Accounting and Accountability (5 cr)

Evaluation scale

0-5

Objective

The principal objectives of the Accounting and Accountability course are:
(1) to enhance your knowledge and understanding, and intellectual skills principally in the field of accounting data analysis,
(2) To analyze the quality of financial reporting and disclosures,
(3) To study corporate boards of directors dynamics and decision-making,
(4) To study different dimensions of corporate accountability with respect to society particularly in reference to sustainability.
The course contents have been carefully chosen from financial accounting, management accounting, corporate finance, corporate governance and financial management.

You are strongly encouraged to draw multiple interpretations and draw relevant inferences based on the discussion that we shall be having during the lecture sessions.

The course aims to develop the following COMPETENCES:
Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; motivates you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
– learn to formulate relevant questions and seek information,
-review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
-understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.

Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation among different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
-interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
-understand utility, creativity, viability, scalability, and sustainability of new solutions.

Internationality and multiculturalism-
You work in multicultural and international environments and networks in order to develop knowledge and communication skills as well as develop empathy and appreciation for other cultures. You communicate responsibly and effectively in English through written, verbal, non-verbal and digital formats individually as well as a team member in diverse settings.
To achieve this competence, you will:
-be familiar with the impact of your cultural background on your actions and be able to effectively and productively function in your work community that explicitly recognizes the relevance of multiculturalism,
-demonstrate meaningful intercultural teamwork, including the roles of leadership and conflict resolution, in order to develop creative solutions carrying multicultural underpinnings,
-be able to experience group learning and share best practices in international settings,
- learn to communicate ideas and solutions effectively in the context of various subjects, multiple purposes, and a wide range of audience both individually as well as in a group,
- initiate and engage constructive dialogues among relevant stakeholders to accomplish desired goals for multiple purposes and communicate ideas and solutions to a wide range of audience including both individuals and groups,
-learn to be ‘active listener’ to understand diverse perspectives, and points of view in accurate, unbiased, and critical manner,
-learn various aspects of digital media.

Ethics-
You benchmark and demonstrate ethical and responsible conduct according to the well-established principles, norms and best practices laid down by relevant national and international bodies and organisations.
To achieve this competence, you will:
-understand and apply the well-established principles of responsible conduct in research, and problem solving,

-adhere to the principles of equity, equality, and non-discrimination,

-take responsibility for your own actions and their consequences and reflect on them in accordance with the relevant ethical principles, norms, and practices,

- develop realization of diversity and accessibility in your actions.

Sustainable development-
You develop an understanding, vision, and appreciation for sustainability that affect personal, and professions lives, local communities, and global society at large. You study and explore linkages between multiple aspects of sustainability and business.

To achieve this competence, you will:

-understand the concept and principles of sustainable development in the context of business,

-recognize sustainability challenges and their consequences for businesses, local communities, and global society,

-use your accumulated knowledge and skills to create and implement sustainable solutions to solve business problems.

IB competence:
Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
-study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
-derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organisations.
-understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
-understand core aspects of people management in the international business environment.

Content

Theoretical aspects of accounting, financial statement analysis, financial performance measurement, regulatory framework, corporate governance and ethical issues of accounting, financial ratio analysis, corporate valuation, balanced scorecard as a tool for strategic budgeting, economic value added (EVA), dynamics of corporate boards of directors, corporate accountability, cost concepts, absorption costing, pricing, planning and budgeting, fundamental of financial management, capital investment appraisal, financial risk management.

Location and time

Spring of each academic year.

Materials

Lectures slides will be the starting point to learn the subject matter of the course.
Course Material
Books: Barry Elliott, Jamie Elliott: Financial Accounting and Reporting, Pearson Education.
Proctor, Ray: Managerial Accounting for Business Decisions. Prentice Hall.
Russell David, Patel Ashok & Wilkinson-Riddle Gregory: Cost Accounting An Essential Guide. Pearson Education Ltd.
Atkinson Anthony, Kaplan Robert, Matsumura Ella & Young Mark: Management Accounting. Prentice Hall.
Brealey, Richard A., Myers, Stewart C. and Allen, Franklin: Principles of Corporate Finance. McGraw-Hill.

