Introduction to Financial Accounting

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 (2018). Financial Accounting: International Financial Reporting Standards, 11th ediiton, Pearson. 

Online learning environment for the course & Activating Aalto ID

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. 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 IDDigital workspace of the course: MyCourses

More details on completing the course will be available at MyCourses closer to the start of the course.

Workload
 Period III implementation: online only

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

1. The link leads to Completion methods tab of the course page  
2. From the top of the page (Version drop-down menu), check that academic year 2023-2024 is selected  

3. From the blue bar, click Lecture and open the Groups and teaching times tabto see the teaching time and the location of the course. Exam times can be seen by clicking Exam.
    

   Exam instructions at the Open University

Registration and course fee

Registration for Open University courses is done in Sisu-service. 

Course registration

Registration for this course starts on 11.12.2023 at 9.00  
Registration for this course ends on 8.1.2024 at 23.59

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 rulesAccess Token on Aalto University Campus

To be able to enter campus premises and classrooms you need the student access token of Aalto University. You can get the student access token from campus lobby services. The access token need to be activated with your Aalto account and password before you can use it. Please, arrive the campus well in advance before your first class so that you can make the access token work. Please, see the instructions how to get and activate the access token:How to get an access tokenOtaniemi Campus, Espoo:Campus mapFurther information
Replaces course 22C00100 Kirjanpito (Introduction to Financial Accounting)

Individual study arrangements

If you need individual study arrangements in order to attend a course, contact the Open University office ([email protected]) in good time, at least 14 days before the start date of the course or the examination date. Further information about individual study arrangements:
Individual study arrangements at Open University