KREV100 Basic Accounting
- Number of credits7,5
- Teaching semester2023 Autumn
- Language of instructionEnglish
- CampusKongsvinger
- Required prerequisite knowledge
No special requirements
- The structure of accounts
- Standard account framework and plan
- Documentation and storage requirements
- Value added tax
- Salary, holiday pay, employer’s National Insurance contributions and tax deductions
- Depreciation
- Other accruals and provisions
- Valuation rules
- Closing of accounts with presentation of profit and loss statement and balance sheet
- Simple key figures
Learning Outcome
Upon successfully passing the course, students will have achieved the following learning outcomes:
Students
- can explain the purpose of financial accounting as well as the key requirements and framework conditions it must meet
- can explain the structure of financial accounting from registration of transactions to impact on profit and loss and balance sheet
- can classify financial transactions in accordance with the Norwegian standard chart of accounts
- can state basic accounting principles and reporting requirements
- can distinguish between the terms expense/disbursement/cost, income/payment as a basis for correct account processing
Students
- can understand commonly occurring transactions in a financial statement
- can understand commonly occurring accruals in a financial statement
- can read and understand a profit and loss statement for a given period and a balance sheet report at the end of a given period based on a transaction summary/balance sheet
- can understand key performance indicators of a company’s profitability, liquidity, financing and financial strength based on information in financial accounts and additional information
Students
- can explain accounting as a source of information
- can participate in ongoing accounting registration and preparation of annual accounts in accordance with good accounting principles, standards and legislation
There is a 50% attendance requirement regarding course teaching.
The course has 1-4 pieces of coursework. The coursework may consist of multiple-choice tests, spreadsheet exercises and/or written submission. The amount and form of coursework will be stated on the university’s learning platform at the start of the course.
4 hour written, individual examination.
Performance is assessed using a grading scale from A to F, where E is the lowest passing grade.
| Form of assessment | Grading scale | Grouping | Duration of assessment | Support materials | Proportion | Comment |
|---|---|---|---|---|---|---|
Written examination with invigilation | ECTS - A-F | Individual | 4 Hour(s) |
| 100% |
| Name | Credits | Date | Comment |
|---|---|---|---|
SREV100 Grunnleggende regnskap | 7,5 | ||
3REV100 Grunnleggende regnskap | 7,5 | ||
ØKA1012 Grunnleggende regnskap | 7,5 | ||
HREV100 Grunnleggende regnskap | 7,5 | ||
NREV100 Grunnleggende regnskap | 7,5 | ||
8REV100 Grunnleggende regnskap | 7,5 |
Reading list
No reading list available for this course
Calculator in accordance with calculator use guidelines in economics/administrative programmes of study at Inland School of Business and Social Sciences – Faculty of Economics and Social Sciences. Updated guidelines will be available and communicated to students at the start of each academic year of study.