Bookkeeping in PracticeLaajuus (10 cr)

Objective

The student can independently take care of the bookkeeping of a company appropriately and take legal provisions into consideration. Based on the financial statements which he/she has produced, the student can understand the factors which have influenced the financial standing of the company. In his/her work, the student is able to use partial bookkeeping and current material. The student knows the most common methods of electronic financial accounting.

The student knows the principles of value added tax legislation and the most relevant regulations and can master them in taxation. The student understands the importance of reporting in value added tax and knows how to take care of reporting obligations. The student can solve specific value added tax questions and knows where to find tax consultancy.

Content

The course contents include revision of basics, special entries, closing of the accounts of a small limited liability company, accruals and prepayments, and notes of the accounts and company forms. In addition, the course contents include the use of bookkeeping software and the realization of bookkeeping for a case company using bank statements, accounts payable and accounts receivable.

The course covers value added tax liability, taxable sales as well as exemptions to these, private use, tax rates, deductible taxes, special cases of value added tax and value added tax in international trade. In addition, the course covers matters related to recording and registration, tax calculation, reporting and payments as well as cooperation with authorities.

Qualifications

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Assessment criteria, satisfactory (1)

5 (Excellent): The student can independently and accurately take care of the bookkeeping of a company, draw up the financial statements and understand the factors which have influenced the financial standing of the company. In his/her work, the student is able to use partial bookkeeping and current material. The student knows the most common methods of electronic financial accounting.
The student knows the principles of value added tax legislation and the most relevant regulations and masters them in taxation. The student knows how to report the value added tax obligations and can independently solve complex value added tax questions and knows how to choose sources of information efficiently.
4 (Very Good): The student can, with a little tutoring, accurately take care of the bookkeeping of a company, draw up the financial statements and understand the factors which have influenced the financial standing of the company. In his/her work, the student is able to use partial bookkeeping and current material. The student knows the most common methods of electronic financial accounting.
The student knows the principles of value added tax legislation and the most relevant regulations and masters them in common taxation situations. The student knows how to report the value added taxes and can solve specific value added tax questions with the help of tax information.
3 (Good): The student can, with tutoring, take care of the bookkeeping of a company in most cases accurately, draw up the financial statements and perceive factors which have influenced the financial standing of the company. In his/her work, the student is able to use partial bookkeeping and current material. The student perceives the most common methods of electronic financial accounting.
The student knows the principles of value added tax legislation and the most relevant regulations, but needs tutoring when applying them. The student knows how to report the value added taxes. The student needs tutoring when solving specific value added tax questions.
2 (Satisfactory): The student can, with tutoring, take care of the bookkeeping of a company but needs tutoring in correcting errors and in drawing up the financial statements. Interpretation of financial statements is insufficient The use of partial bookkeeping and current material is insufficient. The student perceives some methods of electronic financial accounting.
The student knows the principles of value added tax legislation and the most relevant regulations, but needs a lot of tutoring when applying them and when taking care of reporting the value added taxes. Skills needed in solving specific value added tax questions are insufficient.
1 (Sufficient): The student needs a lot of tutoring when taking care of the bookkeeping of a company and correcting errors. The skills needed in drawing up the financial statements, understanding financial statements, using partial bookkeeping and current material are insufficient. The student knows the concept of electronic financial accounting but does not recognize its methods.
The student knows only partially the principles of value added tax legislation and the most relevant regulations, but cannot apply this nor take care of reporting the value added taxes. Skills needed in solving specific value added tax questions are insufficient.
0 (Fail): The student can produce the data for bookkeeping only randomly and cannot use current material. The student knows the principles of value added tax legislation only partially but is not able to apply this knowledge or take care of reporting or specific value added tax questions.