BØK 3551 Practical Managerial Accounting and Control

BØK 3551 Practical Managerial Accounting and Control

Course code: 
BØK 3551
Accounting and Operations Management
Course coordinator: 
Johnny Olesen
Course name in Norwegian: 
Praktisk økonomi og virksomhetsstyring
Product category: 
Bachelor - Common Courses
2023 Spring
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

This course is split in two parts. The first part build upon BØK 3434, Managerial accounting and finance, and focuses on accounting structures, cost behavior and budgeting models.  The second part concentrate on more contemporary management control systems with The Balanced Scorecard, Activity Based Costing and Lean.

Learning outcomes - Knowledge

The students shall acquire knowledge of:

  • How various actions and activities within an organization create accounting transactions that are reported in the income statements, balance sheet and cash flow statements
  • Methods for financial statement analysis
  • Business planning by means of budgets.
  • How managerial accounting can be operationalized by The Balance Scorecard
  • Income and cost relevance
  • ABC-costing
  • Continuous improvement as a management philosophy.
Learning outcomes - Skills

The students shall acquire skills about:

  • The preparation of budgets and analysis of budget information with respect to the financial implications of intended activities.
  • The causality and suitability of objectives and measures in a balanced scorecard model
  • The preparation and assessment of profitability analyses
  • The allocation and analysis of costs in an activity structure.
  • Knowledge of the eight different ways of waste in Lean
General Competence

After taking the course, the students shall acknowledge management control as a contextual field.

Course content

Part 1: Understanding accounting and budgeting (50%)

  • Financial accounting structures and how actions turn into accounting transactions
  • Cost concepts and cost allocation dilemmas
  • Methods of financial statement analysis
  • Income statement budgets
  • Cash flow budgets
  • Balance sheet budgets

Part 2: Control and measurement of the value creation processes (50%

  • Making strategy operational and executable, critical success factors, KPIs and strategy mapping
  • Using Balanced Scorecards to evaluate strategy implementation and as tool to allocate operational resources
  • Income and cost relevance
  • The analysis of activity, activity costing and calculation costs of excess capacity
  • Lean philosophy and lean principles
Teaching and learning activities

The course consists of lectures, assignment reviews by the lecturer and self-tuition (reading the syllabus and doing exercises/assignments).

The plenary sessions will consist of lectures on parts of the syllabus and review of assignments. Students are expected to work on those parts of the syllabus that are not covered by the lectures or the assignment reviews. The lectures and assignment reviews are based on students having prepared for the lectures (i.e. that the students have read the syllabus and have solved the assignments before the lectures start).

For students to receive feedback on their progress and to enable them to gain experience in solving exam relevant tasks, there will be posted tests on Itslearning during the course.

It is recommended to use Excel when solving exercise.

When course is delivered online, lecturer, in cooperation with the Academic Services Network, will organize an appropriate combination of digital teaching and lectures. Online students are also offered a study guide to contribute to progression and overview. Total recommended time spent for completing the course also applies here.

Software tools
No specified computer-based tools are required.

Higher Education Entrance Qualification


Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge

BØK 3434 Managerial Accounting and Finance, or equivalent.

Exam category: 
Form of assessment: 
Written submission
Support materials: 
  • BI-approved exam calculator
  • Simple calculator
5 Hour(s)
Exam code: 
Grading scale: 
Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
27 Hour(s)
Feedback activities and counselling
12 Hour(s)
3 Hour(s)
Prepare for teaching
143 Hour(s)
15 Hour(s)
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.