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Financial Management



En, Ec

Admission Requirements

Similarly tagged 100-level courses. Students that do not meet this prerequisite should contact

the instructor regarding the required competencies before course allocation.


Accounting is the lingua franca of the financial world and impacts all aspects of management and financial decision making. Professionals in all fields of sciences whether working in research, industry or non-profit organizations will be confronted with concepts of financial management. Financial management is divided into financial accounting, management accounting and corporate finance. This course contains financial accounting and management accounting. Advanced financial management contains corporate finance.

Financial accounting and management accounting are the pillars of business decision making. Financial accounting refers to information describing the resources, equity and liabilities, and activities of an economic entity. Financial accounting information is designed primarily to assist investors and creditors including banks.
Investors and their advisers are concerned with the risk inherent in, and return provided by, their investments. They need information to help them determine whether they should buy, hold or sell the shares. Creditors and banks are interested in information that enables them to determine whether their loans, and the interest attaching to them, will be paid when due. Management Accounting involves the development and interpretation of accounting information intended specifically to assist management in running the business. The concepts of management accounting are applicable to a big or a small business entity, a not-for-profit-organization or a sole proprietorship.

Financial accounting deals with the annual report. The three basic financial statements the balance sheet, the profit and loss account and the cash flow statement are discussed as well as themes as the measurement of assets and liabilities, and accounting conventions. Management accounting deals with budgeting and management information. The relationship between cost of production, volume of sales and profit is analyzed. Budgets are used to help exercise control over the business to try to ensure that its objectives are achieved.

Course Objectives

  • Understand the basic concepts of financial and management accounting;

  • Recognise specific financial and management accounting problems;

  • Understand, interpret and apply financial and management accounting cases and methods in real world situations;

  • Able to perform and report a financial statement analysis;

  • Able to study relevant documents and research papers;

  • Demonstrate a critical and independent view when confronted with financial and managerial accounting issues, to reach his or her own conclusions, and present or report the findings.

Mode of Instruction

5 weeks (1, 2, 3 ,5, 6) consist of lectures of two hours and assignments and cases of two hours. In these sessions the focus is on the basics of management and financial accounting. Students have to prepare accounting questions and cases which will be discussed during the sessions.

In week 4 and 7 the meetings consist of presentations of scientific papers and annual reports. There will be a test consisting of multiple-choice before the presentations.


Assessment: Multiple-choice
Percentage: 15%
Deadline: Week 4

Assessment: Multiple-choice
Percentage: 15%
Deadline: Week 4

Assessment: Presentations
Percentage: 15%
Deadline: Week 4

Assessment: Presentations
Percentage: 15%
Deadline: Week 7

Assessment: Written exam contains cases and questions
Percentage: 40%
Deadline: Week 8


McLaney E. and P. Atrill, Accounting an introduction, 6/e Prentice hall, chapters 1-5, 8-12 (chapters 6-7 are needed for the presentations in week 4).

Two or three scientific articles needed for the presentations.

Annual reports of listed companies needed for the presentations.

Contact Information


Weekly Overview

Week 1: Atrill & Mclaney, chapters 1-2
Week 2: Atril & McLaney, chapter 3
Week 3: Atrill &Mclaney, chapters 4-5
Week 4 Mc Questions financial accounting (chapters 1-5), read chapters 6-7, presentations of financial statement analysis of an annual report disclosed by small listed companies
Week 5: Atrill & McLaney chapters 8-9.
Week 6: Atrill & Mclaney, chapters 10-11
Week 7: MC questions management accounting (chapters 8-11), presentations about scientific articles
Week 1-3, 5-6 contains lectures of two hours, and two hour sessions in which the questions and cases will be discussed. The relevant questions and cases cannot be announced because the 6/e of the book is not yet available.

Preparation for first session

Read chapter 1 and 2 Atrill &McLaney.