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.

Knowledge:

After completed course, the student should have knowledge on:

• basic topics, theories, methods, problems and tools within cost accounting.
• 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

Skills:

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.

General qualifications:

After completed course, the student

• masters cost accounting terminology
• can communicate central cost accounting theory.

Streamed lectures, in Norwegian.

Digital seminars with seminar leaders. No registration required, just appear to the seminar that suits your schedule better.

Berg, Terje: Grunnleggende økonomistyring, Cappelen Dam, ISBN 9788202659820, 3. utgave, 2021.

+ supplementary materials made available on the course home page.

Lectures: 2 hours per week.

Seminars/problem solving exercises: 0-2 hours per week.