Study Guide

Learning outcomes

The student is able to
- explain the importance of cost accounting and budgeting for decision making
- use key performance indicators in the service development context
- analyse customer profitability
- develop value-based pricing

Teaching methods

This course includes lectures, workshops, individual assignments, writing and essay and working in teams on a chosen topic. All five modules are compulsory. Absence during the last two full days, 19.-20.3., must be compensated with an additional assignment.

This course is offered online in Zoom in spring 2021.

Location and time

Online Zoom sessions:

Thursday 4.2.2021 at 16.30-19.30 (evening session)
Thursday 4.3.2021 at 16.30-19.30 (evening session)
Friday 19.3.2021 at 9-16.30 (full day session)
Saturday 20.3.2021 at 9-16.30 (full day session, team presentations)

Learning materials and recommended literature

Suggestions, Management Accounting books:
Drury, Colin. Management and Cost Accounting
Gowthorpe, Catherine. Management accounting
Atrill, Peter. Accounting and finance for non-specialists.
There are many other accounting books in libraries and online. Find books on Management Accounting (not Financial Accounting). You need a basic book on management accounting for the orientation and module 1 assignments.

Articles:
Tenucci, Andrea and Laine Teemu, 2016. CIMA report, The role of management accounting in servitisation: https://www.cimaglobal.com/Research--Insight/The-role-of-management-accounting-in-servitisation/

Laine, T., Cinquini, L., Suomala, P., & Tenucci, A. (2013, June). Roles of accounting and control in New Service Development within Servitization–a literature review and research implications. In Proceedings of the 2013 Naples forum on service-service dominant logic, network & systems theory and service science (pp. 18-21). http://www.naplesforumonservice.it/uploads//files/Laine%2CCinquini%2C%20Suomala%2C%20Tenucci.pdf

Laine, T., Paranko, J., & Suomala, P. (2012). Management accounting roles in supporting servitisation. Managing Service Quality: An International Journal.
https://tutcris.tut.fi/portal/files/1025738/laine_management_accounting_roles_in_supporting.pdf

Laine, Teemu; Cinquini, Lino; Suomala, Petri; Tenucci, Andrea. Roles of accounting and control in New Service Development within servitization - a literature review and research implications.
http://www.naplesforumonservice.it/uploads//files/Laine%2CCinquini%2C%20Suomala%2C%20Tenucci.pdf

More articles, videos and podcast links will be given when the course starts.

Students workload

5 ECTS = 135 hours of student work
The course is divided into five modules. Estimated time required:

1. Orientation and Introduction to Management Accounting: 10 hours
2. Cost Accounting and Pricing (Excel assignments and discussion): 15 hours
3. Budgeting and Control (Excel budgets for cabin rental business): 35 hours
4. Essay: 40 hours
5. Team work, presentation, peer review: 35 hours

Content and scheduling

Thursday 4.2.2021 at 16.30-19.30 (evening session): Orientation and management accounting basics, info about the assignments
Thursday 4.3.2021 at 16.30-19.30 (evening session): Cost accounting and pricing, Excel workshop
Friday 19.3.2021 at 9-16.30 (full day session): Budgeting and control, Excel workshop
Saturday 20.3.2021 at 9-16.30 (full day session, team presentations)
Deadline for essay and budgeting assignment 18th April.

Further information for students

This accounting course is for students studying in different master's programmes. Students who have no background in accounting are also welcome, This course is about learning to "speak the language of accounting" which is the language of the management.

You will learn to explain the importance of cost accounting and budgeting for decision making, and you will learn to make Excel budgets for a cabin rental business.You will learn about different key performance indicators in the service development context, how customer profitability can be analysed, and you will develop your skills in cost accounting and pricing

Grading scale

H-5

Evaluation methods and criteria

The final grade for this course is a weighted average of your assignments. The weights are:
Orientation: pass/fail
Modules 1, 2 and 3 (Individual assignments): 40%
Module 4 (Individual essay): 30%
Module 5 (Team work): 30%

Evaluation criteria, satisfactory (1-2)

Student is able

Knowledge base:
To gather, process, produce and evaluate information widely. To use concepts of the area of expertise systematically.

Problem solving:
To solve problems in research, development and/or innovation activities.

Development:
To recognise and analyse focuses of development making use of the knowledge base.

Communication:
'To communicate clearly both orally and in writing.

Evaluation criteria, good (3-4)

Student is able

Knowledge base:
To gather, process, produce and evaluate information critically and widely making use of both national and international scientific sources. To use concepts of the area of expertise fairly.

Problem solving:
To solve problems in research, development and/or innovation activities by applying and combining information from different fields.

Development:
To create target-oriented, justified development plans considering the community.

Communication:
To communicate in a competent, clear and consistent manner both orally and in writing.

Evaluation criteria, excellent (5)

Student is able

Knowledge base:
To create a consistent framework/knowledge base making use of both national and international scientific sources in a critical analytic fashion.

Problem solving:
To solve demanding problems in research, development and/or innovation activities where new knowledge and competence is created as well as to apply and combine information from different fields.

Development:
To develop the activities of the competence area in a target-oriented and communal fashion

Communication:
To communicate convincingly both orally and in writing to audiences within and exterior to the field.