Code: SOC2RB012
Extent: 3 ECTS (81 h)
Timing: Semester 2
Language: English
Level:  Professional studies
Type: Compulsory

Prerequisites
Basics of Business Mathematics

Learning outcomes
The course will introduce the basic concepts and procedures of financial accounting. The student will learn to analyse strategically the economic information that companies display in their Financial Statements. Emphasis will be placed on managerial level ratio analysis and interpretation.

Upon successful completion of the course, the student
• Can interpret financial statements
• Understands from where and how operational profit is generated. 
• Understands the economic thinking behind all business operations

Course contents
• Accounting basics: Overview of accounting systems
• Fundamental concepts: Revenue, Costs, Assets, Equity, Liabilities
• The accounting cycle and Financial Statements: Income statement, Balance sheet, Statement of Cash Flows
• VAT calculations
• Gross profit, inventories
• Working capital
• Ratio analysis of Financial Statements

Cooperation with the business community and other organisations
Companies analyzed are real entities.

International
Throughout the course international accounting standards will be applied.

Teaching and learning methods
It is possible to complete the course based on classroom learning or part time learning:

a) Classroom learning:
Lectures and Examination 48 h
Self-studies 33 h

b) Part Time Learning:
Lectures and Examination 24 h
Self-studies 57 h

Studies include mainly practical exercises.

Identifying and acknowledging previously acquired skills (in Finnish AHOT)
Courses or parts of courses at other educational institutes or work experience are not accredited as such towards the HAAGA-HELIA studies directly, but the required skills and competences are demonstrated by a skills examination.

Teacher/s with the main responsibility for the course
Pekka Heikkilä, Haaga

Course materials
Schmidgall, R. 2005. Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. 
Lecture material

Assessment criteria
Examination 70%
Assignment 30%