Financial Reporting and Taxation in Business Context (5cr)

Objective

Student understands the bookkeeping process based on Finnish Legislation. Hes/he is able to do a small company’s financial reporting and taxation. Student is able to calculate currency differencies and value added taxes. He/she is able to make statistics.

Content

Prerequisites: Previous study's basic of bookkeeping.
Previous studies: Basic Knowledge and Skills on Economic, Financial Management and Business Mathematics or similar.
On first lecture there will be exam to check students knowledge of bookkeeping.

Financial Reporting:
- company forms + bookkeeping differences
- financial statement and external reports
Financial planning and main objectives
Taxation:
- taxation, direct and indirect
- TAX law and taxation procedure, mainly on company's point of view
- taxation system and principles in Finland
- VAT continues+ foreign VAT + EU VAT + appeals
- accounting earnings
- income sources

Assessment criteria, satisfactory (1)

Satisfactory

Student can name the main concepts of financial reporting and taxation. He/she understands the taxation procedures on a basic level and understands the bookkeeping process. Student is able to do basic calculations on currencies, VAT and create statistics with assistance.

Assessment criteria, good (3)

Good

Student can compile financial reporting and taxation documents. He/she can do bookkeeping with assistance. Hes/he is able to calculate currencies and VAT. He/she is able make statistical calculations with some assistance.

Assessment criteria, excellent (5)

Excellent

Student is able to do financial reporting and taxation documents according to the instructions. He/she is able to do the mathematical calculations independently.