Knowledge

The student...

has knowledge of the information the accounts provide the users
has knowledge of posting and closing accounts
has basic knowledge of relevant laws and regulations in connection with the accountancy.
has knowledge of the standard chart of accounts
has knowledge of the need for accounting analysis and how to carry it out.
has knowledge of the content of a cash flow analysis

Skills

The student...

can post the most common items, set up the final balance for common accounts with standard account numbers, and thus present profit and loss account.
can perform essential accruals at the end of an accounting period
can explain the relation between transactions and their impact on profit and loss and the balance sheet.
can make annual reports with simple annual accounts postings and allocation of profits in companies
can present profit and loss statement and balance sheet in accordance with the Norwegian Act of Accounting.
can perform the principal accounting measurement and valuation issues
can facilitate and correct figures in the accounts to aid analysis
can calculate key figures in connection with accounting analysis and provide an evaluation of the company¿s profitability, liquidity and financing and solidity.
can analyze the cash flow statement
can perform valuation of a company

General competence

The student...

has basic knowledge of financial accounting and can post items and close and accounts.
has knowledge of the main principles and the most important evaluation rules in the Norwegian Act of Accounting.
has sufficient knowledge to analyze a financial statement, and provide a substantiated evaluation of the companies profitability, financing and solidity.

Subject description 6084

Financial Accounting