BUS100 Cost Accounting, Fundamentals
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Showing course contents for the educational year starting in 2020 .
Course responsible: Torun Fretheim
ECTS credits: 5
Faculty: School of Economics and Business
Teaching language: NO
Limits of class size:
Teaching exam periods:
This course has teaching/evaluation in Spring parallel.
Course frequency: Given once a year - spring.
First time: 2007H
The course provides an introduction to basic cost accounting and business administration.
The following topics are covered:
Cost and cost behavior; Markets; Product costing, Cost allocation; Short term production decisions and trade-offs; Financial accounts; Time value of money; Capital budgeting.
After completed course, the student should have knowledge on:
- basic topics, theories, methods, problems and tools within cost accounting.
- which factors the firm can affect, which factors it takes as given, and how this might vary across different types of firms and across different markets.
- different types of costs
- different cost allocations methods
- the firm`s short term decision problems
- financial accounting
- time value of money
- different capital budgeting methods
After completed course, the student should be able to:
- give an account of basic cost accounting terminology
- explain which factors affect the firm, both on the short and long term.
- perform a cost allocation case.
- perform cost accounting by the two main methods, and explain the difference between them.
- explain and calculate how changes in activity affects revenue, costs, and profits.
- explain the relation between the balance sheet and profits.
- explain the present value of money
- explain and conduct simple project analysis.
After completed course, the student
- masters cost accounting terminology
- can communicate central cost accounting theory.
- is able to reflect on the firm`s role in the society
Lectures, in Norwegian.
Seminars with seminar leaders. No registration required, just appear to the seminar that suits your schedule better.
Plenary lectures; various material and voluntary multiple choice tests on Canvas; voluntary seminars.
Sending, Aage: Økonomistyring 1. Fagbokforlaget, ISBN 978-82-450-1496-9, 2.utgave, 2013.
Sending, Aage: Arbeidshefte til Økonomistyring 1. Fagbokforlaget, ISBN 978-82-450-1362-7, 2.utgave, 2013.
+ supplementary materials made available on the course home page.
Written exam. The final examination of 3 hours counts 100%.
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
5 ECTS-credits overlap with INN200 and 2,5 ECTS- credits overlap with BUS101.
Type of course:
Lectures: 2 hours per week.
Seminars/problem solving exercises: 0-2 hours per week.
An external examiner is involved in reviewing the course design and the tests.
Allowed examination aids: B1 Calculator handed out, no other aids
Examination details: One written exam: A - E / F