BØK 3434 Managerial Accounting and Finance - RE-SIT EXAMINATION
BØK 3434 Managerial Accounting and Finance - RE-SIT EXAMINATION
The course was completed for the last time in spring 2023. A re-sit examination is offered in autumn 2023 and for the last time in spring 2024. There will be no requirement for approved work requirements to be able to take the re-sit examination when the course is phased out.
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.
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.
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.
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.
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 using a financial calculator
- Time value of money (forward and backward interest calculation)
- Measuring profitability (present value, internal rate of return and repayment)
- Cash flow budgeting (including working capital requirements)
- Loan financing (serial loan, annuity loan and overdraft)
- Effective interest calculation
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)
E-Learning
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.
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
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
No particular prerequisites are required.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 100 Grouping: Individual Duration: 5 Hour(s) Comment: Home Exam Exam code: BØK34341 Grading scale: ECTS |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 57 Hour(s) | |
Prepare for teaching | 113 Hour(s) | Preparations incuding assignment reviews, work on syllabus and coursework requirements. |
Examination | 30 Hour(s) | Exam incl. preparations. |
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.