Swedish name: Financial- and Management Accounting D
This syllabus is valid: 2011-09-05 and until further notice
Syllabus for courses starting after 2011-09-05
Course code: 2FE092
Credit points: 15
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
This course provides an advanced overview of different issues related to management accounting and managerial control systems as well as financial accounting. Module 1. Value based management accounting, 7.5 ECTS Module 2. Advanced financial accounting, 7.5 ECTS Module 1. Value based management accounting, 7.5 ECTS According to the Institute of Management Accountants, management accounting is the internal business-building role of accounting and finance professionals, who design, implement, manage, and report on internal accounting systems that support effective decision support, planning, and control over the organizations value-creating operations. Management accounting and finance professionals directly support an organizations strategic goals. Management accounting is about creating value, not just measuring it. Management accountants are strategic financial management professionals who integrate accounting expertise with advanced management skills to drive business performance inside organizations. They serve as trusted partners to executives in all areas of an organization, offering the expertise and analysis necessary for sound business decisions, planning, and support. Management accountants monitor, interpret, and communicate operating results, evaluate performance, control operations, and make decisions about the strategic direction of the organization. They understand the business formula for delivering value to the customer, arriving at strategies for identifying, developing, marketing, and evaluating a product or service throughout its entire life cycle. This advanced management accounting course module builds on previous training in accounting from a value-based management perspective. The focus of contemporary management accounting is on the enhancement of shareholder value through customer-driven value creation. Students knowledge, insights, and analytical skills related to the way corporate managers design, and utilize planning and management control systems to implement strategies will be enhanced in this module. Techniques of the management control processes are studied and behavioral considerations involved in the use of these techniques are discussed. The student should also become aware of the varied and changing roles of the controller function and the management accountant. Expected learning outcomes By the end of the module students should have the knowledge and understanding to: describe the roles management accounting systems have in organizations; assess the consequences of management accounting system changes; have an ability to work with theoretical and research based knowledge in the area of management accounting; apply their knowledge of primary contemporary management accounting techniques be well prepared for the varied and changing roles of the controller function. Focus of instruction The developments of the management accounting subject, techniques and concepts are presented during lectures. Students will become familiar with quantitative issues through numerical examples, exercises and cases. They 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. Readings Requiring reading for the module includes cases, chapters, and articles contained in the assigned textbooks and supplementary materials. The lectures in the course module will be used to cover both conceptual and computational aspects of management accounting measurement topics. Class sessions will be organized around cases and team activitiesdebates and panel discussions. Written work will take the form of homework assignments and written case analyses. Class participation This class depends on a students own participation. At this point of the Masters curriculum, a substantial part of learning comes from other students. It is important and essential for this course module that each student brings in their own experience and expertise. In addition to attending class (which is required), students should be prepared to comment on assigned cases or articles and to discuss the analysis presented in class. Part of the excitement and the benefit derived from this module are due to the diversity of experience of the participants of this class. Examination modes Grading is based on a final exam, written cases and seminars. These activities are weighted in the following way: exam 60 %, cases 20 % and seminars 20 %. See also below. Module 2. Advanced financial accounting, 7.5 ECTS The main objective in presenting this module is to consolidate students understanding of the IFRS standards and students ability to utilize aspects of accounting theory to resolve major reporting issues. International Financial Reporting Standards (IFRS) have received increasingly favourable attention during the past years, especially after the European Union mandated the use of IFRS by all publicly held companies beginning in 2005. A large number of other countries are using or planning to use the IFRS-standards or equivalent standards. Expected learning outcomes On successful completion of this module, students should be able to: understand and apply the IFRS accounting rules in intermediate as well as more advanced situations. Examples of more advanced topics covered at the course module are: deferred taxes, revenues, investment property, financial instruments, pensions, share-based payments and impairment of assets (including impairment of goodwill) critique accounting choices from an ethical point of view identify places where there is accounting flexibility in the IFRS standards and evaluate the appropriateness of companies accounting policies and choices use accounting principles and theory in order to evaluate and criticize accounting standards analyze the contents of corporate governance reports, corporate responsibility reporting and other similar types of voluntary or involuntary reports prepared by publicly listed companies. Focus of instruction This course module is presented through lectures and seminars. Examination modes Grading is based on a final exam, written cases and a term-paper. These activities are weighted in the following way: exam 70 %, cases 10 % and the term-paper 20 %. See also below.
See respectively module.
University: Courses in Business Administration (75 ECTS) At Basic level (A-level) and Intermediate level (B-level) a minimum of 60 ECTS in Management, Marketing, Accounting and Finance courses. At least 15 ECTS Accounting (financial accounting, financial statement analysis or management accounting) as well as 7.5 ECTS in Finance. At the C-level (Bachelor), a minimum 15 ECTS. Language: Proficiency in English equivalent to Swedish upper secondary course English B (IELTS (Academic) with a minimum overall score of 6.5 and no individual score below 5.5. TOEFL PBT (Paper-based Test) with a minimum score of 575 and a minimum TWE score of 4.5). TOEFL iBT (Internet-based Test) with a minimum score of 90 and a minimum score of 20 on the Writing Section).
See respectively module.
Examination will be based upon the students active participation in seminars, a written comprehensive examination (tentamen), and successful completion of group or individual coursework as assigned. The following grading system will be used: Pass with distinction (Väl godkänd, Vg, 75% or more), Pass (Godkänd, G, 50% or more) Fail (Underkänd, U, less than 50%). To receive the grade Pass with distinction in the course, the student must have achieved at least 75% of the total of points in the separate modules or the equivalent Students who do not pass at the time of the normal written examination will be offered an opportunity to sit a further examination within 2-3 weeks. Beyond that, additional examination opportunities normally arise every academic year, one week prior to the start of the autumn term. In case of failure on seminar participation or individual and group assignments, compensating assignments must be completed in accordance with instructions given on each occasion. When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the director of studies no later than two weeks before the next examination opportunity. Rules and regulations concerning the production of academic texts and correct referencing will be applicable to all written assignments. Lectures are normally not obligatory. However attendance is expected because the lectures are designed to facilitate students towards achieving course specific learning objectives. In addition lectures often provide insightful explanations of, and can supplement and provide contrast to, the course litterateur and other relevant course materials. Student who has passed an examination can not redo the examination to get a higher grading. Grades on the course are awarded when students have passed all examinations and compulsory course elements. Academic credit transfer Academic credit transfers are according to the University credit transfer regulations.
This is a course at the D-level in a MSc-degree at Umeå University. The course can also be included in study programs in Business Administration and Economics at Umeå School of Business.
The literature list is not available through the web. Please contact the faculty.