Current active course description (last updated 2020/21)
Introduction to Accounting
FIN1001
Current active course description (last updated 2020/21)

Introduction to Accounting

FIN1001
Candidates are given a first, basic introduction to accounting that will enable students to independently lead a simple accounting. Main topics are the accounts as a source of information, basic principles and requirements for financial statements, registration of vouchers, Bookkeeping Act, Accounting with the layout of accounts, introduction to accounting regulations, and closing balance.

Knowledge

Upon successful completion of this course the student should have:

  • knowledge of purpose and recognition of a financial statement
  • knowledge of double-entry
  • knowledge of the concepts of expenses, costs, expenditures, revenues and payments, balances and relationships between these
  • knowledge of key provisions of the Bookkeeping Act and Accounting Act format for Financial Statements
  • basic insight into the financial accounts structure and framework

Skills Upon successful completion of this course the student should:

  • be able to post the most common transactions, including VAT
  • be able to conduct regular accrual postings (also for wages, and vacation pay)
  • be able to conduct annual reports with simple year-end postings
  • be able to explain the links between transactions and their impact on the income statement and balance 

General competence Upon successful completion of this course the student should have:

  • the ability to judge and categorize various economic events generally and transactions especially with regard to accounting effects
No costs except semester registration fee and syllabus literature.
Compulsory
Teaching and problemsolving in plenary. Working in groups on exercises, with assisting teachers.
The study programme is evaluated annually by students by way of course evaluation studies (mid-term evaluation and final evaluation). These evaluations are included in the university's quality assurance system.

Overlap refers to a similarity between courses with the same content. Therefore, you will receive the following reduction in credits if you have taken the courses listed below:

BE117E - Business Analysis and Accounting - 7.5 credits

BE101E-003 - Fundamentals of Cost Accounting, Financial Accounting and Analysis - 7.5 credits

BE101E-004 - Written supervised examination - spring semester - 7.5 credits

BE101E-005 - Written supervised examination - autumn semester - 7.5 credits

BE119E - Fundamental Management control 1 - 4 credits

BE120E - Fundamental Management control 2 - 3.5 credits

BE113E - Introduction to Financial Accounting - 7.5 credits

ØKO110 - Accounting I - 7.5 credits

ECO1010 - Business Economics and Competitiveness - 7.5 credits

REG1003 - Agricultural Accounting - 2.5 credits

Choose start semester
Curriculum literature
Leganto
Course language
Norwegian
Credits
7.5
Study location
Bodø, Mo i Rana, Steinkjer
Responsible faculty
Nord University Business School
Course coordinator
Information about the course coordinator for the selected semester is no longer available. Please contact the current course coordinator.