Study Guide

Objective

You are able make different calculations of management accounting. You understand basics of business bookkeeping and the content of the financial statements as well as principles of budgeting. Furthermore you are able to connect business operations to a company's profitability, solvency and liquidity.

You will have an understanding of the role of accounting in a company, the basis of management accounting and the content of financial statements.

You are able to produce calculations for the purpose of comparisons and decision-making and read the information of financial statements. You are able to make managerial accounting and financial calculations and understand business operations and their connection with profitability.

Content

- Concepts of corporate calculations
- Financial calculations and corporate planning functions
- Management accounting
- Budgeting system and budgets
- What is management accounting?
- What is financial accounting?
- What do different cost terms mean?
- What is profitability?
- What is traditional product costing?
- What is the content of financial statements?
- The role of accounting
- Basic concepts of business economy and accounting
- Costs and profitability of a product and a service
- Basics of investment calculations
- Business bookkeeping and financial statements
- Decision making using economic calculations and basics of budgeting

Teaching methods

Learning outcomes: You can make different calculations of management accounting. You understand basics of business bookkeeping and the main content of the financial statements, personal taxation as well as principles of budgeting. Furthermore, you can connect business operations to a company's profitability, solvency and liquidity.

Core content:
The role of accounting
Basic concepts of business economy and accounting
Costs and profitability of a product and a service
Financial statements
Personal taxation
Percentage calculation, Interest and loan calculation
Comparison of financial ratios in different fields of business
Basics of budgeting and investment calculations.

Further information

This is a foundation to the Financial Management and Financial Decision-Making courses.

Evaluation scale

H-5

Assessment methods and criteria

Your grade will consist of the following parts: 

Individual, pair and groupwork assignments during the lectures 20%

Mid-course exam 30 %

Exam 50 %

Assessment criteria, fail (0)

Insufficient Understanding and Application: Struggling to grasp and apply basic financial concepts, leading to frequent errors.
Incomplete Assignments: Submitting assignments that are incomplete or lack clarity, indicating a lack of understanding or effort.
Limited Participation: Not actively participating in class discussions, which can affect engagement and understanding.
Poor Communication: Difficulty in clearly articulating ideas, which is crucial for both written assignments and verbal presentations.
Low Exam Scores: Consistently scoring below 50% on exams and quizzes, which typically indicates a lack of understanding of the material.

Assessment criteria, satisfactory (1-2)

Grade 1 (Needs improvement):
Understanding and Application: Beginning to grasp basic concepts in financial calculations, budgeting, and investment. Struggles with practical application, makes frequent errors.
Assignments and Participation: Assignments are incomplete or lack clarity. Limited participation in class discussions.
Communication and Exams: Needs improvement in articulating ideas clearly. Scores below 50% on exams and quizzes.

Grade 2 (Satisfactory):
Understanding and Application: Demonstrates basic understanding of key concepts with some gaps. Applies concepts to simple problems with occasional errors.
Assignments and Participation: Completes assignments with basic accuracy. Participates occasionally in class discussions.
Communication and Exams: Communicates ideas but can improve clarity. Scores between 50-60% on exams and quizzes.

Assessment criteria, good (3-4)

Grade 3 (Good):
Understanding and Application: Shows a good understanding of most concepts with minor gaps. Applies concepts accurately to a range of problems.
Assignments and Participation: Completes assignments with good accuracy and detail. Regularly participates in class discussions.
Communication and Exams: Communicates ideas clearly and effectively. Scores between 60-75% on exams and quizzes.

Grade 4 (Very good):

Understanding and Application: Demonstrates a thorough understanding of all key concepts with very few gaps. Applies concepts effectively to complex problems.
Assignments and Participation: Completes assignments with high accuracy and depth. Actively participates in class discussions.
Communication and Exams: Communicates ideas very clearly and persuasively. Scores between 75-90% on exams and quizzes.

Assessment criteria, excellent (5)

Grade 5 (Excellent):
Understanding and Application: Demonstrates an excellent and comprehensive understanding of all concepts. Applies concepts flawlessly to a wide range of problems.
Assignments and Participation: Completes assignments with exceptional accuracy, depth, and insight.
Communication and Exams: Communicates ideas with exceptional clarity and persuasiveness. Scores above 90% on exams and quizzes.