Accounting

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Accounting is the measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies. The institute currently offers the course Basics of Accounting, Financing and Investment. The institute is chaired by Lars Clarenbach.

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Course content

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Module 1: gives an introduction to controlling. The main functions of Controlling and the history of Controlling are discussed here.

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Module 2: gives an introduction to investment calculations. It is explained how to calculate the net present value, the final value and the annuity of an investment.

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Module 3: gives an overview about financial accounting and the accounting principles.

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Module 4: is about financial accounting, too. Shows what a balance sheet is and explains depreciation methods.

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Module 5: is about management accounting. Several types of costs are explained and the allocation of costs is shown.

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Module 6: is about cost accounting. Cost-type accounting, cost-centre accounting and cost-unit accounting are explained.

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Module 7: is about activity based costing, target costing and marginal planned cost calculation.

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Module 8: is about budgeting. Fixed, variable, continuous and zero-based budgeting are explained. Principles of the beyond budgeting philosophy are mentioned.

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Module 9: is about human resources controlling. It is an example how to apply controlling method to a certain problem.

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Module 10: is about plant controlling. This again is an example for the application of controlling methods.

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In the Case Study the student should be able to apply the learnt methods to questions in an example.

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