Accounting is the process of identifying, measuring and communicating information to permit informed judgments and decisions by users of the information. Accounting – imperfectly – mirrors economic reality. Accounting accords a particular form of visibility to events and processes. Through such means, abstract notions of competitiveness and efficiency are made calculable and knowable. Accounting is the lingua franca of the financial world and impacts all aspects of management and financial decision making. All lawyers are faced with matters of business administration and business decision making and will be confronted with concepts of accounting. Business accounting is divided into financial accounting and management accounting. Financial accounting deals with the annual report, the balance sheet, the profit and loss account, the cash flow statement and themes as valuation of assets and liabilities and accounting conventions. Financial accounting refers to information describing the resources, obligations, and activities of an economic entity. Financial accounting information is designed primarily to assist investors and creditors including banks in deciding where to place their scarce investment resources. Management accounting deals with cost classifications, full costing and the relationship between costs of production, volume of sales and profit. Management Accounting involves the development and interpretation of accounting information intended specifically to assist management in running the business.
- 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;
- 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.
The following achievement levels apply with regard to the course:
- To introduce the concepts of financial and management accounting to lawyers;
- To enable to recognise specific financial and management accounting problems;
- To understand, interpret and apply financial and management accounting cases and methods in real world situations;
- To acquire the skills which are necessary to apply financial and management accounting practices
- A general insight of the main concepts of financial and management accounting involved;
- A general analytical and practical skill to apply financial and management accounting in practice;
The timetable of this course can be found in uSis.
Mode of instruction
Number of (2 hour) lectures: 5
Names of lecturers: Dr. D.H. van Offeren en dr. T.L.M. Verdoes
Required preparation by students: reading literature
Number of (2 hour) seminars: 5
Names of instructors: Dr. D.H. van Offeren en dr. T.L.M. Verdoes
Required preparation by students: in the weekly seminars, students will actively engage in presenting their knowledge. They need to prepare and present study problems from the textbook.
Other methods of instruction
Number of (2 hour) instructions:
Names of instructors:
Required preparation by students:
The assessment of this course is based on two elements:
Three test scores (20%). Students have the possibility to make three short tests during the seminars (probably in week 3, week 4 and week 5 of the course). Each test consists of approximately 20 multiple choice questions, provided in class. The two highest scores count. Grading: see course information guide. Absence or late entry (regardless of cause) of students will be graded as 0 (does not receive credit for the missed test). The scores of the tests are applicable to the final written exam and the resit.
Final written exam (80%). The final exam consists of questions and problems. The questions and problems are based on the text book and other materials that are used in class.
Areas to be tested within the exam
The examination syllabus consists of the required reading (literature) for the course, the course information guide and the subjects taught in the lectures, the seminars and all other instructions which are part of the course.
More information on this course is offered in Blackboard.
Obligatory course materials
McLaney E. en P. Atrill, Accounting: an introduction, sixth edition, 2012, Pearson.
Course information guide (pdf Blackboard)
Students have to register for courses and exams through uSis.
Co-ordinator: Dr. T.L.M. Verdoes
Work address: KOG, Steenschuur 25, 2311 ES Leiden, room B 3.07
Telephone number: 071 527 77753
Institute: Fiscal-economics department
Department: Centre of Business Studies
Room number secretary: B2.11
Opening hours: Monday-Friday 0.900-17.00
Telephone number secretary: 071 527 7851
Belangstellenden die deze cursus in het kader van contractonderwijs willen volgen (met tentamen), kunnen meer informatie vinden over kosten, inschrijving, voorwaarden, etc. op de website van Juridisch PAO.