Course teacher(s)
Marie-Pierre Lenain (Coordinator)ECTS credits
5
Language(s) of instruction
english
Course content
- the legal and normative framework of accounting in Europe and internationally, including Belgian GAAP (BE GAAP) and IFRS;
- the key principles of financial accounting and double-entry bookkeeping;
- the structure, content, and preparation of the primary components of financial statements, including the Statement of Financial Position (SOFP or balance sheet), the Statement of Profit or Loss (SPL or income statement), and the Statement of Cash Flows (CFS);
- the recording and reporting of financial transactions, from journals to trial balance and financial statements;
- the end-of-year accounting procedures such as adjustments, reconciliations, accruals, and corrections;
- the interpretation and analysis of financial statements to support business decision-making;
- corporate governance, regulatory compliance, and ethical considerations in accounting.
Objectives (and/or specific learning outcomes)
By the end of this course, students will be able to:
- Explain the purpose of financial reporting and its importance in supporting business decision-making;
- Define and apply the fundamental principles, concepts, and qualitative characteristics of financial information;
- Use double-entry bookkeeping techniques to record and process financial transactions;
- Perform reconciliations and prepare trial balances;
- Prepare and interpret basic financial statements;
- Conduct basic financial statement consolidation.
Prerequisites and Corequisites
Required and Corequired knowledge and skills
In addition to any formal prerequisites, students should possess:
- Competence in foundational mathematics, including basic algebra and arithmetic operations;
- Ability to read and understand documents in English, as the course and its materials are delivered entirely in English;
- Basic digital literacy, including the use of standard learning platforms.
Teaching methods and learning activities
- Ex-cathedra lectures, which combine conceptual explanation with interactive elements such as quizzes, worked examples, in-class polls, and occasional case-based exercises;
- Directed exercises, focusing on the practical application of accounting techniques through structured problem-solving and case studies.
References, bibliography, and recommended reading
IFRS Foundation : Official source for International Financial Reporting Standards (IFRS);
Accounting Standards Commission (CNC-CBN) : Belgian Accounting Standards Board
Course notes
- Université virtuelle
Contribution to the teaching profile
This course contributes to the achievement of the following learning outcomes (LO) of the Bachelor's Degree in Economics and in Business Engineering:
- LO 1.1 Apply fundamental concepts, tools and models in economics and management to formulate a well-defined problem and propose a multidisciplinary solution relevant to the economic context;
- LO 2.2 Display critical thinking, logical and abstract reasoning and develop an independent approach to learning.
Other information
Additional information
The course integrates interactive digital tools and a narrative learning companion, supported by generative AI, to foster engagement and guide students throughout the semester.
Contacts
Campus
Solbosch
Evaluation
Method(s) of evaluation
- written examination
written examination
The exam will test both theoretical understanding and practical application.
Mark calculation method (including weighting of intermediary marks)
The course is credited if the final mark reaches 10/20. Only the overall score is taken into account.
Mark transfer policy: from the first to the second exam sitting, students automatically retain their mark if it is at least 10/20.
Marks below 10/20 are automatically voided.
A student who has retained a mark from the first sitting and nevertheless chooses to retake the exam implicitly forfeits the previous result: only the new mark will be taken into account, even if it is lower than the original.
Language(s) of evaluation
- english