Financial Accounting and Bookkeeping

Introduction

This course is part of the statutory study plan to obtain approval as a Norwegian state-authorized accountant. The study meets the requirements of the Accountant Act of December 16, 2022, No. 80 § 3-1 and the UHR Recommended Plan BØA - specialization accountant (BØA-RF) of June 22, 2023.

Course content

• Financial Accounting
  • Basic accounting principles and good accounting practices.
  • Recognition and measurement of the most important financial statement items.
  • Accounting rules for small enterprises, including notes.
  • Other regulations for notes and annual reports, including sustainability reporting.
  • Central differences between accounting and taxation.
  • Consolidated financial statements and the principles of eliminating intra-group transactions.
  • Income statement and balance sheet orientation.
  • IFRS and simplified IFRS and the ability to apply selected IFRS standards, including those for property, plant, and equipment.
  • The difference between business economic theory and financial accounting and the ability to analyze cash flows.
  • Understanding of and ability to reflect on the information needs of users and the need for accounting regulation.
• Bookkeeping
  • Basic bookkeeping principles and central aspects of good bookkeeping practice.
  • Knowledge of bookkeeping and quality assurance of transactions and other events in the accounts, including analysis of the accounting consequences of different VAT treatments.
  • Knowledge of preparation and quality assurance of external financial reporting using reconciliations and other analytical techniques.