VHL 3559 Managerial Accounting and lean in retail trade - RE-SIT EXAMINATION

VHL 3559 Managerial Accounting and lean in retail trade - RE-SIT EXAMINATION

Course code: 
VHL 3559
Accounting and Operations Management
Course coordinator: 
Johnny Olesen
Course name in Norwegian: 
Økonomistyring og lean i varehandelen - KONTINUASJONSEKSAMEN
Product category: 
Bachelor of Retail Management - Programme Courses
2021 Autumn
Active status: 
Re-sit exam
Level of study: 
Resit exam semesters: 
2021 Autumn
2022 Spring
Resit exam info

This course was taught for the last time in autumn 2020. Last re-sit examinations will be offered in the autumn of 2021 and spring 2022. 

Work requirements are waived for the re-sit in autumn 2021 and spring 2022.

Teaching language: 
Course type: 
One semester

Wholesale trade is an industry in sharp change, a natural consequence of several factors, of which technological development is probably the most important. New technology not only creates opportunities for improved and more efficient production and flow of goods, but also provides opportunities for the exchange of information on a large scale between relevant players, such as manufacturer, wholesaler, retailer and consumer. Through new and improved communication channels, the competitive situation, consumer behavior and power relations between the players in the industry's total value chain are affected. At a time of major change is good business understanding, good financial insight, a prerequisite for survival over time. Understanding how the store can affect its profitability is an important prerequisite for success, and the connections between the concepts of value creation, interaction, flow and financial management are a prerequisite for achieving this.

Learning outcomes - Knowledge

After completing the course, students will be able to analyze the store's financial situation, be able to prepare calculations and profitability calculations of products, as well as have an understanding of basic lean philosophy and lean concepts. The goal is to create an understanding of the practical application of finances as a basis for planning and following up the business. Students will understand the importance of continuous improvement as a necessary concept to be able to implement corrective measures in operational operations. Furthermore, they should understand the importance of being able to carry out good analyzes while also recognizing that the results of the analyzes are largely due to the selected measurement parameters, measurement method and model of analysis. The students will learn how to comment on the analyzes and consider measures that can be taken to follow up the company's financial goals.     

  • Have a general understanding of the practical application of economics as a basis for planning, monitoring and controlling a business, both in terms of finding corrective measures in operational operations and in developing the business over time in line with long-term goals.     
  • Have a special understanding of the requirements for financial management in modern retail companies. 
  • Understand continuous improvement (lean) as a management philosophy.
Learning outcomes - Skills
  • Be able to make calculations and analyzes that show the economic development of a trading business.
  • Be able to comment on financial analyzes and assess measures that can be taken to follow up the company's financial goals, both in the short and long term.
  • Be able to carry out calculations, both before and after a decision, for example in connection with a campaign.
  • Familiarize yourself with gross profit as a concept and for application considering the opportunities that lie in higher gross profit through better purchasing, better calculations, better control of price reductions and reduced wastage.
  • Be able to recognize challenges related to resource optimization versus value optimization and then be able to perform necessary analyzes and measures.
  • Have knowledge of the eight forms of lean waste philosophy.
General Competence
  • Acknowledging that financial results are a consequence of various decisions and processes, and that the focus on decision-making and optimization of processes is therefore crucial to achieve good financial management. How to create the ideal interaction?
  • Understand the importance of having a critical attitude towards analysis, but at the same time, acknowledging how important and necessary these analyzes are. The business should seek to be computer-driven, which is something other than having a lot of data.
  • Understand the link between revenue-generating and cost-cutting measures, recognizing that "top line", "bottom line" and "gross profit" cannot be optimized independently of one another.
Course content
  • About the connections between value creation, strategy, uniqueness, quality and financial economic goals.
  • Decisions and rationality, result focus versus present value focus.
  • Accounting principles (income statement, balance sheet and liquidity) and accounting analysis
  • Financial management
  • Lean philosophy and lean principles
  • Calculation
  • Pricing and pricing strategies
  • Regression
Teaching and learning activities

The course is conducted over 39 course hours with lectures and group work.

Excel will be used in the context of regression.

Software tools
No specified computer-based tools are required.

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.

Required prerequisite knowledge

Prerequisites equivalent to BØK 3434 Business Economics and Finance is required.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
VHL 35591
Grading scale:
Grading rules:
Internal and external examiner
Examination every semester
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
Duration:3 Hour(s)
Exam code:VHL 35591
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
39 Hour(s)
3 Hour(s)
Prepare for teaching
50 Hour(s)
Group work / Assignments
70 Hour(s)
Student's own work with learning resources
35 Hour(s)
3 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.