Management Accounting and Control

The course is an introduction to the understanding and application of essential financial terms. Particularly, opportunity cost and sunk cost, are emphazised. Most methods applied in the public sector has its origin in the private sector. Therefore, the methods origin and assumptions are discussed. Also, different kinds of performance measurement are discussed, including the relevance and possibility of including sustainability measures. Essential tools such as financial statements, budgets, and costing systems will be dealt with.

Knowledge

The student must be able to explain and account for key concepts and methods used in financial analyses. Examples of terms that must be explainable: Opportunity cost, sunk cost, decision-relevant costs, cost, cash flow, present value, accrual. Examples of tools that must be able to be explained: full-costing, net present value, the balance equation. In addition, the student must have knowledge of different budget models, sub-budgets and main budgets, units of responsibility and transfer pricing, basic cost distribution, as well as performance measurement.

Skills

The student must be able to apply economic theory to contribute to better use of resources, be able to use accounting, budgets, calculate actual costs, and be able to carry out simple investment analyses.

Competence

The student must develop the ability to apply the theory in their own workplace. This involves, among other things, being able to ask critical questions about, and reflect on, key assumptions and assumptions on which financial management rests. The subject contributes to initial thinking about how financial management can contribute to developing sustainable thinking. The student must also be able to acquire up-to-date knowledge within the above-mentioned areas of knowledge and skills in the subject.

Teaching, group work, self studies and submissions