6 ECTS credits
174 h study time
Offer 2 with catalog number 4017117ENR for all students in the 1st semester
at
a (E) Master - advanced level.
- Semester
- 1st semester
- Enrollment based on exam contract
- Impossible
- Grading method
- Grading (scale from 0 to 20)
- Can retake in second session
- Yes
- Enrollment Requirements
- Om een inschrijving te kunnen nemen voor 'Algemeen boekhouden en kostprijsberekening' moet men ingeschreven of geslaagd zijn voor 'Inleiding tot boekhouden' indien dit opleidingsonderdeel deel uitmaakt van uw voortraject Bedrijfskunde.
- Taught in
- Dutch
- Faculty
- Faculty of Social Sciences & SolvayBusinessSchool
- Department
- Applied economics
- Educational team
- Marie-Laure Vandenhaute
(course titular)
Linde Kerckhofs
- Activities and contact hours
-
21 contact hours Lecture
19 contact hours Seminar, Exercises or Practicals
134 contact hours Independent or External Form of Study
- Course Content
This course aims to provide students with an understanding of various accounting branches, in particular financial accounting, auditing and management accounting.
The course consists of 4 parts. The first two parts focus on financial accounting. The first part elaborates on the accounting process or the preparation of the financial statements. The valuation principles according to the Belgian accounting law and the generally accepted accounting principles are central to this part. The most common transactions of a company are discussed and journalised with the required journal entries. In particular, fixed assets, debts, equity and provisions are given consideration. The second part looks at the end product of the accounting process, the financial statements. This section provides students with the basics of financial statements analysis. The focus is on the analysis and interpretation of statutory financial statements prepared under the current Belgian accounting law. Important analysis techniques to assess the financial condition of a company are discussed. The third part offers an introduction to auditing. The role and function of the external audit are discussed and insight is provided into the principles, procedures, practices and the reporting of the auditing process in accordance with the international auditing standards. The fourth part consists of an introduction to management accounting. The branch of management accounting is delineated. Basic terms, concepts and the cost classification possibilities are discussed. Cost allocation is considered and students learn how to determine the cost of goods manufactured and the cost of goods sold. Techniques for allocating indirect costs are briefly discussed. The cost-volume-profit analysis and the preparation of a master budget are explained.
- Course material
- Handbook (Required) : Boekhouden, Tweedelig handboek, theorie + vragen & oefeningen, Joël Branson en Diane Breesch, 7de, Die Keure, 9789048639052, 2020
Digital course material (Required) : (1) Video tutorials; (2) Model solutions of the exercises financial accounting; (3) Exercises and model solutions of the management accounting exercises; (4) PowerPointpresentations of the lectures on financial statement analysis and auditing, Canvas
Digital course material (Recommended) : PowerPoint presentations related to the video tutorials, digital exercises financial accounting, book chapters, academic papers, Canvas
Handbook (Recommended) : Jaarrekeninganalyse, D. Breesch, J. Branson en S. Ceustermans, Die Keure, 9789048633678, 2018
Handbook (Recommended) : Auditing, J. Branson, D. Breesch en K. Hardies, Die Keure, 9789048631827, 2017
- Additional info
The text book is normally available in the VUB bookshop. However, do not hesitate to buy the text book elsewhere (online).
Teaching Methods
- Lecture: collective contact-dependent moments during which the lecturer engages with learning materials
- Seminar, Exercises or Practicals (Practical): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
- Independent or External Form of Study (Self): independent study
This description of the teaching methods is indicative, in order to assess the expected study load:
DAY- AND EVENING STUDENTS
Lecture: 21 hours
- Introduction: 2 hours
- Financial Accounting: 5 hours
- Financial Statements Analysis: 4 hours
- Auditing: 6 hours
- Management Accounting: 4 hours
Practical: 19 hours
- Practice on the application of key concepts, methods and techniques by solving exercises with guidance of the teacher of the course: 15 hours
- Individual counselling (during consultation hours, via e-mail, on discussion forums or during the study guidance days): 4 hours
Self: 134 hours
- Solving quizzes on the digital learning platform to test the understanding of the theory and to prepare for the practical sessions: 8 hours
- Solving additional exercises on the digital learning platform to extend the learning: 8 hours
- Consulting additional study material and keeping track of the course material during the semester: 78 hours (at a rate of 3 hours per lecture hour and 1 hour per practical hour)
- Examination preparation: 40 hours (5 days of 8 hours)
- Learning Outcomes
-
General competencies
- The student can journalise the most common transactions of a company according to the double-entry bookkeeping technique and in accordance with the general accounting principles and the Belgian accounting legislation, and generate on this basis a balance sheet and an income statement.
- The student can explain the relationship between the balance sheet and the income statement.
- The student can interpret and analyse the effect of accounting choices (e.g. choice of valuation rules).
- The student can analyse and interpret data from financial statements in order to evaluate the financial position of a company.
- The student can explain and evaluate the financial audit function, the process and the underlying principles and procedures.
- The student explains the distinction between financial accounting and management accounting, describes and explains the importance of both accounting branches.
- The student classifies costs according to their use
- The student performs a cost allocation and determines the cost price of a product or a service.
- The student creates and interprets a cost-volume-profit analysis.
- The student creates and interprets a master budget
- Grading
-
The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.
Within the Written Exam category, the following assignments need to be completed:
- Written Exam
with a relative weight of 100
which comprises 100% of the final mark.
- Additional info regarding evaluation
Not applicable
- Allowed unsatisfactory mark
- The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.
Academic context
This offer is part of the following study plans:
Master of Management: Standaard traject (only offered in Dutch)