Managerial Accounting - RE-SIT EXAM

Introduction

The essence of business economics includes financial management (=income and cost analysis, managerial accounting, budgeting and control), finance (=investment and financing), financial accounting and financial statement analysis.
The aim of this first course within the field of business economics is to provide the students with essential basic knowledge and skills, so that they can take part in discussions on problems in business economics and carry out simple analyses within the field, make correct decisions and communicate the results of the analyses in a comprehensible manner.
This course in Managerial Accounting starts with investment analysis. By studying the main activities carried out in a company as an investment project spanning several periods, emphasis is placed on the necessity of considering all economic effects of the project and of taking a long-term perspective (over several years, until the project is completed).
After studying the overall perspective given by finance, the course discusses individual problems that provide more detailed knowledge on, and understanding of vital aspects for more short-term financial management and control. This is a practical approach to business economics, since it is easier to understand the various sub-themes of the field when you know why they are discussed and what part they play in the total picture.

Course content

The course consists of four parts:

Part 1: Accounting
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)?
 

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: Budgeting
Budgeting and financial management
Preparation of the main budgets (income statement budgets, cash budgets and balance sheet budgets) and their relationships
 

Part 4: 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?