Excerpt from course description

Financial Reporting and Analysis

Introduction

This course provides a foundational yet rigorous introduction to financial accounting from an international perspective. It is specifically designed to guide students through the entire accounting cycle, moving from the basic accounting equation to the preparation of complete financial statements under the IFRS framework.

Students will develop the technical proficiency required to translate economic events into formal journal entries and derive the primary financial reports. Beyond the mechanics of bookkeeping, the course provides a detailed exploration of the recognition and measurement of key balance sheet elements, including assets, liabilities, and equity. This course serves as the technical bedrock for advanced studies in finance and accounting by ensuring a precise command of the language of business.

Course content

 

The course follows a systematic progression from foundational bookkeeping to the application of international standards, covering the following areas:

  • The Accounting Cycle: The transition from the accounting equation to the double-entry system, journalizing transactions, and the closure of accounts.

  • Preparation of Financial Statements: The process of deriving the Statement of Profit or Loss, the Statement of Financial Position, and the Statement of Cash Flows.

  • The Conceptual Framework: Core principles, concepts, and qualitative characteristics underlying IFRS reporting.

  • Accounting for Assets: Technical recognition, measurement, and valuation of inventories and non-current assets (tangible and intangible).

  • Accounting for Financing: Measurement and reporting of financial liabilities and equity components.

  • Component-Level Analysis: Definition and calculation of specific accounting ratios related to balance sheet line items.

Disclaimer

This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.