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

Introduction to Accounting

FIN1001
Read more about applications to single subjects
Application deadline
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.
Curriculum literature
Leganto
Subject language
Norwegian
Credits
7.5
Study location
Bodø, Mo i Rana, Steinkjer
Responsible faculty
Nord University Business School
Course coordinator
Employee photo: Torstein Alfred Gustavsen
Associate Professor

Torstein Alfred Gustavsen

torstein.gustavsen@nord.no