Financial

Accounting for
Global Business
Group work
Instructions
Introduction

Written group work is 20% of the final grade

• The group work shall be completed in a group of 2-3 persons

Signing up for a group shall be done 24.4.2023

• You can sign up for a group in MyCourses

Changes are not allowed

after the deadline
24.4.2023
What to do?

• Select a listed Finnish company for

analysis (UPM & Kesko are not
allowed)
• Not recommended: bank/finance
industry
• Get familiar with your case company’s
annual report 2023 (financial
statement, notes, accounting policies
etc.)
What to do?
Focus on the group work

1. Look at how your case company has applied selected IFRS/IAS standards (list in the following
slide)
• Describe the information presented in your case company’s financial statements (tables,
notes and accounting policies, estimates etc.)
2. Review and analyze if the information provided in the financial statements meets the
requirements of the standard
• For each standard, you should present your assessment of the information provided on a
scale: weak, adequate, extensive → remember to justify
• Describe effects of climate-related matters on the financial statements → what
information would you like to see as an investor? (do this for every standard)
3. Describe the group companies of your case company and consolidation principles
4. Come up with 3 bachelor thesis topic related to IFRS → remember to justify (i.e. academic
references are essential!)
Standards to be analysed
1. IFRS 15
2. IAS 16
3. IAS 38
4. IAS 36
5. IFRS 16
6. IAS 2
7. IFRS 9
8. IAS 37
9. IAS 12

Remember also to describe the group

companies, consolidation principles and come
up with 3 bachelor thesis topics!
What is appreciated in the group work?

Besides good accounting language and professionalism, the following matters are
appreciated in the group work

• Ability to understand the requirements/content and application of IFRS/IAS standards in

a practical manner
• Ability to understand how effects of climate related matters is or should be described in
the financial statements of your case company
• Ability to read, analyze, understand and interpret the consolidated financial statements
• Ability to produce bachelor thesis topics
• Presentation and discussion skills regarding the group work (May 13) – graded separately
Content of the group work

Company and industry overview (max 1 page)

Standard (e.g. IFRS 15)

• Application of standard, i.e. revenue disclosures of your case company
• Does it meet the requirements of the standards (weak, adequate or extensive) →
remember to justify
• Effects of climate related matters on revenue recognition → remember to provide
possible disclosure examples if no information is provided regarding climate effects
Overview of the group companies and consolidation principles (max 1 page)

Bachelor thesis topics (at least 2 pages and remember to add academic refences)
Deadlines

Group work shall be submitted by 9 May at 4pm (20%)

• Word document (MyCourses)

Presentations and discussions 11 May 2023 (5%)

• Each group shall present their work (executive summary) and provide feedback on
another group’s work
Working in groups

Agree explicitly on what each member of the group will do:

• It’s recommended to have a project manager
• Agree the ways of working (e.g., are you going to work together or perhaps divide
the work?)
• Important decisions shall be agreed together
Set a timetable and stick to it
• Work is meant to be done daily/weekly (daily meetings?)
• Participate in the discussion and share your own ideas even if you're not sure
they're right
• Ask others if you don't understand
Be careful how you behave towards each other
• Everyone is responsible for the good atmosphere
Benefits of group work
Why group work?
• Improved learning outcomes: deeper understanding
of course material
• Enhanced problem-solving skills: learn to identify
problems, generate solutions, and evaluate potential
strategies
• Development of interpersonal skills: communication
and teamwork
• Preparation for real-world experiences: collaborative
work is a feature of many workplaces → group work
develops skills that are essential for success in future
careers
• If you are stuck, your group member will help!
Questions?