Fundamentals of financial and management accounting

The following topics will be covered in the course:

• Financial Accounting topics:Double entry bookkeepingBalance sheet and Income statementAccounting conventions.
• Management Accounting topics:Cost terms, concepts, classifications, and estimationCost behaviour and Cost-volume-profit analysisActivity-Based Costing and Activity-Based ManagementJob and order costing, influence of costing system on profitJoint products and process costingService department costingDecision making (short term, relevant costs)Decision making (long term, cost-cash relation)Profit planning and budgetingSegment reporting, decentralization, transfer pricing

• Explain the relevant concepts related to financial accounting and cost management;
• Report the financial position formally;
• Implement various costing systems to obtain useful financial and cost-related information;
• Differentiate the profit/cost results when different methods are applied;
• Analyze the profit/cost information in business processes;
• Evaluate the costs and benefits based on appropriate analysis and use them to make short-term and long-term decisions.

You must meet the following requirements

• Registered for a degree programme other than
• HBO-TOP Applied Physics, Pre-Master

• "Cost management - strategies for business decisions", Wouters, Selto, Hilton, and Maher, International Edition, McGraw-Hill
• Financial accounting for decision makers", Atrill and Mc.Laney, Prentice Hall, 10th edition
• Extra obligatory literature and practice material and/or reader