course-details-portlet

AE101324

Financial Accounting I

New from the academic year 2025/2026

Assessments and mandatory activities may be changed until September 20th.

Credits 7.5
Level Foundation courses, level I
Course start Spring 2026
Duration 1 semester
Language of instruction Norwegian
Location Ålesund
Examination arrangement Written School Exam

About

About the course

Course content

The goal of the course is that students can keep a simple account with a focus on various postings such as goods transactions, salaries, accruals, etc. In addition, students should be able to perform a year-end closing including tax and dividends and prepare the 3 main reports in accounting with key figure analysis in accordance with the Norwegian Accounting Act (NGAAP).

Learning outcomes:

  • Understand basic accounting principles
  • Understand the difference between income/costs and receipts/payments
  • Perform different types of bookkeeping of varying difficulty including relevant accruals in order to close an account in line with the Norwegian Accounting Act
  • Perform a year-end closing of the account with associated closing entries in line with the Norwegian Accounting Act
  • Prepare profit and loss and balance sheet reports, as well as a cash flow statement
  • Discuss a simple key figure analysis based on calculations

Learning outcome

Knowledge

The Student

  • has knowledge of the financial statement as a source of information
  • has knowledge of the content and regulation of financial accounting in Norway
  • has knowledge of the fundamental accounting principles in the Norwegian accounting act
  • has knowledge of recognition and measurement of assets, liabilities, income, and expenses in an annual account in accordance with Norwegian accounting act (NGAAP) with emphasis on:
    • Fixed assets
    • Inventory (stocks)
    • Receivables and cash
    • Current and non-current liabillities
    • Income tax
    • Equity and distribution of sharedividends to shareholders
  • has insight of the content of a cash-flow statement
  • has insight into key financial ratios in analysis of a financial statement (financial statement analysis)

Skills

The Student

  • can keep simple accounts
  • can recognize necessary adjustments and prepare annual accounts for a small, limited liability company (Ltd) in accordance with Norwegian accounting act (NGAAP).
  • can prepare a cash-flow statement
  • can calculate key financial ratios and evaluate a business profitability and financial position in a financial statement analysis.

Competences

The Student

  • can aquire new knowledge within the above-mentioned subject areas.

Learning methods and activities

  • Plenary lectures
  • Practice hours with guidance from learning assistants or lecturer
  • Independent work with tasks/work requirements individually or in groups

Compulsory assignments

  • Mandatory assignment

Further on evaluation

Mandatory attendance at practice sessions may be required and up to five written assignments must be passed. Mandatory assignments will be specified at the start of the semester.

Students who have been approved for mandatory prerequisites in previous attempts are exempted from mandatory activities in later attempts at the exam, unless significant changes are made to the course content.

Exam format: 4-hour individual, written school exam

Supporting material allowed on exams: Approved calculator regarding NTNUs support material code B-D "specific basic calculator". Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus. Minimum attendance of 80% at exercise sessions. Approved assignments from earlier years are valid until substantial changes are done with respect to course content.

Specific conditions

Admission to a programme of study is required:
Biomarine Innovation (298BMI)
Business Administration (BØA)
International Business Administration (BØKADIB)
Marketing, Innovation and Management (359ML)

Required previous knowledge

None

Course materials

Syllabus is given at the start of the semester.

Subject areas

  • Economics and Administration

Contact information

Course coordinator

Department with academic responsibility

NTNU School of International Business

Examination

Examination

Examination arrangement: Written School Exam
Grade: Letter grades

Ordinary examination - Spring 2026

Written School Exam
Weighting 100/100 Examination aids HJELPEMIDD Duration 4 hours Exam system Inspera Assessment Place and room Not specified yet.