INN201-B Management Accounting

This course provides an introduction to basic management accounting.

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 completing the course, the student will have the following learning outcomes, divided into knowledge, skills, and general competence:

Knowledge

The student

• has knowledge of basic topics, theories, methods, problems and tools within cost accounting
• has knowledge of different types of costs
• has knowledge of the firm`s short term decision problems
• has knowledge of financial accounting
• has knowledge of time value of money
• has knowledge of different capital budgeting methods

Skills

The student

• can give an account of basic cost accounting terminology
• can explain which factors affect the firm, both on the short and long term
• is able to explain and calculate how changes in activity affects revenue, costs, and profits
• can explain the relation between the balance sheet and profits
• can explain the present value of money
• is able to explain and conduct simple project analysis

General competence

The student

• masters cost accounting terminology
• can communicate central cost accounting theory.
• is able to use cost and income theory in decision-making