6 ECTS credits
162 h study time

Offer 1 with catalog number 4012599ENW for working students in the 1st semester at a (E) Master - advanced level.

Semester
1st semester
Enrollment based on exam contract
Impossible
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Yes
Enrollment Requirements
Enrolling in 'Financial and Managerial Accounting' means that you simultaneously take 'Introduction to Accounting and Finance' or have successfully passed 'Introduction to Accounting and Finance'.​
Taught in
English
Faculty
Faculty of Social Sciences & SolvayBusinessSchool
Department
Business
Educational team
Filip Sans
Stefanie Ceustermans (course titular)
Activities and contact hours
18 contact hours Lecture
14 contact hours Seminar, Exercises or Practicals
130 contact hours Independent or External Form of Study
Course Content

This course provides a continued examination of the basic principles of financial accounting and provides an introduction to managerial accounting.  As regards to financial accounting, this course will specifically focus on receivables; plant assets, natural resources, and intangibles; investments; current liabilities and payroll; and corporations. We will study such accounting procedures as transaction analysis, journal entries, and balance sheet and income statement preparation. The fundamental accounting equation will be used a central guiding principle throughout the course in order to explain new concepts and analyze transactions. 

This course also introduces the fundamental concepts of managerial accounting. Managerial accounting focuses on the accounting tools managers use to run a business. The information provided by financial accounting is used to understand and apply the tools of managerial accounting.  Financial accounting focuses on the past, reporting on results of previous accounting periods. Since managers are required to make decisions about future operations, managerial accounting often requires forward-looking information. As regards to managerial accounting, this course will focus on topics such as job order costing, process costing, cost management systems.

Students will obtain a thorough grasp of the fundamentals of financial and managerial accounting.

Course material
Handbook (Required) : Horngren’s Financial & Managerial Accounting, T.L. Miller-Nobles, B. L. Mattison and E.M. Matsumura, 6de, Pearson, 9781292270746, 2018
Digital course material (Required) : Powerpoint presentations, Canvas
Additional info

Teaching Methods
- Lecture: collective contact-dependent moments during which the lecturer engages with learning materials
- Seminar, Exercises or Practicals (Practical): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
- Independent or External Form of Study (Self): independent study

This description of the teaching methods is indicative, in order to assess the expected study load.

Lecture: 18 hours (6 x 3 hours)

Practical: 14 hours

  • practicum:  12 hours (3 x 4 hours)
  • individual feedback: 2 hour

Self:  130 hours

  • keeping up with the course material  during the semester: 90 hours
    • theory, amounting to 3 hours per hour lecture: 54 hours (18 x 3 hours)
    • exercises, amounting to 3 hours per hour practical: 36 hours (12 x 3 hours)
  • preparation exam: 40 hours (5 days of 8 hours)
Learning Outcomes

Algemene competenties

After studying this course, students should be able to:

  • explain the differences between management and financial accounting;
  • understand the concepts and measurements that underlie financial statements;
  • record basic and advanced accounting transactions and prepare annual financial statements;
  • develop the skills needed to analyze and interpret financial statements;
  • describe fundamental concepts of managerial accounting;
  • define cost drivers an calculate cost behavior;
  • use cost-volume-profit analysis in decision taking;
  • set-up and use a scheme of cost allocation;
  • set-up and use accounting for overhead costs;
  • understand and implement job-costing and process-costing systems.

Grading

The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

  • Schriftelijk Examen_Theorie with a relative weight of 50 which comprises 50% of the final mark.
  • Schriftelijk Examen_Oefeningen with a relative weight of 50 which comprises 50% of the final mark.

Additional info regarding evaluation

Written Exam:

  • Theory with a relative weight of 50 which comprises 50% of the final mark;
  • Exercises with a relative weight of 50 which comprises 50% of the final mark.

The theory and exercise part might differ with regard to the amount and the structure of the questions.

Allowed unsatisfactory mark
The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context

This offer is part of the following study plans:
Master of Management: Standaard traject
Master of Linguistics and Literary Studies: Profile Profile Literary Studies
Master of Movement and Sports Sciences: Sports Policy and Sports Management Profile Profile Sports Policy and Sports Management (only offered in Dutch)