Managerial Accounting (5 cr)

Evaluation scale

0-5

Objective

After completion of this course, you will be aware of the current academic debates and practitioner discourses in the discipline of managerial accounting and also be able to observe and analyze them in real life. You display an ability to critically follow and analyze the information in the field and area of study. You recognize the challenges in the discipline of managerial accounting and you are able to develop your knowledge and practical skills in managerial accounting. Based on this, you are able to make interpretations and draw inferences in the field of corporate finance, corporate governance, and financial management.

The course aims to develop your following competences:

Ethics:
You will promote a moral and ethical mindset and conduct to ascertain and disclose true and unbiased financial health of the company. You will safeguard the interests of different stakeholders in an unbiased manner to promote a corporate value system that is humane, fair, and equitable.

Learning to learn:
You will learn to read and analyze the financial statements of corporates to ascertain their financial health by applying various techniques and methods in the field of Management Accounting. You will review academic literature critically, analyze and evaluate financial and other business data, and make value-additive informed business decisions and action plans.
You will create and produce indicators describing the success of operations based on cause/consequence logic, as well as be able to collect information pertaining to corporates needed for measurement. You will identify the economic requirements and the resource requirements related to personnel, necessary to achieve the above-mentioned objectives. You will use budget information as a tool for examining and evaluating the results to analyze the financial risks of a firm and manage them.

Proactive development
• You identify development areas by anticipating the future of your field.
• You apply existing knowledge and utilize appropriate research methods in development projects.
• You develop the ability to think out of the box and challenge the limits to come up with creative and innovative solutions.

IBM competence:
Sustainable global business management
• You critically review and understand core concepts of global business management and sustainability from multidisciplinary perspectives of marketing, sales, strategy, finance, and management.
• You apply disciplinary and interdisciplinary knowledge to analyze global business challenges and propose sustainable business solutions to grow new ventures in global markets.

Content

Theoretical aspects of accounting, financial statement analysis, financial performance measurement, regulatory framework, corporate governance and ethical issues of accounting, financial ratio analysis, corporate valuation, balanced scorecard as a tool for strategic budgeting, economic value added (EVA), cost concepts, absorption costing, pricing, planning and budgeting, fundamental of financial management, capital investment appraisal, financial risk management, cash flow, forecasting, sensitivity analysis.

Location and time

The course is organized in spring. Lecture seminars are organized twice on Friday as well as Saturdays (4 meetings times 6 hours). This is an in-classroom course. Attendance is mandatory. Unauthorized absences can lead to removal from the course.

Materials

Lecture slides will be the starting point for learning the subject matter of the course.

Course Books:
1. Barry Elliott, Jamie Elliott: Financial Accounting and Reporting, Pearson Education.
2. Proctor, Ray: Managerial Accounting for Business Decisions. Prentice Hall.
3. Russell David, Patel Ashok & Wilkinson-Riddle Gregory: Cost Accounting An Essential Guide. Pearson Education Ltd.
4. Atkinson Anthony, Kaplan Robert, Matsumura Ella & Young Mark: Management Accounting. Prentice Hall.
5. Brealey, Richard A., Myers, Stewart C. and Allen, Franklin: Principles of Corporate Finance. McGraw-Hill.
6. Oliver, M. Suzanne, & Horngren, Charles T. Managerial Accounting. Pearson.
7. Groot Tom & Selto Frank. Advanced Management Accounting. Pearson.

Teaching methods

The primary modes of delivery are face-to-face learning (lectures, workshops, presentations).

Exam schedules

Both group and individual assignments are required.

International connections

There are possibilities of having collaborations with other universities in Finland and abroad with respect to joint research, and corporate projects.

Completion alternatives

Accreditation (replacement and inclusion)
Recognition of informal learning
Studification

Further instructions can be found in the Degree Regulations and in the Bachelor's Degree study guide.

Student workload

You will be required to required to invest 135 hours approximately.

Assessment criteria, satisfactory (1)

Sufficient (1):
You have demonstrated a basic level of knowledge, skills, applications in all the three competences: Learning to learn, Proactive development and Sustainable global business management.

Satisfactory (2):
You have demonstrated an intermediate level of knowledge, skills, applications in one and basic level in the remaining two competences out of a total three competences: Learning to learn, Proactive development and Sustainable global business management.

Assessment criteria, good (3)

Good (3):
You have demonstrated an excellent level of knowledge, skills, applications in one and intermediate level in the remaining two competences out of a total three competences: Learning to learn, Proactive development and Sustainable global business management.

Very good (4):
You have demonstrated an excellent level of knowledge, skills, applications in two and intermediate level in the remaining competence out of a total three competences: Learning to learn, Proactive development and Sustainable global business management.

Assessment criteria, excellent (5)

You have demonstrated an excellent level of knowledge, skills, applications in all the three competences: Learning to learn, Proactive development and Sustainable global business management.

Qualifications

Bachelor degree