Current Trends and a Minor in Accounting D, 30 Credits

Contents

This course covers topics related to financial reporting, how management accounting can be used to create value in companies, financial statement analysis and auditing.

Module 1. Research Methodology, 7,5 ECTS
Module 2. Advanced management accounting, 7,5 ECTS
Module 3. Advanced financial accounting, 7,5 ECTS
Module 4. Current Trends in Business Administration, 7,5 ECTS

Module 1.   Research Methodology, 7.5 ECTS

Expected learning outcomes (ELO)

Generic ELO:

Focus of instruction

Examination modes

Module 2. Advanced 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 organization’s value-creating operations. Management accounting and finance professionals directly support an organization’s 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:
After completing this module, the student should have:
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 the theoretical and research based knowledge in the area of management accounting;
• make the best use of their knowledge of primary contemporary management accounting techniques
• be well prepared for the varied and changing roles of the controller function.

Professional Skills to

• assess the role of information relating to the controller function in an organisation;
• communicate, negotiate and report financial and non-financial information within a management team;
• be able to act as a catalyst, facilitator and management accounting change agent in organisations.
• produce detailed and coherent reports (both written and spoken) in matters related to management accounting

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 activities–debates and panel discussions. Written work will take the form of homework assignments and written case analyses.

Class participation
This class depends on a student’s own participation. At this point of the Master’s 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 is due to the diversity of experience of the participants of this class.

Examination modes
Examination is based upon a written comprehensive individual exam and group assignments. A passing grade is required for each part of the module.

Module 3. 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 and are currently used by listed companies in around 120 jurisdictions around the world.

Expected learning outcomes
After completing this module, the student should be able to:•describe 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
• evaluate the credit risk of companies using financial statements.
• use accounting principles and theory in order to evaluate and criticize accounting standards
• analyze the contents of corporate responsibility reporting and other similar types of reports prepared by publicly listed companies.

Focus of instruction
This course module is presented through lectures and seminars.

Examination modes
Examination is based upon a written comprehensive individual exam and group assignments. A passing grade is required for each part of the module.

Module 4. Current Trends in Business Administration, 7.5 ECTS

Expected learning outcomes

Focus of instruction

Examination modes

Expected learning outcomes

See respective module.

Required Knowledge

University: Admitted to one of the following Master programs in Business Administration (Management, Finance, Marketing or Business Development and internationalization) at Umeå School of Business and Economics.

Form of instruction

See respective module.

Other regulations

This is a course at D-level (Advanced level) in the Masters’ program in Business and Administration at Umeå School of Business and Economics.