Accounting and Accountability (5cr)

Evaluation methods and criteria

Assessment Criteria
The course is of 5 ECTS
1. Assignment (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 individually.

2. Written Exam (50%): Online written exam.

3. Sustainable Finance Project (2 ECTS)
You may be do the following additional project, however, it is optional.

Evaluation scale

0-5

Content scheduling

You will get this information via Moodle.

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 Intended Learning Outcomes (ILOs):
1. Applied Business Skills (IBBUS)
Analyzing the financial statements of corporates to ascertain their financial health by applying various techniques and methods learned in the field of Accounting and Economics in different business situations to solve challenging business problems optimize planning and risk management strategies.

2 Skills in Critical and Analytical Understanding (IBCRI)
Reviewing academic literature critically, analyzing and evaluating financial and other business data, deliberating diverse approaches, comparing the resultant outcomes, and making value additive informed business decisions and action plans. Understanding of the true, objective and unbiased financial information that helps managers to plan, revise and revisit their business strategies, financial targets, policy formulation, and planning process. The process of understanding how financial accounting information assists to make the corporate decision-making process is a core element of this course.

3 Communication Skills (IBCOM)
Communicating the inferences made and interpretations drawn based on the financial data analysis responsibly, effectively and professionally in English, including in written reports, presentations, formal correspondence, and on social media.

4 Intercultural Collaboration Skills (IBCOL)
Participating enthusiastically in inter- and multicultural settings, demonstrating team building and leadership skills, and implementing conflict resolution skills in numerous situations.

5 Ethical Conduct (IBETH)
Promoting moral and ethical mindset and conduct to ascertain and disclose true and unbiased financial health of the companies. Safeguarding interests of different stakeholders in an unbiased manner to promote corporate value system which is humane, fair and equitable.

The purpose of the Accounting and Accountability course is to enhance your knowledge and understanding, and intellectual skills principally in the field of Accounting and Accountability and more importantly their linkages with the issues pertaining to corporate finance, and strategy.

According to above-mentioned Intended Learning Outcomes (ILOs) you will find exposure to numerous situations, whereby you record and present financial accounting data in such a manner that the users of financial accounting statements can know about the real financial health of the firm being analyzed. The true, objective and unbiased financial information help managers to plan and revise their business strategies, check financial health, policy formulation and planning process. The process of understanding how financial accounting information assists to make corporate decision-making process is a core element of this course.

You are also expected to understand different management accounting functions and applications, diverse management accounting techniques, methods and tools in different business situations in order to solve challenging business problems. You will understand the relevance of the high-quality accounting information and their multiple interpretations in the business life, which ultimately optimize planning, strategies, risk management and business-decision making.

You are further expected to understand that Accounting and Accountability is not isolation of overall business strategy of corporates. You will create and produce indicators describing the success of operations based on cause/consequence logic, as well as able to collect information pertaining to corporates needed for measurement. You will identify the economic requirements and the resource requirements related to personnel, necessary to achieve the abovementioned objectives. You will use budget information as a tool for examining and evaluating the results and analyze financial risks of a firm and manage them.

Execution methods

The primary modes of delivery are face-to-face learning. This is an in-classroom course. Attendance is mandatory. Unauthorized absences exceeding two can lead to removal from the course.

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.

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

In Classroom teaching. Lectures, Presentations, Seminars, Assignments.

Employer connections

Various possibilities can be discussed.

Exam schedules

You will get this information via Moodle.

International connections

You will be encouraged to participate in various international projects such as CFA Global Research Challenge, Corporate Consolidation Project (in collaboration with the Utrecht University of Applied Sciences, The Netherlands) and Saxion University of Applied Sciences (The Netherlands).

Student workload

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