Study Guide

Objective

After completing the course, the student is able to:
-understand Basics of Financial and Management Accounting and Reporting
-understand Basics of Duple Entry (Bookkeeping) System, Profit and Loss Statement, Balance Sheet and Cash Flow -Calculation and Financial Key Figures
-understand Basics of Management Cost Accounting and Reporting
-understand Different kind of Unit Costing Methods and Their Effects on Inventory Values and on Profit and Loss Statement
-manage the budgeting process and knows how to make sub- and main budgets
-do investment calculations and suggestions and evaluated them

Content

What is the difference between Financial and Management Accounting and Reporting
Basics of Duple Entry (Bookkeeping) System, Profit and Loss Statement, Balance Sheet, Cash Flow Calculation and Financial Key Figures
Basics of Management Cost Accounting and Reporting
Different kind of Unit Cost Accounting Methods and Their Effects on Inventory Values and on Profit and Loss Statement
Budgeting
Investment calculations and suggestions

Materials

Will be mentioned in Optima later. The execution plan of the course will be open for students in Optima about a week before the first contact teaching day.

The "reference" book in the course is: ”MANAGEMENT AND COST ACCOUNTING” BY COLLIN DRURY (THOMSON, 2005 or newer)

Others materials, which has been put into Optima .

Teaching methods

Multi-Form Pedagogy (InnoPeda): Two (2) contact teaching days plus individual and group home assignments, which reports will be submitted into Optima System and evaluated By the teacher.

The group assignment is an investment decision making exercise where groups of 3-5 students must do investment calculation and suggestion from the case, which the teacher gives. The case is same for all groups. These groups are selected randomly during the first contact teaching day.

The teacher will send to students a survey about 2-3 weeks before the first contact teaching day. He wants to know what kind of previous studies, expertise and experiences students have from the field of management accounting.

Students must put their answers to this survey as a file into Optima by 25.9.2020. The teacher tries to focus the content of the contact teaching days based on the results of this survey.

Exam schedules

No tests.

International connections

Multi-Form Pedagogy (InnoPeda): Two (2) contact teaching days plus individual and group home assignments, which reports will be submitted into Optima System and evaluated By the teacher.

Completion alternatives

No optional ways to complete the course.

Student workload

Home assignments will be described in Optima and introduced during the first contact teaching day.

Content scheduling

The Course focuses on topics in the field of Management Accounting and Financial Statements (Protif/Loss Statement + Balance Sheet) and their Key Figures (what they are and what they mean in theory and in practice for a manager).

The two contact days are:

On Friday 9.10.2020, between 9-16 o´clock, in Turku, in the classroom: LEM_A314
On Thursday 26.11.2020, between 9-16 o´clock, in Turku, in classroom: LEM_A308

Please check classrooms from calender before comming to contact teaching !

Evaluation scale

H-5

Assessment methods and criteria

All assignments will be evaluated by the teacher by using the grading scale 1-5. The grading is based on the content and correctness of the home assignments. The final grade of the whole course is the mean of the grades of all home assignments done during the course.