ØKB1110 Introduction to business economics and accounting

Contents and structure

Managerial Economics with Financial Accounting consists of two parts: Financial accounting and Managerial Economics.

In the part in accounting the students will learn to do simple accounting.

In Managerial Economics the students are to gain knowledge and skills in the provision, analysis and communication of relevant information for descisionmaking.

Learning Outcome

Students know:

• the purpose of a financial statement
• standard system of accounts
• the relationship between transactions and their impact on results and the balance sheet
• the concepts of expenses, costs, expenditures, revenues and payments, and stock
• the effect of changes in holdings
• economics role and position in the company and discuss the basic features of the managerial ecomomics of the business
• the cost concept and have a good understanding of cost variability
• about different principles of product calculation
• the basic preconditions for and shortcomings of the traditional methods of calculation

Students are able to:

• do the most common accounting transactions, including VAT
• conduct regular periodic postings
• conduct the accouting for the end of the year, simple annual report entries and allocation of profit in a sole proprietorship
• carry out cost, profit and volume analyzes
• conduct simple analyzes of optimal product selection in situations with limited access to resources
• prepare calculations after full cost and variable cost principle for companies 
• identify decision-relevant costs and income and be able to solve various decision problems
• find how businesses should adopt in relation to different market structures

 General Qualifications:

• The subject gives students a basis for further specialization in the area.

Entry requirements

None

Recommended previous knowledge

-

Teaching methods

Lectures, task seminars and exercises

Compulsory learning activities

No

Assessment

written exam, 4 hour, 100%

Grade scale A-F

Examination support material

The University College`s calculator (Texas TI 84) will be handed out

More about examination support material