BØK 3434 Managerial Accounting and Finance

BØK 3434 Managerial Accounting and Finance

Course code: 
BØK 3434
Accounting and Operations Management
Course coordinator: 
Knut Eikre Larsen
Course name in Norwegian: 
Bedriftsøkonomi og finans
Product category: 
Bachelor - Common Courses
2022 Spring
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

The aim of this first course in the field of managerial accounting is to give students basic elementary knowledge and skills, so that they can take part in discussions on managerial accounting problems, carry out simple managerial accounting analyses, make correct decisions in managerial accounting and communicate the results of the analyses in an understandable manner.

Learning outcomes - Knowledge

After having completed the course, the students shall be capable of explaining concepts and give an account of important tools used in analyses of managerial accounting problems (tools include connections, methods, techniques, models, theories, etc. that are applied in the subject area).

  • Examples of concepts that students must be able to explain: fixed costs, variable costs, sunk cost, present value, internal rate of return, alternative cost, income statement, gross margin, return on total assets, cash flow.
  • Examples from the toolbox: contribution margin calculations, full costing, income statement, cash budget, break-even turnover, profit maximization, ratios and variance analyses.
Learning outcomes - Skills

After having completed the course, the students shall be able to (a) apply acquired knowledge (concepts and tools) in analyses and discussions of managerial accounting problems, (b) distinguish between relevant and irrelevant information, and (c) give written answers to questions so that the readers understand applied method and conclusions. Examples:

  • When the tool is given, be able to apply the tool correctly
  • Based on a simple situation description, be able to choose the correct tool and apply it correctly
  • Based on more complex situation descriptions, be able to seek out relevant information, link it to the correct tool and apply the tool correctly.

Since the toolbox is of a general nature, the learning outcomes also apply in international settings.

General Competence

After completing the course, the students shall be able to ask critical questions and reflect on crucial assumptions and theories within the business economics field, and thus be able to contribute to profitable and sustainable business activity.

Course content

The course consists of the following three parts:

Part 1: Accounting and budgeting
The main financial statements (the income statement and the balance sheet)
How are financial statements prepared (basic registration techniques)?
How can financial statements be used (financial statement analysis)?
Budgeting and financial management
Preparation of the main budgets (income statement budgets, cash budgets and balance sheet budgets) and their relationships

Part 2: Cost and income analysis
Cost theory

Cost allocation
Cost accounting methods (contribution margin and full cost)

Cost- volume-profit analysis
Short-term decision problem areas

Part 3: Investment and financing
Introduction to finance calculator
Discounting and interest rate calculations
How can we measure the profitability of investment projects?

Cash-flow budgeting
How can we measure the costs of various financing alternatives?

Teaching and learning activities

The course consists of a combination of lectures, assignment reviews by the lecturer, digital learning-elements and self-tuition (reading the syllabus and doing assignments).

The recommended workload for coursework requirements will depend on how much the students have worked on the syllabus before the coursework requirements are made accessible. Some of the coursework requirements may require a considerable effort if the students are lagging behind the progress plan for the course.

The teaching will consist of lectures covering part of the syllabus and assignment reviews. Students are expected to study the parts of the syllabus that are not covered by lectures or lecturer assisted assignment reviews on their own. The lectures are based on students being prepared (i.e. that they have read the syllabus, used applicable digital learning elements and done the assignments before the lectures), since this will enhance the learning outcome.

Course participants should use spreadsheets when solving assignments when this is appropriate (for example in connection with financial statement analysis and budgeting)


In course delivery as online courses, lecturer will, in collaboration with the student administration, organize an appropriate course implementation, combining different learning activities and digital elements on the learning platform. The online students are also offered a study guide that will 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.
Additional information

Re-sit examination
Students that have not gotten approved the coursework requirements, must re-take the exercises during the next scheduled course.

Students that have not passed the written examination or who wish to improve their grade may re-take the examination in connection with the next scheduled examination.


Higher Education Entrance Qualification


Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.


Information about what is taught on campus and other digital forms will be presented with the lecture plan before the start of the course each semester.

Required prerequisite knowledge

No particular prerequisites are required.

Mandatory courseworkCourseworks givenCourseworks requiredComment coursework
Mandatory84Eight coursework assignments are published per semester. Four of these must be approved in order to be able to take the exam. In order for the coursework assignments to be approved they must meet certain minimum requirements (e.g. a certain number of questions must be answered correctly). Further information is given at lectures and Itslearning.
Mandatory coursework:
Mandatory coursework:Mandatory
Courseworks given:8
Courseworks required:4
Comment coursework:Eight coursework assignments are published per semester. Four of these must be approved in order to be able to take the exam. In order for the coursework assignments to be approved they must meet certain minimum requirements (e.g. a certain number of questions must be answered correctly). Further information is given at lectures and Itslearning.
Exam category: 
Form of assessment: 
Written submission
Support materials: 
  • BI-approved exam calculator
  • Simple calculator
  • Interest table
5 Hour(s)
Exam code: 
Grading scale: 
Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
57 Hour(s)
Prepare for teaching
113 Hour(s)
Preparations incuding assignment reviews, work on syllabus and coursework requirements.
30 Hour(s)
Exam incl. preparations.
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.