Economic management and accounting

Financial accounts: The importance of financial management, liquidity budget and profit budget, balance, Profit and loss account, postings and basic accounting, document, payroll, travel expenses and value assessment.

Internal accounting: different cost concepts, calculation of costs and cost allocation, calculation principles, different operating accounting models, zero-point analysis, product selection, price decisions and market adaptation, key figures, and analysis of projects

Knowledge

The candidate can:

• Explain what financial management is and have knowledge about different company forms and cost concepts.
• Explain the content of salary calculations and rules for travel invoices.
• Explain the assessment and value assessment of the balance items
• Understand and explain what calculative costs are and how these are to be calculated.
• Explain various principles that form the basis for cost allocation.
• Understand the purpose of product calculations and know different calculation principles.
• Explain what a budget is and what budget it is appropriate to set up in different situations.

Skills

The candidate can:

• Prepare and create a profit budget and liquidity budget.
• Prepare and create a profit and loss account and the balance.
• Post transactions to account debit / credit.
• Register salary and travel expenses.
• Calculate some basic financial key figures.
• Calculate different cost types.
• Calculate present value and internal rate of return.
• Manage various product calculations.
• Understand and prepare operating accounts.
• Make calculations and setups in connection with zero-point analysis.
• Prepare and create calculations in connection with analysis of long-term projects.

General competence

The candidate can:

• See the importance of knowledge about, and understanding of, financial management in a company.
• Read and evaluate existing budgets and accounts to understand a company's financial situation.
• Manage calculations as basis to analyse a company's financial situation and development.

The teaching in the course consists of lectures with a review of theory followed by practical problem solving. The problem solving takes place in a classroom where the subject teacher and/or learning assistant reviews relevant tasks together with the students. This is so that the students can practice internal accounting routines in practice. In addition, it is planned that the students will work on practical assignments independently between the teaching hours.