Managerial Accounting and Finance

Introduction

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.

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 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