Financial Accounting B (BBEng) (B-KUL-HBE21E)
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Aims
The registration and analysis of financial information are essential competences for business students. Reliable financial information is the basis for numerous business decisions to be taken by various internal and external stakeholders of the organization (e.g. current and/or future shareholders, management of the organization, financial institutions, creditors, etc.).
This course is designed to provide students with a broad, basic knowledge of financial accounting. Students must be able to apply double-entry accounting and to record correct entries for common transactions concerning fixed assets, equity and liabilities, including corresponding end-of-period adjustments. In addition, they should be able to translate this information into the financial statements.
In this course, the following key objectives are (partially or fully) realized:
- 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.
- Can apply correct journal entries within the system of double entry bookkeeping based on supporting documents and using a chart of accounts.
- Has insight into the current financial reporting regulations and applies them to register financial transactions.
- Has insight into accounting law and corporate financial statements and applies it when registering fixed assets, equity and liabilities, including year-end adjustments.
The position of the course in the framework of the learning objectives of the programme can be found under the section “Objectives” of the “Bachelor of Business Engineering (Brussels)”.
Previous knowledge
Financial Accounting A (BBENg)
Identical courses
This course is identical to the following courses:
Y05151 : Accounting B
HBA40C : Financial Accounting B
HBH88E : Accounting B
Is included in these courses of study
Activities
3 ects. Financial Accounting B (BBEng) (B-KUL-HBE21e)
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Content
1. Tangible Fixed Assets
2. Intangible Fixed Assets
3. Shareholders' Equity
4. Provisions
5. Liabilities
6. Preparing Financial Statements
Course material
Textbook
Course material provided on Toledo
Format: more information
Practical lecture - Traditional lecture
Evaluation
Evaluation: Financial Accounting B (BBEng) (B-KUL-H75957)
Explanation
A written exam in June (closed book, 18 marks), which consists of exercises/cases.
Students are allowed to use the basic chart of accounts, which will be provided during the exam (i.e., students CANNOT use their own chart of accounts).
Students need to bring their own basic pocket calculator.
The use of a dictionary is forbidden.
18 marks on the written exam; 2 marks for actively engaging with the subject matter based on a number of assignments to be submitted by a given deadline (will be communicated during the lectures). [So total score is on 20 marks.]
Information about retaking exams
A written exam in August/September (closed book, 20 marks), which consists of exercises/cases. The 2 marks on assignments during the semester are NOT applicable for the retake.
Students are allowed to use the basic chart of accounts, which will be provided during the exam (i.e., students CANNOT use their own chart of accounts).
Students need to bring their own basic pocket calculator.
The use of a dictionary is forbidden.