Financial Accounting and Corporate Reporting I

The course is an advanced course in financial accounting, with emphasis on key measurement problems in preparing financial statements in accordance accounting standards, including IFRS.

The purpose of the course is to provide students with in-depth knowledge of financial reporting, and accounting regulation, and use of rules for recognition and measurement of assets, liabilities, income, and expenses in accordance with selected accounting standards.

Knowledge

The Student

• has knowledge of accounting principles, IFRS framework, the Norwegian accounting law and accounting standards (GRS and IFRS) for financial reporting
• has in-dept knowledge of recognition and measurement of assets, liabilities, income and expenses in accordance with Norwegian (GRS) and international accounting standards (IFRS) with an emphasis on:
  • Revenue from Contract with Customers
  • Property, Plant and Equipment
  • Intangible Assets
  • Construction Contracts
  • Selected Financial Assets and Liabilities
  • Provisions and Contingent liabilities
  • Income Tax
  • Equity and distribution of share dividends to shareholders
• Has knowledge of principles and methods when accounting for business combinations, including merger and demerger
• Has knowledge of key measurement problems in a financial statement prepared in accordance with International Financial Reporting Standards (IFRS).

Skills

The Student can recognize and measure assets, liabilities, income, and expenses in accordance with selected International Financial Reporting Standards (IFRS)

Competences

The Student is able to acquire new knowledge within the above-mentioned subjects, and develop analytical skills and ability for critical thinking.

Work with literature, regulations, standards, and accounting problems, as well as plenary lectures.