VHL 3558 Business Analysis and Calculation in Retailing - RE-SIT EXAMINATION
VHL 3558 Business Analysis and Calculation in Retailing - RE-SIT EXAMINATION
This course was lectured for the last time fall 2016. Re-sit examiniation is offered autumn 2017 and last time spring 2018.
The retail trade is an industry undergoing a rapid development and it is characterized by fierce competition. The owners, officers, employees and other interested parties in this trade are dependent on financial control in the individual shop. This requires necessary knowledge and skills in the area of finance and calculation in order to secure reliable operation and future yield.
On completion of the course in Business Analysis and Calculation in Retailing, the students should be able to carry out calculations and analyses showing the financial development of an enterprise. The objective is to create an understanding of how economics can be applied in practice as a basis for decision-making in connection with planning and follow-up of the enterprise and in connection with corrective measures related to operations. Furthermore, they are to understand the importance a critical attitude to such analyses and the information presented in the financial statements. The students should also be able to comment on the analyses and assess measures that may be implemented to follow up on the financial objectives of the enterprise.
- A general understanding of how economics can be applied in practice as a basis for decision-making in connection with planning and follow-up of the enterprise and in connection with corrective measures related to operations.
- A special understanding of the need for financial management in modern retailing enterprises.
- An understanding that a sound retail concept depends on a focused Pricestrategy
- Be able to perform calculations and analyses showing the financial development of a retailing enterprise.
- Be able to comment on financial analyses and assess measures that can be implemented to follow up on the financial goals of the enterprise.
- Be able to calculate prices and follow up through actual cost calculations by means of the calculation column.
- Be familiar with gross profit as a concept and how it may be applied to utilize the possibilities presented by better purchase, better calculations, better control of price reductions and reduced wastage.
- Understand the importance of a critical attitude to short-term periodic analyses and to the information presented in the financial statements.
- Understand there are som legal and etical pricing issues
- Develop a general focus
- Costs and income, including gross and net turnover
- Calculation and pricing, including the contribution method and the full costing method, the calculation column, selective calculation
- Pricing, including price elasticity, price sensitivity, reference price
- Markup, and Markdowns.
- Balance sheet and profit and loss statement, principles
- Gross profit and contribution margin stated in NOK an as a percentage
- Analyses, salary percentage, return on assets (equity and total assets)
- The purchasing budget and the sales budget
- Liquidity planning
- Price strategies. How to fight a price war
- Price discrimination
- Price promotion
The course consists of 36 hours of lectures and group work.
Coursework requirements:
Two compulsory exercise assignments will be set. One of these must be approved for the student to be allowed to sit for the examination. Feedback on the assignments (coursework requirements) will be given individually on itslearning or in plenary sessions in class.
The amount of self-study is estimated at about 200 hours.
Higher Education Entrance Qualification.
BØK 3434 or equivalent course.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 4 Hour(s) Exam code: VHL 35581 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 36 Hour(s) | |
Prepare for teaching | 40 Hour(s) | |
Group work / Assignments | 70 Hour(s) | |
Submission(s) | 20 Hour(s) | |
Student's own work with learning resources | 30 Hour(s) | |
Examination | 4 Hour(s) |
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.