describe some ways to solve the problems of ethics in the organization.

1 (Sufficient) The student knows ethical theories and ethical issues involved business and accounting.

0 (Fail): The student is unable to know any accounting theories or ethical issues involved the organization.

Assessment criteria, good (3)

Good 3
You will know what FAS legislation and IFRS standards are. You know their theoretical frameworks and the key differences between them. You will know the contents of FAS ja IFRS consolidated financial statements, and you can make calculations applying IFRS standards.You can apply IFRS standards in preparing annual accounts, and analyze the differences between FAS- and IFRS financial statements.

4 very good
You will know what FAS legislation and IFRS standards are. You know their theoretical frameworks and the key differences between them. You will know the contents of FAS ja IFRS consolidated financial statements.You can apply IFRS standards in preparing annual accounts, and analyze the differences between FAS- and IFRS financial statements. You will find information concerning IFRS group reporting, make valuation and advanced calculations applying IFRS standards as well as analyze the annual financial information of several listed groups.

Assessment criteria, excellent (5)

Excellent 5
You will know what FAS legislation and IFRS standards are. You know their theoretical frameworks and the key differences between them. You will know the contents of FAS ja IFRS consolidated financial statements.You can apply IFRS standards in preparing annual accounts, and analyze the differences between FAS- and IFRS financial statements. You will find information concerning IFRS reporting, make advanced calculations applying IFRS standards, as well as analyze the annual financial information of several listed groups.You will solve accounting issues applying IFRS standards together with the accounting group of the company. You can evaluate the importance of financial information to the stakeholders.

Qualifications

Bachelor's degree