BØK 3551 Practical Managerial Accounting and Control
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.
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
- Continuous improvement as a management philosophy.
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
After taking the course, the students shall acknowledge management control as a contextual field.
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
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.
Where the course is delivered as an online course, the lecturer will, in collaboration with the study administration, arrange an appropriate combination of digital learning resources and activities. These activities will correspond to the stated number of teaching hours delivered on campus. Online students are also offered a study guide that will provide an overview of the course and contribute to course progression. The total time students are expected to spend completing the course also applies to online studies.
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
BØK 3434 Managerial Accounting and Finance, or equivalent.
|Exam category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Examination every semester
|Form of assessment:||Written submission|
|Support materials:|| |
|Resit:||Examination every semester|
Feedback activities and counselling
Prepare for teaching
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.