Swedish name: Accounting Auditing and Control D
This syllabus is valid: 2024-08-19 and until further notice
Syllabus for courses starting after 2024-08-19
Syllabus for courses starting between 2023-07-31 and 2024-08-18
Syllabus for courses starting between 2020-12-21 and 2023-07-30
Syllabus for courses starting between 2020-08-17 and 2020-12-20
Syllabus for courses starting between 2019-08-26 and 2020-08-16
Syllabus for courses starting between 2018-08-27 and 2019-08-25
Syllabus for courses starting between 2017-08-28 and 2018-08-26
Syllabus for courses starting between 2017-08-21 and 2017-08-27
Syllabus for courses starting between 2016-08-29 and 2017-08-20
Syllabus for courses starting between 2015-08-24 and 2016-08-28
Syllabus for courses starting between 2014-08-25 and 2015-08-23
Syllabus for courses starting between 2013-08-26 and 2014-08-24
Syllabus for courses starting between 2012-08-27 and 2013-08-25
Syllabus for courses starting between 2011-09-05 and 2012-08-26
Syllabus for courses starting between 2010-09-06 and 2011-09-04
Syllabus for courses starting between 2010-08-30 and 2010-09-05
Course code: 2FE107
Credit points: 30
Education level: Second cycle
Main Field of Study and progress level:
Business Administration: Second cycle, has only first-cycle course/s as entry requirements
Grading scale: Three-grade scale
Responsible department: Business Administration
Revised by: Dean of Umeå School of Business, Economics and Statistics, 2024-05-30
This course covers topics related to financial reporting, how management accounting can be used to create value in companies, financial statement analysis and auditing.
The course is given and examined in English.
Generic learning outcomes.
The course has a number of goals for the development of generic competences. After completing the course, the student should be able to:
Common expected learning outcome:
Module 1. Advanced Financial Statement Analysis and Valuation, 7,5 credits
Module 2. Advanced Management Accounting, 7,5 credits
Module 3. Advanced Financial Accounting, 7,5 credits
Module 4. Advanced Auditing, 7,5 credits
Module 1. Advanced Financial Statement Analysis and Valuation, 7.5 credits
The module aims to provide students with relevant theories, methods and models for valuing companies and their securities, primarily equity (common stock). The module deals with the analysis of financial statement information and the use of this information for business strategy analysis, performance evaluation and investment decisions. Accounting and discounted cash flow approaches to valuation are discussed as are forecasting of dividends, earnings, cash flows and pro forma analyses. During the module, students will also be introduced to the code of academic conduct, e.g. referencing and avoidance of plagiarism and cheating.
Expected learning outcomes:
After successful completion of the module, the student should be able to:
Focus of instruction:
Learning is supported by lectures, seminars, literature i.e. textbook and research articles, cases and projects. Students are introduced to academic conduct, for example how cheating and plagiarism can be avoided and referencing techniques.
Module examination modes
Examination is based on an individual written hall exam and an individual computer-based examination on plagiarism and referencing. A passing grade is required for each part of the module. The course is given and examined in English. Note as well examination modes for the course below.
Module 2. Advanced Management Accounting, 7.5 credits
Management accountants are strategic financial management professionals who integrate accounting expertise with advanced management skills to drive business performance, with the postulate that the sustainability of a firm depends on its ability to recognize and benefit from its value drivers. With a solid theoretical framework, the course addresses modern issues in management control and performance measurement. The focus is on the enhancement of shareholder value through customer-driven value creation from a value-based management perspective. A second purpose of the course is to enhance students' knowledge and analytical skills related to the way managers design, and utilize planning and management control systems to implement strategies. Techniques of the management control process are studied and behavioural considerations are discussed. The management accounting systems studied should provide information on the value drivers of organizations, to assist in aligning the self-interests of management with long-term shareholder wealth. The students will also become aware of the varied and changing roles of the management accountant. During the module, students will also be introduced to methods of working in international teams.The contents of the course prepare the students toward the FMAA (Financial and Managerial Accounting Associate) and the CMA certification (Certified Management Accountant), both delivered by the IMA (Institute of Management Accountants).
Expected learning outcomes:
After completing this module, the student should:
Focus of instruction
The developments of the management accounting subject, techniques and concepts are presented during lectures. Requiring reading for the module includes cases, chapters, and articles contained in the assigned textbooks and supplementary materials. Students are expected to take an active part in discussions on the development of the field, literature and article seminars and reporting about case studies. They will be given a number of assignments, leading to continuous assessment. Course work will be done individually and in small groups. Course work must reach an advanced level of knowledge and understanding of the subject.
Module examination modes
Examination is based upon a written individual hall exam and group assignments. A passing grade is required for each part of the module. The course is given and examined in English. Note as well examination modes below for the course as a whole.
Module 3. Advanced Financial Accounting, 7.5 credits
The module develops students' understanding of the International Financial Reporting Standards (IAS/IFRS) and the ability to handle also more complicated accounting issues. The module also covers ethical issues in accounting and sustainability reporting. Publicly traded companies have to apply the IAS/IFRS-standards in their consolidated reporting in Sweden, other EU member states as well as a large number of other countries. Privately held companies can also apply IAS/IFRS standards voluntarily in their consolidated reporting in Sweden as well as a large number of other countries.
Expected learning outcomes
After completing this module, the student should be able to:
Focus of instruction
Learning is supported by lectures, exercises, cases and tutoring.
