BEYOND FIGURES: INTRODUCTION TO FINANCIAL ACCOUNTING

Presentation of the manual. Presentación del libro. Prologue. Foreword of the teaching manual. Introduction to accounting. Conceptual accounting framework. Annual reports. Bookkeeping. Accounting cycle. Most common business transactions. Analysing financial data. Glossary of basic accounting terminology. Accounting terminology translation. Chart of accounts. Preparing financial statements using Excel. Solution of the exercises. Solution of the self-study questions.

This manual is an introduction to financial accounting for first year students of the Bachelors of Administration and Economics degree program taught in English. It is prepared according to the active learning methodology by Finnish and Spanish teachers of financial accounting. Financial accounting is essential for business students in order to understand the language of enterprises to make decisions on behalf of all of their stakeholders. The manual begins with the concept of accounting and its theoretical framework in line with International Financial Reporting Standards. Following that, elements of annual reports are presented, and the book-keeping process and the accounting cycle are described. The manual continues with explanation of the accounting of the most common transactions in business and ends with an introduction to financial statement analysis. All chapters have the following common structure according to the active learning methodology: outline, learning objectives, motivation behind the chapter and discussion point, theoretical contents, self study questions (quizzes), exercises (C class exercises with a solution proposed and H home exercises to be solved), workshop (work in groups), summary and further readings. At the end of the end of the book there are four appendices: glossary of terms, glossary of translations for accounting terminology (English, Spanish, Finnish, French and Chinese to help ERASMUS students), chart of accounts, and Excel in Accounting. The content of the manual provides a comprehensive introduction to financial accounting and motivates students to learn by doing.