KREG160 Advanced accounting

    • Number of credits
      7,5
    • Teaching semester
      2024 Spring
    • Language of instruction
      English
    • Campus
      Kongsvinger
    • Required prerequisite knowledge

      Recommended requirement: KREV100 Basic accounting or equivalent.

Course content
  • Profit and loss statements and balance sheet information
  • The conceptual framework of IFRS
  • Accounting principles and generally accepted accounting principles
  • International accounting development, regulatory bodies, etc.
  • The relationship between accounting and tax
  • Annual reports and note information
  • Cash flow statements     
  • Accounting regulations for small enterprises
  • Accounting regulations for non-profit organisations
  • Financial statement analysis

Learning Outcome

Upon successfully passing the course, students will have achieved the following learning outcomes:

Knowledge

Students

  • are able to describe the main features of current Norwegian accounting regulations at any time in light of user groups’ need for information and national and international development of standards and legislation
  • are able to explain the content of historical cost and fair value models for accounting with the associated consequences for processing (valuation, accrual) and the interpretation of model-dependent items in the accounts
  • are able to explain the most important differences between accounting and tax rules
  • are able to explain the need for consolidated accounts and the principles for eliminating intercompany items in the preparation of consolidated accounts
Skills

Students 

  • are able to complete annual accounts with notes in accordance with the provisions set out in the Norwegian Accounting Act, especially for small enterprises, including tax items, profit allocation and cash flow for limited liability companies
  • are able to interpret financial accounting data in light of the choice of models used in the Norwegian Accounting Act
  • are able to analyse profitability, risk, liquidity and financing based on the financial accounts
  • are able to consolidate individual company accounts into consolidated accounts
General competence

Students 

  •   are able to critically reflect on the quality and relevance of the information contained in financial accounts in light of their knowledge of accounting regulation, model choices and group conditions
  •   are able to navigate ongoing developments associated with Norwegian and international accounting regulations
Teaching and working methods

Lectures and problem solving.

Required coursework

There are 1-4 coursework requirements for this course. The coursework requirements may consist of multiple choice tests, spreadsheet exercises and/or written submissions. The number of coursework requirements and the form these will take will be published via the University’s learning platform at the start of the course.

Form of assessment

Four-hour written, individual examination.

Performance will be assessed using a grading scale from A to F, where E is the lowest passing grade. 

Assessments
Form of assessmentGrading scaleGroupingDuration of assessmentSupport materialsProportionComment
Written examination with invigilation
ECTS - A-F
Individual
4 Hour(s)
  • Collection of laws
  • Approved calculator
100%
Special print editions of the Norwegian Accounting Act, Norwegian Taxes Act and the Norwegian Bookkeeping Act, as well as regulations or collections of law in which these are included, e.g. Auditor’s Manual
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.
Professional overlap
NameCreditsDateComment
SREG160 Advanced Accounting
7,5
3REV120 Advanced Financial Accounting
7,5
SREV120 Advanced Financial Accounting
7,5
HREV120 Advanced Financial Accounting
7,5
8REV120 Advanced Financial Accounting
7,5
NREV120 Advanced Financial Accounting
7,5
ØKA1014 Advanced Accounting
7,5
3REG160 Advanced Accounting
7,5
Faculty
Inland School of Business and Social Sciences
Department
Department of Business Administration