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721138S Fundamentals of Accounting, 6 ECTS cr 
Code 721138S  Validity 01.08.2019 -
Name Fundamentals of Accounting  Abbreviation Fundamentals of 
Scope6 ECTS cr   
TypeAdvanced Studies Discipline6312 Accounting 
  Grading1 - 5, pass, fail 
Unit Oulu Business School 

Henry Jarva 

ECTS Credits 

6 credits

Language of instruction 



Period 1 (1 year of Master´s programme) 

Learning outcomes 

After completing the course, the student is able to understand, analyze and prepare accounting information used in internal and external reporting.  


Fundamentals of management accounting: understanding cost accounting, cost concepts, cost recording, different product costing methods, cost-volume-profit analysis and using cost accounting information in short-term decision making. Fundamentals of financial accounting: double-entry bookkeeping, accrual accounting, matching principle, revenue recognition, and measurement and recognition of assets and liabilities. Preparation of financial statements:  income statement, balance sheet, and cash flow statement.

Mode of delivery 

Face-to-face teaching.

Learning activities and teaching methods 

36 h of lectures and self-study 124 h.

Target group 

Major students in accounting. Elective for major students in finance and economics.

Prerequisites and co-requisites 

Not applicable.

Recommended optional programme components 


Recommended or required reading 

Materials provided by lecturers.

Assessment methods and criteria 



The course utilizes a numerical grading scale 1-5. In the numerical scale zero stands for a fail.

Person responsible 

Hannele Kantola, Anna Rossi

Working life cooperation 

The course will develop essential knowledge and skills needed for working in accounting departments of companies. The skills include formulation and solving cost calculation problems for reducing and controlling costs, preparation of financial statements using information on business transactions.

Other information 

The number of students is limited.


Current and future instruction
Functions Name Type ECTS cr Teacher Schedule
registration period has ended Fundamentals of Accounting  Course  Janne Järvinen  06.09.21 -15.10.21

Future examinations
Functions Name Type ECTS cr Teacher Schedule
registration period has ended Fundamentals of Accounting, Moodle  Exam  Henry Jarva 
20.10.21wed 16.15-19.15
registration period has ended Fundamentals of Accounting, 1. retake, Moodle  Exam  Henry Jarva 
22.11.21mon 16.15-19.15