International Business: Financial Accounting

The course consists of three main parts.

In the first part, you will study accounting as a form of communication and as a powerful tool for decision-making for managers and external users. You will learn the purpose of the main financial statements and how they relate to each other. You will also examine the conceptual framework of accounting and learn the International Financial Reporting Standards.

In the second part, you will learn how to process accounting transactions using the double-entry accounting system. You will work with income, expenses, assets, liabilities and equity. You will prepare a simple set of financial accounts and analyse how transactions affect the accounting equation, like the income statement and the balance sheet.

In the third part, you will be provided with a framework to perform financial analysis of companies. This is done by computing and using various ratios to assess a company’s liquidity, solvency and profitability. The course also covers ethical issues in accounting and the moral and social implications of accounting decisions.

Course literature

The course literature listed may be updated up to eight weeks before the course begins.