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International Financial Accounting

International Financial Accounting

Code: ACC3LK003

Extent: 3 cr

Timing: 5 th – 6th  semester

Language: English

Level: Professional studies

Type: Optional

Starting level and linkage with other courses

Accounting basics course. Also recommended to have an advanced course in accounting for example financial analysis or preparing financial statements. English skills.

Learning outcomes

Focusing on International Financial Reporting Standards (IFRS) student will be introduced to the process of international harmonization of accounting regulation and the principles of IFRS accounting standards. Student will gain knowledge about applying main IFRS standards. During the course student will get needed vocabulary to be able to read financial documentation in English.

After the course, student has knowledge and skills on how to do accounting in global environment and is able to assist in internal accounting related tasks.

Course contents

  • Background and landscape of International Accounting

  • International Financial Reporting Standards in practice

Teaching and learning methods

Problem Based Learning - active participation 64 h
Self-study 48 h<
The own learning assessment 1 h

Teacher responsible

Heli Kortesalmi

Course materials

Ebrary: International Financial Reporting Standards : A Practical Guide (5 th edition )
Other literature informed at the course

Assessment criteria

Students' performance is graded on the following scale: Excellent (5), Very good (4), Good (3), Satisfactory (2), Fair (1), Fail (0). The assessment criterias are presented on scale 1 - 3 - 5.

Grade/
Kohteet

1 (min. 40 % of target)

3 (min. 70 % of target)

5 (min. 90 % target)

Knowledge

Student recognizes some IFRS related terms.

Student knows the IFRS terms and why company should apply IFRS.

Student knows excellently the IFRS terms and requirements.

Skills

Student can link a business transaction to a certain IFRS standard but is not able to apply the standard into practise.

Student can link a business transaction to a certain IFRS standard and is able to recommend how to apply the standard in practice.

Student can link a business transaction to a certain IFRS standard and is able to recommend how to apply the standard in practice. Student can argument own recommendation based on IFRS standards.

Competence

Student is able to read IFRS financial statement.

Student can act in supporting tasks when preparing IFRS-financial statements or analyzing them.

Student can act in supporting tasks when preparing IFRS-financial statements or analyzing them.

Assessment components and their respective weights

PBL sessions 50 %
PBL memos 50%
The own learning assessment assignment does not impact your grade. The assignment is the same for all courses/modules and your answers will be used also for course/module development. The assignment is completed online in WinhaOpaali.