Managerial Accounting and lean in retail trade
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.
- 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
- Pricing and pricing strategies
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.