Study Guide

Objective

After the course is completed should the student be able to:
- describe bookkeeping as a part value chain and in the society
- describe and use central concepts and terminology in bookkeeping
- have a general idea about, VAT regulation, auditing, bookkeeping law
- make a income statement and balance sheet.
- to do practical bookkeeping, wage calculations, and about the closing of the books
- to be able to do reporting in www.vero.fi

Content

- bookkeeping laws and regulation, purpose of bookkeeping
- double entry bookkeeping
- bookkeeping in practice, opening balance, business transactions,
- wage calculations and bookkeeping
- bookkeeping as a basis for decisions
- reporting and responsibilities

Qualifications

Basic Business Economy

Assessment criteria, satisfactory (1)

The student is familiar with the accounting documentation structure and can perform simple accounting entries, bookkeeping and compile simple results. The student understands the importance of bookkeeping as a tool for documentation and monitoring of business profitability in an own company and in companies owned by others. The student realizes that bookkeeping exists, that it is governed by current legislation and needed as a tool in business. Bookkeeping is about crunching numbers.The student is familiar with the fact that bookkeeping is a generally and internationally standardized financial monitoring tool in companies and other organizations, IAS, IFRS, GRI. The student knows that bookkeeping can be done by the company or by authorized external actors. Knows where advice and guidance is available, such as the tax administration, tax authorities, chambers of commerce and business organizations.

Assessment criteria, good (3)

The student understands and can analyze the content of the numbers and understands simple links between transactions, bookkeeping and income statement and balance sheet. Can calculate key figures. The student understands the meaning of bookkeeping for different types of companies. He/she reflects on and can describe the this field's technology development such as an opening for digitalization or robotization. The student can perform bookkeeping transactions manually and by using computer programs. He/she can draw up the income statement and balance sheet and explain the importance of auditing and business audits in operations. The student has read business reports in different languages. He/she recognizes the need for accounting communication within international companies. The student can participate in decisions regarding bookkeeping internally or externally. He/she has competence to search for information regarding educational opportunities/opportunities for further education regarding the field of bookkeeping and accounting.

Assessment criteria, excellent (5)

The student can analyze figures in the income statement and balance sheet along with basic notes. The student can compare branch-specific and company-specific accounting records at a basic level. The student can participate in conversations about the company's financial function and then use basic accounting terminology. He/she may request or develop basic reports such as the opening balance sheet, the daybook, the ledger, the income statement and the balance sheet together with comments regarding bookkeeping transactions. The student recognizes the importance of following changes regarding the complexity of bookkeeping, taxation, legislation and recommendations as well as reporting. The student can read and present simple interpretations of international accounting information based on bookkeeping transactions.The student understands that bookkeeping is something that is constantly changing in terms of tools, legislation and practices, and that the development in society in general influences and affects.