BEC-22806 Accounting

Course

Credits 6.00

Teaching methodContact hours
Lecture24
Practical24
Independent study0
Course coordinator(s)dr. ir. Y de Mey
Lecturer(s)dr. ir. Y de Mey
dr. J Sok
Examiner(s)dr. ir. Y de Mey

Language of instruction:

English

Assumed knowledge on:

Introduction to Business Economics or equivalent.

Continuation courses:

BEC-22306 Corporate Financial Management, BEC-20806 Financial Management in Agriculture.

Contents:

Accounting focuses on gathering and processing information for managerial decision making, stock valuation, profit calculation and financial reporting. The goal of this course is to give an extended insight into two key areas of accounting: management accounting and cost accounting. The main topics that will be covered are: cost assignment (traditional and activity based), decision making, budgeting and variance analysis, divisional performance measurement and transfer pricing. The course will also briefly cover the field financial accounting (financial reports).

Learning outcomes:

After successful completion of this course students are expected to be able to:
- explain the various functions of an accounting system in a company in identifying, measuring and communicating (both internally and externally) economic information;
- distinguish information in financial reports to evaluate the performance of an individual company;
- use relevant costing information from the accounting system for profit measurement and inventory valuation;
- use relevant costing information from the accounting system for various short and long-term decision making issues;
- apply budgeting and variance analysis to decompose profit deviations in a company;
- implement appropriate divisional performance measurement and transfer pricing concepts in order to ensure proper incentivisation in divisionalized (multinational) companies;
- understand the complex issues that arise when designing a company’s management control system.

Activities:

- lectures;
- computer practicals;
- group case studies;
- self-study.

Examination:

All learning outcomes are assessed in the final exam. The final exam consists of multiple choice questions (40%) and open questions (60%). Earned credits (up to a maximum of 1.0) from the casework are charged in the end-mark, however only in the exams of the academic year in which the credits were earned and only if the grade for the exam is at least 50% before rounding.

Literature:

- Handbook: Drury (2018). Management and cost accounting. Cengage Learning EMEA; 10th ed. ISBN 9781473748873 (print) or 9781473748903 (ebook). (Will be made available for purchase in the WUR shop. Older versions of the book (8th/9th editions) can also be used.
- Handouts and additional materials will be made available on Brightspace.
- A study guide will be available two weeks before the start of the course.

ProgrammePhaseSpecializationPeriod
Compulsory for: BBCManagement and Consumer StudiesBScA: Business Studies1AF
Restricted Optional for: MMEManagement, Economics and Consumer StudiesMScA: Business Studies1AF