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Course Syllabus

Bachelor 2024/2025

Financial and Managerial Accounting

Type: Compulsory course (Digital Product Management)
Delivered by: Department of Financial Management
When: 2 year, 1, 2 module
Open to: students of one campus
Instructors: Yulia Leevik
Language: English

Course Syllabus

Full Syllabus

Abstract

Accounting is an intensive field, plays a significant and vital role in the economy. Every business or organization needs to keep a track of their activities, which helps them to measure the performance of the organization and take further frontiers to grow their business or prevent any risk or shortcomings. The field is divided into two segments: Financial Accounting and Management Accounting. Financial Accounting is the presentation of the financial stats of the company. This information is more important from an investment point of view for the outsiders. Management accounting is more about the internal matters of the company. Management accounting helps the owners and other managerial personnel define the costs, budgets, policies to optimize the earnings of the company. The decisions related to the operations and processes are based on this data.
Learning Objectives

Learning Objectives

  • The academic discipline "Financial and Management Accounting" is aimed at developing skills and knowledge of key concepts, rules (standards) and methods of accounting to understand information disclosed in financial statements and to evaluate a range of managerial decisions with appropriate accounting techniques.
Expected Learning Outcomes

Expected Learning Outcomes

  • Understand the essence of accounting terms and to use them properly
  • Understand the purpose, structure, and content of the financial reporting in the modern market economy
  • Explain the concepts of financial and management accounting and its importance for businesses
  • Have basic practical skills in financial reporting and interpreting accounting information
  • Identify and give examples of the basic manufacturing cost categories
  • Perform a cost-volume-profit analysis
  • Describe cost systems and compute variances, demonstrate the use of standard costs in flexible budgeting
  • Prepare a master budget and demonstrate an understanding of the relationship between the components
Course Contents

Course Contents

  • Topic 1. Financial statements and Business Decisions
  • Topic 2. Investing and Financing Decisions and the Accounting System
  • Topic 3. Operating Decisions and the Accounting System
  • Topic 4. Adjustments, Financial Statements, and the Quality of Earnings
  • Topic 5. Reporting and Interpreting Sales Revenue and Receivables
  • Topic 6. Reporting and Interpreting Cost of Goods Sold and Inventory
  • Topic 7. Reporting and Interpreting Property, Plant, and Equipment and Intangibles
  • Topic 8. Reporting and Interpreting Liabilities and Owners’ Equity
  • Topic 9. Statement of Cash Flows
  • Topic 10. Managerial Accounting and Cost Concepts
  • Topic 11. Job-Order Costing
  • Topic 12. Activity-Based Costing
  • Topic 13. Cost-Volume-Profit Relationships
  • Topic 14. Master Budgeting
  • Topic 15. Flexible Budgets and Performance Analysis
  • Topic 16. Standard Costs and Variances
  • Topic 17. Responsibility Accounting Systems
  • Topic 18. Pricing Products and Services
Assessment Elements

Assessment Elements

  • non-blocking In-class activity
    Written/Oral/SmartLMS. Individual or in small groups, in-class. Questions, exercises, discussions, presentations, trial tests, games. Non-blocking form of control.
  • blocking Final Exam
    The final exam includes questions and tasks on all course topics. All solutions must be accompanied by a demonstration of calculations, formulas, and a brief theoretical justification. Format: individual, written on paper, in-class, closed-book. Duration: 80 min. Blocking form of control.
  • non-blocking Midterm Test
    The midterm test is performed in the automatic verification format at the computer class of GSB HSE - SmartLMS. Individual, in-class, closed-book. Duration: 80 min. Non-blocking form of control.
Interim Assessment

Interim Assessment

  • 2024/2025 2nd module
    0.5 * Final Exam + 0.25 * In-class activity + 0.25 * Midterm Test
Bibliography

Bibliography

Recommended Core Bibliography

  • Collis, J. (2015). Management Accounting. [N.p.]: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1525045
  • Financial accounting : international student edition, Libby, R., 2023
  • Managerial accounting : international student edition, Garrison, R. H., 2024
  • Weygandt, J. J., Kieso, D. E., & Kimmel, P. D. (2017). Financial Accounting (Vol. Tenth edition). Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1639274

Recommended Additional Bibliography

  • BPP Learning Media (Firm). (2016). Foundations in Accountancy : Practice & Revision Kit: FFA, ACCA: Paper F3: Financial Accounting: for Exams From 1 September 2016 to 31 August 2017: Vol. Fifth edtion. BPP Learning Media.
  • BPP Learning Media (Firm). (2017). Foundations in Accountancy FMA : ACCA Paper F2: Management Accounting: for Exams From 1 September 2017 to 31 August 2018 (Vol. Sixth edition). London: BPP Learning Media. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1522341

Authors

  • LEEVIK YULIYA SERGEEVNA