Financial Accounting B (BBEng)

Description

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)”. ERS objectives Upon completing this course, the student will be able to: Critically evaluate accounting information, recognize the underlying assumptions, and reflect on them in a well-reasoned manner. Identify the information needs of different stakeholders and understand how accounting information addresses those needs.