Course Objectives

The course consists of a business economics component and an accounts component which are equally weighted.

The course provides students with an elementary and fundamental knowledge of business-economics theory and methods, as well as a general survey of businesses as economic entities. The main emphasis is on practical business-oriented economic principles. The discussion is general and can be applied to all sectors and organisational units.

The course also teaches basic skills in accounting and balancing budgets. Main topics include accounting of financial transactions, the accrual of revenues and expenses and accounts. Emphasis is placed on demonstrating the relationship between the transactions and their influence on results and balance. The students should be capable of balancing ordinary annual accounts and managing profit.

Course Description

Topics covered (business economics analysis):

• Position of businesses within the economic system
• Role of the economy in businesses
• Income and expenditure theory
• Adaptation to various marketing systems
• Calculations and operational accounts
• Cost-, result - and volume analysis

Topics covered (accounting):

• Structure of accounts, standard framework and plan
• Registering business transactions
• Value-added tax, employer’s tax, deduction of tax and tax-payments
• Transaction principal, balancing principles and other basic accounting principles
• Writing off
• Other accruals and provisions
• General value-assessment rules for current assets and fixed assets
• Presentation of results and balance according to the Accounting Act

Learning Methods

4 hours of lectures per week and group-work.

Assessment Methods

One obligatory group-project; pass/fail. Final written examination, 5 hours. Students must receive passing marks on all parts of the assessment.

Minor adjustments may occur during the academic year, subject to the decision of the Dean