Module examination modes
Examination is based upon a written individual hall exam and group case-assignments. The cases are discussed in class and participation is obligatory. A passing grade is required for the individual exam as well as for the cases. The course is given and examined in English. Note as well examination modes below for the course as a whole.
Module 4. Advanced Auditing, 7.5 credits
This module aims to give students a solid theoretical and practical foundation in auditing. It covers central topics of auditing, such as, risk and materiality assessment, the planning of auditing, the auditing process and auditors' reporting. Professional ethics and independence issues are also discussed during the course module. The course module is principally based on the International Standards of Auditing (ISAs).
Expected learning outcomes
After completing this module, the student should be able to:
Focus of instruction
Learning is supported by lectures, workshops and seminars, in which students are expected to take an active part. Cases related to the topics will also be used.
Module examination modes
Examination is based upon a written individual hall exam and group assignments. A passing grade is required for each part of the module. The course is given and examined in English. Note as well examination modes below for the course as a whole.
See each separate module.
90 credits out of which 75 credits in Business Administration whereof 15 credit bachelor courses or equivalent. Approved 52,5 credits whereof 7,5 credits in bachelor courses. At least 7,5 credits in finance courses and at least 7,5 credits in accounting.
It is required to have broad knowledge of different specializations within the subject of Business Administration i.e. Management, Marketing, Accounting and Finance. Statistics 7.5 credits or equivalent.
Proficiency in English equivalent to Swedish upper secondary course English B/6.
See each separate module.
See each separate module and below.
The following grading system is used:
Pass with distinction (Väl godkänd, VG, 75% or more),
Pass (Godkänd, G, 50% or more)
and Fail (Underkänd U, less than 50%).
Grades on the course are awarded when the student has passed all examinations and compulsory course elements. The course is given and examined in English.
To receive the grade Pass with distinction (VG) in the 30 credits course consisting of four modules of the same size, the student must have achieved Pass with distinction (VG) in at least three out of four modules. In shorter courses for example 7,5 credit courses, 15 credit courses or 22,5 credits courses Pass with distinction (VG) is given when the student has achieved at least 75% of the total weighted points.
A student who does not pass the first examination will be offered an opportunity to sit a re- examination within two months. An additional examination opportunity is normally offered every academic year, one week prior to the start of the autumn term. If required by specific circumstances, other form of examination can be used.
A student that has failed an examination on two occasions has a right to have another examiner or grading teacher appointed, unless there are special reasons against it. A written request addressed to the Director of Studies should be made no later than 14 days before the next examination opportunity.
Adaptations
Examiners may decide to deviate from the modes of assessment in the course syllabus. Individual adaptation of modes of assessment must give due consideration to the student's needs. The adaptation of modes of assessment must remain within the framework of the intended learning outcomes in the course syllabus. Students who require an adapted examination - and have received a decision on the right to support from the coordinator at the Student Services Office for students with disabilities - must submit a request to the department holding the course no later than 10 days before the examination. The examiner decides on the adaptation of the examination, after which the student will be notified.
Academic integrity and cheating
As a student, you are expected to act with academic integrity. This means writing and presenting within the limits of the academic rules and expectations communicated in the university's regulations and what is otherwise specified by the responsible department. Disciplinary action may be taken against students who use unauthorized help aids or in some other way try to mislead on a test or on another type of task for examination. Rules and regulations concerning the production of academic texts and correct referencing will be applicable to written assignments. Submitted material may be subject to plagiarism control. In addition, Umeå University rules and regulations for education and research apply.
Academic credit transfers are according to the University credit transfer regulations.
This course can not be included in the degree together with 2fe195, 2fe181
Penman Stephen H.
Financial statement analysis and security valuation
5th ed. : New York : McGraw-Hill Higher Education : 2012 : 740 s. :
ISBN: 978-0-07-132640-7 (pbk.)
Mandatory
Search the University Library catalogue
Research articles will be added at the start of the module, approximately 40 pages in total.
Management control systems
Hartmann Frank, Kraus Kalle, Nilsson Göran, Anthony Robert N., Govindarajan Vijay
Second european edition : [2020] : xx, 505 sidor :
ISBN: 9781526848314
Mandatory
Search the University Library catalogue
Reading instructions: or ISBN 9781526848321
Recommended literature: FMMA and CMA handbooks Becker CMA Exam Review packages CMA Exam Academy Textbook Gleim CMA Review Research articles and cases will be added at the start of the module, approximately 50 pages in total.
Alexander David
International financial reporting and analysis
Ninth edition : [S.l.] : Cengage Learning EMEA : 2023 : 1 volume :
ISBN: 9781473786820
Mandatory
Search the University Library catalogue
Reading instructions: ISBN-10: 1473786878 or ISBN-13: 9781473786875
International Financial Reporting Standards (IAS/IFRS) 2024 (available online). European Sustainability Reporting Standards (ESRS) 2024 (available online). IFRS Sustainability Disclosure Standards Reading guidance: The examinator informs in the beginning of the module which parts of the text-book and the standards that are course-literature.
Eilifsen, A., Messier, W.F jr, Glover, S.M., and Prawitt, D.W.
Auditing & Assurance Services.
Third International Edition. (2014) :
Mandatory
Reading instructions: ISBN 13 978 0 07 714301 5
Articles and case will be added at the start of the module, approximately 100 pages in total.
Umeå School of Business, Economics and Statistics USBE. Thesis writing in Business Administration. Thesis manual. (latest edition)
USBE Business Administration :
https://www.umu.se/en/student/usbe/thesis-and-degree-project-work/