Web Based Resources:
https://uk.finance.yahoo.com/
http://www.reuters.com/
http://online.wsj.com/europe

Corporate Websites
Research articles and videos will be shared from time to time.

Teaching methods

The primary modes of delivery are face-to-face learning (lectures, workshops, presentations), and occasional distance learning (e.g. online lectures and presentations) and hyflex learning mode.

Exam schedules

Last week of May. Retake possibilities available in the following Autumn and Spring.

International connections

International projects in collaboration with partner universities abroad. Possibility of participation in the corporate projects too.

Completion alternatives

Accreditation (replacement and inclusion)
Recognition of informal learning
Studification

Further instructions can be found in the Degree Regulations and in the Bachelor's Degree study guide.

Student workload

You will be required to required to invest 135 hours approximately and the break up of the total time is as below:
Lectures: 50 hours
Workshop: 20 Hours
Assignment Preparations: 30 Hours
Examination Preparations: 20 Hours
Miscellaneous: 15 Hours

Assessment criteria, satisfactory (1)

Assessment criteria

Items of Assessment:

1. Assignment 1 (50%): Group Assignment (4-5 students) including report (word), calculations (excel) and presentation

OR

Individual Assignment including report (word), and calculations (excel). No presentation required if you choose to do Assignment 1 individually.

Submission deadline: to be notified later via Assignment 1 Return Box

2. Written Exam (50%): Exam will be held

How learning will be assessed:
The general criteria of the competences of the Bachelor's Degrees awarded by Finnish Universities of Applied Sciences.
The learning outcomes of individual courses are assessed in relation to the objectives of the course concerned. Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, level 6.

You will get a grade of ‘one' or 'two' if you are able to demonstrate a basic level of evidence in the following competences:
Proactive development
Responsible international business management
Sustainable development
Responsible international business management
Ethics and
Internationality and multiculturalism

Assessment criteria, good (3)

Assessment criteria

Items of Assessment:

1. Assignment 1 (50%): Group Assignment (4-5 students) including report (word), calculations (excel) and presentation

OR

Individual Assignment including report (word), and calculations (excel). No presentation required if you choose to do Assignment 1 individually.

Submission deadline: to be notified later via Assignment 1 Return Box

2. Written Exam (50%): Exam will be held

How learning will be assessed:
The general criteria of the competences of the Bachelor's Degrees awarded by Finnish Universities of Applied Sciences.
The learning outcomes of individual courses are assessed in relation to the objectives of the course concerned. Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, level 6.

You will get a grade of ‘three' or 'four' if you are able to demonstrate a good level of evidence in the following competences:
Proactive development
Responsible international business management
Sustainable development
Responsible international business management
Ethics and
Internationality and multiculturalism

Assessment criteria, excellent (5)

Assessment criteria

Items of Assessment:

1. Assignment 1 (50%): Group Assignment (4-5 students) including report (word), calculations (excel) and presentation

OR

Individual Assignment including report (word), and calculations (excel). No presentation required if you choose to do Assignment 1 individually.

Submission deadline: to be notified later via Assignment 1 Return Box

2. Written Exam (50%): Exam will be held

How learning will be assessed:
The general criteria of the competences of the Bachelor's Degrees awarded by Finnish Universities of Applied Sciences.
The learning outcomes of individual courses are assessed in relation to the objectives of the course concerned. Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, level 6.

You will get a grade of ‘five’ if you are able to demonstrate an excellent level of evidence in the following competences:
Proactive development
Responsible international business management
Sustainable development
Responsible international business management

and good level of Ethics and Internationality and multiculturalism

Further information

Open UAS: 4 (included in the total capacity)