Cost Accounting and Pricing in a Service Company (5 cr)

Learning outcomes

The student is able to
- introduce the principles of cost accounting
- apply cost accounting in pricing
- analyse the bases of profitability in business

Materials

Books and articles:

Vance, David E. (2002). Financial analysis & decision making: tools and techniques to solve financial problems and make effective business decisions. New York : McGraw-Hill. Chapters: 1,2, 12, 13, 15 and 16.

BarCharts, I. (2016). Accounting Terminology. Boca Raton: BarCharts, Inc.

J. Madegowda. (2007). Management accounting. Global Media.

Tiffin, R. (2007). The Finance and Accounting Desktop Guide: Accounting Literacy for the Non-financial Manager. London: Thorogood Publishing.

Tracy, J. A. (2008). Accounting for Dummies.

Sterling, M. J. (2008). Business math for dummies®. Hoboken (NJ): Wiley.

Barrow, Colin, et al. The Business Plan Workbook, Kogan Page, 2012. ProQuest Ebook Central

Barker, R. (2011). Short Introduction to Accounting.

Marriott, P., Edwards, J. R., Edwards, J. R. & Mellett, H. J. (2002). Introduction to Accounting.

Haber, J. R. (2004). Accounting Demystified. New York: AMACOM Division of American Management Association International.

Teaching methods

The student is able to
- introduce the principles of cost accounting
- apply cost accounting in pricing
- analyse the bases of profitability in business

Content scheduling

Contents

Management decision making
Group decision making
Business Simulation Game
Financial and management accounting
Financial statements
Income statement
Balance sheet
Cash flow statement
Revenue management
Budgeting
Market report
Operations report
Financial and operational ratios

Evaluation scale

H-5

Further information

Attendance:

The first lecture will be held in class as F2F teaching. The rest of the teaching will be held online. Since the sessions in Zoom/Teams require active development of the team's work, it is required that students participate in the sessions. This study unit implementation cannot be completed solely by distance learning without joining sessions held. Therefore, please note that absences influence one's learning outcomes and competence building.

The use of camera and microphone is required during the zoom sessions. Make sure that you are able to use the technical equipment needed and you are in a place, where you can use camera and microphone.

Laurea University of Applied Sciences Degree Regulations

Section 18 Participation in instruction and guidance

The studies and the teaching included in the studies are arranged as either study units or project studies. The studies are arranged in a manner that enables students to complete their studies in an appropriate order, without interruptions and effectively.

Students have the right and obligation to participate in the degree programme’s study units or projects in a manner that ensures that the learning outcomes are achieved. Compulsory attendance in a study unit must be specified and justified in the study unit’s implementation plan.

If a student does not intend to participate in a study unit they have been admitted to, they must cancel their enrolment with the teacher in charge of the implementation before the study unit begins so that another student next in the queue can take their place.

Students must be present for the first contact teaching session, or they must notify the responsible teacher of their absence to confirm they intend to participate in studies, Alternatively, the teacher can specify a different manner for the student to confirm that they intend to participate in the studies. The completion of these measures can be required within a week of the studies having begun. The application of the aforementioned approach requires that the teacher notifies the students accepted to the study unit of the practice and that the practice is specifically mentioned in the study unit’s implementation plan.

If the student has a justified reason for not attending the first contact teaching session or for not notifying the teacher of their intention to be involved in studies in the manner required by the teacher, the student must contact the responsible teacher to agree on participation in the studies. Their registration for the study unit will be rejected, of the student does not notify the teacher of being absent from the first contact teaching session or the reason for their absence cannot be considered justified, Another student who is in line for the study unit can be selected in their place.

If prior competence has been specified as a requirement for the completion of a study unit/project, the student should, if needed, demonstrate this competence before the study unit/project begins.