All programmes > Internal and External Financial Reporting

Internal and External Financial Reporting (B-KUL-D0X47A)

This is a translated version. Original version in Dutch.
6 ECTSDutch52 Both terms
Gaeremynck Ann (coordinator) |  Dekeyser Simon |  Gaeremynck Ann |  Vergauwe Skrälan
OC Handelswetenschappen FEB Campus Kortrijk

Aims

This course contributes to the following learning outcomes:

 

The student ...

 

2 Has knowledge and understanding of the different domains of business management and the coherence between them.

 

2.a Understands basic theories, basic terms, and basic concepts of each management domain, in particular with respect to the financial, operational, commercial and organisational activities, and applies them when solving (business) economics problems.

2.a.1 Understands correct entries within the system of double entry bookkeeping based on supporting documents and using the Belgian chart of accounts.

2.a.2 Understands how the financial situation of a company can be measured and evaluated.

2.a.3 Understands the possible classifications of costs and makes this reasoning itself at a given cost in a given situation.

2.a.4 Understands the different cost methods and also applies these methods to a given initial situation.

 

2.e Has insight into the current financial reporting regulations and applies them to register financial transactions.

2.e.1 Has insight into the Belgian law on accounting and corporate financial statements and applies it when registering the common commercial and financial operations, transactions concerning fixed assets, current assets and liabilities, including the transactions at year-end.

2.e.2 Has insight into the choices the Belgian GAAP offers concerning valuation rules and can make a targeted choice in view of an image-oriented versus tax-efficient presentation in the financial statements.

2.e.3 Has insight into international law (IAS/IFRS) on accounting and statutory financial statements and is able to indicate similarities/differences with respect to the Belgian GAAP.

 

2.f Assesses the financial performance of an organisation based on a thorough understanding of the structure and preparation of annual accounts and also based on the critical use of several techniques of financial analysis; produces recommendations to adjust the financial policy.

 

2.g Analyses critical methods of cost accounting and uses them accurately when taking management decisions.

 

2.t Analyses issues in different management domains on the basis of appropriate theories, concepts and models and proposes a scientifically sound solution.

2.t.1 Analyses the financial situation of an existing company and is able to formulate recommendations about the financial policy based on the information generated by the financial statement analysis.

2.t.2 Analyses what the impact is of a specific cost system on the profit or loss in a given situation.

 

12 Recognises the social and ethical aspects of management and can reflect critically on them.

12.a Estimates the impact of business operations on various stakeholders and society.

12.a.1 Reflects what the impact is of financial figures and decisions to the various stakeholders (suppliers, customers, staff ...).

Previous knowledge

 

Students have knowledge about the basic principles of accounting

 

Identical courses

This course is identical to the following courses:
HTH82A : Internal and External Financial Reporting
Y05069 : Internal and External Financial Reporting (S)
HSH85A : Internal and External Financial Reporting
HSA14A : Internal and External Financial Reporting (B)

Is included in these courses of study

Activities

6 ects. Internal and External Financial Reporting (B-KUL-D0X47a)

6 ECTSDutchFormat: Lecture52 Both terms
Dekeyser Simon |  Gaeremynck Ann |  Vergauwe Skrälan
OC Handelswetenschappen FEB Campus Kortrijk

Content

External financial reporting

 

•           Discussion of the different ledgers of the Belgian balance sheet: valuation and accounting choice (image versus fiscal optimisation) + comparison of Belgian GAAP with IAS/IFRS.

•           Financial statement analysis: liquidity (and cash flow analysis), solvency and profitability

 

Internal financial reporting

•           Cost typologies

•           Break-evenanalysis

•           Integral versus variable production costs

•           Standard costing, including variance analyses

•           Activity Based Costing

Course material

Course material for the part 'External financial reporting':

  • GHIJSELINCK, V. (2020). Financial Accounting – Financiële Rapportering. Mechelen. Wolters Kluwer Belgium. (ISBN-number: 97894030161115)
  • GHIJSELINCK, V. e.a. (2020). Analyseer de cijfers van een onderneming. Mechelen. Wolters Kluwer Belgium. (ISBN-number: 9789403016580)
  • Furthermore, hand-outs, exercises and solutions of exercises will be put at disposal on Toledo.

 

Course material for the part 'Internal financial reporting':

  • Syllabus is made available via Toledo.
  • Furthermore, hand-outs, exercises and solutions of exercises will be put at disposal on Toledo.

Format: more information

The learning content is transferred to the student using concrete examples and exercises from practice.

Evaluation

Evaluation: Internal and External Financial Reporting (B-KUL-D2X47a)

Type : Exam during the examination period
Description of evaluation : Written
Type of questions : Closed questions, Multiple choice, Open questions
Learning material : List of formulas, Calculator

Explanation


The part 'External financial reporting' of the course, taught in the first semester, will be examined during a written exam (test moment) in the January session. The mark obtained on this exam will count for 2/3 of the final score for the course 'Internal and External Financial Reporting'.

 

The part 'Internal financial reporting' of the course, taught in the second semester, will be examined during a written exam (test moment) in the June session. The mark obtained on this exam will count for 1/3 of the final score for the course 'Internal and External Financial Reporting'.

 

If at least a mark of 8 out of 20 is obtained on each individual component (rounded to an integer), the final score becomes the weighted average of the two marks obtained up to two decimal places for the individual components, rounded to one round number. If a mark of less than 8 is obtained on one or both components, the final score becomes the lowest mark on one of the two components (rounded to an integer).

 

If a student has not passed the course and the course is resumed in the third examination period, the part of the course on which:

- a mark of at least 10 out of 20 was achieved, has not to be resumed. The previously obtained mark is recalculated in the new final score.

- a mark of less than 10 out of 20 was achieved, has to be resumed. The 'Best result principle' does not apply at the level of the two different components that are part of the exam!

 

If the course is resumed in a following academic year, then all parts of the exam must be resumed. No grades of parts are transferred to the next academic year.

Information about retaking exams

This course unit allows partial mark transfers in case of partial pass mark:

  • Financiële rapportering en analyse (during academic year)
  • Cost accounting (during academic year)

If a student has not passed the course and the course is resumed in the third examination period, the part of the course on which:

- a mark of at least 10 out of 20 was achieved, has not to be resumed. The previously obtained mark is recalculated in the new final score.

- a mark of less than 10 out of 20 was achieved, has to be resumed. The 'Best result principle' does not apply at the level of the two different components that are part of the exam!

 

If the course is resumed in a following academic year, then all parts of the exam must be resumed. No grades of parts are transferred to the next academic year.