Course information
Learning outcomes
After having completed the course students should be able to
- Fully comprehend the accounting equation and double entry-accounting
- Understand and be able to explain the difference between cash and accrual accounting
- Prepare financial statements from the source data based on accounting transactions
- Read, understand, and examine the data in an annual report, hereunder the key components in the financial statements
- Develop financial ratios for a company and analyze the information content of these measures to make sound business decisions
- Identify and explain selected components of sustainability information provided by companies
Content
- Conceptual Framework and financial statements
- Recording business transactions
- Accrual accounting
- Presentation of financial statements
- Cash and receivables
- Inventory and merchandising operations
- Fixed assets
- Investments
- Liabilities
- Stockholders’ equity
- Cash flows
- Financial statement analysis
Teacher
Nina Sormunen
Study material
Harrison, Horngren, Thomas, Tietz & Suwardy (2023). Financial Accounting: International Financial Reporting Standards, 12th edition, Pearson.
Workload
Period III implementation - secondary
- Pre-recorded lectures
- Individiual home assignments
Prerequisites
Recommended prerequisites: 22A00110 Laskentatoimen perusteet / ABL-A1300 Yrityksen talouden johtaminen ja raportointi
Evaluation
Exam: 70% of the course grade
Other activities: 30% of the course grade
To pass the course the student has to get: (a) at least 35 points (50% * 70 p) of the exam and (b) at least 50 points of the exam & other activities (50% * 100 p)
Teaching time and location
The teaching time and the location of the course can be found at Sisu information system
- The link leads to Completion methods tab of the course page
- From the top of the page (Version drop-down menu), check that academic year 2025-2026 is selected
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From the blue bar, click Lecture and open the Groups and teaching times tab to see the teaching time and the location of the course. Exam times can be seen by clicking Exam.
Exam instructions at the Open University
The teacher has four (4) weeks to grade the exam submissions starting from the exam date.
Further information
Equivalences to other courses: Introduction to Financial Accounting (22C00100, A22C00100, 22A040, 22A010, A22C00100k, 22C00150)
Online learning environment for the course
MyCourses online learning environment is a tool for both students and teachers for communication and managing everyday course work. You need an Aalto User ID to log in to the course's MyCourses workspace and participate in teaching.
Digital workspace of the course:
MyCourses
More details on completing the course will be available at MyCourses closer to the start of the course.
Registration and course fee
Registration for Open University courses is done via the link below:
Course registration
Registration for this course starts on 8.12.2025 at 9.00
Registration for this course ends on 7.1.2026 at 23.59
It is not possible to register before the registration period has started or after it has ended.
The number of participants is limited to 20.
This course is organized by the Aalto University School of Business.
The course fee is paid upon registration for each course at a time and it is binding. Familiarize yourself with registration and payment rules as well as other guidelines for students:
Registration, payments and rules
Activating Aalto ID and Multifactor Authentication
You can activate your Aalto User ID the day after the registration and you should activate it no later than the day before the start of the course.
Instructions for activating your Aalto user ID
Once you have activated your Aalto user ID, also enable multifactor authentication. Some of Aalto University's services require multifactor authentication.
Instructions for using Multifactor Authentication
