Course syllabus - Financial and Management Accounting 1

Objectives

The purpose of the course is to give the student basic knowledge regarding terms, connections and theories within the area of financial and management accounting.

Learning outcomes

The student shall be able to:
- describe and understand the components of the financial position, income and cash flow statements.
- explain and show, by computation, how these statements are related and how they combined show different important perspectives of the financial position of a company.
- recognize, account for and compute different kinds of transactions that affect assets, liabilities and equity/capital accounts of the business. This includes knowledge of and ability to compute financial ratios.
- apply theories, models and concepts on specific practical situations and draw general conclusions about a company's or organization's business activities.
- have good knowledge of essential principles for cost accounting, inventory valuation and profit measurement.
- understand and be able to estimate cost with different methods.
- be able to identify and measure relevant costs and revenues for different decision-making.
- show different methods/models of and compute for different kinds of cost allocations. This includes as well using charts to show these computations.
- explain the budgeting process and its conflicting roles.
- understand the principle of management control and how to analyze  cost variances with standard costing which includes  of how these principles are used in practice to make computations for a good cost control.

Course content

The course includes
- The accounting language used in the business arena
- The double entry accounting system - rules and use
- How to work with and use financial statements in practice and relate these to different international general accounting principles (used in the income statement, the statement of financial position and the statement of cash flow).
- How costs should be accumulated for inventory valuation and profit measurement
- Principles and methods for measuring relevant costs and revenues for decision-making (i.e. cost-volume-profit analysis and capital investment models)
- Information for planning and control (i.e. the budgeting-process)
- A business perspective on information technology (IT) and its practical use and importance.

Tuition

Lectures, practice exercises, seminars. Attendance at seminars is compulsory.

Requirements

English B.

Examination

Assignment (INL1), accounting, 1 credit, mark Passed (G)
Assignment (INL2), exercise with IT support, 2 credits, mark Passed (G)
Assignment (INL3), management, 3 credits, mark Passed (G)
Written examination (TEN1), accounting, 4,5 credits, marks Passed (G) or Passed with Distinction (VG)
Written examination (TEN2), management, 4,5 credits, marks Passed (G) or Passed with Distinction (VG)

A student who has a certificate from MDU regarding a disability has the opportunity to submit a request for supportive measures during written examinations or other forms of examination, in accordance with the Rules and Regulations for Examinations at First-cycle and Second-cycle Level at Mälardalen University (2020/1655). It is the examiner who takes decisions on any supportive measures, based on what kind of certificate is issued, and in that case which measures are to be applied.

Suspicions of attempting to deceive in examinations (cheating) are reported to the Vice-Chancellor, in accordance with the Higher Education Ordinance, and are examined by the University’s Disciplinary Board. If the Disciplinary Board considers the student to be guilty of a disciplinary offence, the Board will take a decision on disciplinary action, which will be a warning or suspension.

Grade

Pass with distinction, Pass, Fail

Interim Regulations and Other Regulations

The course overlaps 7,5 credits with each of the cousres EFO021 Financial Accounting 1 (7,5 credits) and EFO022 Management Accounting 1 (7,5 credits). It overlaps also 15 credits with EFO009 Introduction to Financial and Management Accounting (15 credits)