Consolidated financial statementLaajuus (5 cr)

Objective

You know how to determine the obligation and content for preparing consolidated financial statements.
You know how to eliminate intra-group transactions and ownership relationships.
You know how to prepare a consolidated income statement and balance sheet for a small group.
You know how to prepare and interpret consolidated financial reports in both Finnish and English.

Content

When must a consolidated financial statement be prepared?
How are the consolidated income statement, balance sheet, and accompanying notes prepared?
How are intra-group transactions and mutual ownerships eliminated?
How are consolidated financial statements prepared and interpreted in Finnish and English?

Qualifications

You demonstrate familiarity with the basic concepts of bookkeeping, financial statements, and value-added taxation (VAT).
You can prepare bookkeeping and financial statements for an SME in compliance with legislation, utilising bookkeeping software.
You can interpret the statutory reports generated from your bookkeeping.

Evaluation

Students can
a. use professional vocabulary in different situations.
b. justify the information sources in a critical way.
e. choose appropriate models and methods.
g. apply critically the ethical principles of the professional field in different situations.