Pre-master Accounting, Auditing and Control
The pre-master Accounting, Auditing and Control prepares you for the specialisations within our MSc in Accounting, Auditing and Control.
This pre-master is designed for students with a background in economics, business economics, business administration or accounting that do not qualify for direct admission to any of the specialisations within the MSc in Accounting, Auditing and Control.
The Take-Off is the introduction programme for all new students at Erasmus School of Economics. The Take-Off will take place on Monday, 31 August 2020. During the Take-Off you will meet your fellow students, get acquainted with our study associations and learn all the ins and outs of your new study programme, supporting information systems and life on campus and in the city.
The course includes, but is not limited to the following topics:
- Basic bookkeeping techniques
- Purchase and sale of goods
- Depreciation of fixed assets
- Accounting for bad debts
- Long term liabilities
- Accounting for Inventories
- Statement of Cash Flows
- Financial Statement Analysis
- Importance of analyzing and managing costs (e.g. product costing systems, Job-Shop and batch production)
- Process Costing and Cost Allocation (e.g. Process-costing systems, joint costs, overhead)
This course follows on the course on descriptive statistics in Applied Statistics 1 (FEB11005) and prepares the ground for active scientific research in later courses (Methods and Techniques FEB12012, Research Project FEB12013, in seminar and thesis projects, and later in jobs requiring skills in doing and interpreting applied research).
The course treats statistical models and methods that are often applied in economics. The right method depends on the research question of interest and on the nature of the available data. The main topics are the following: testing, contingency tables, ANOVA, non-parametric tests, regression (simple and multiple, time series).
During the tutorials, exercises are solved and discussed, and tutorial points can be earned. In addition, students gain experience in applying statistics by means of software.
Finance 1: valuation
During this course we'll study the knowledge necessary to value a firm. The value of the firm influences the prices of its shares en determines the price paid for shares in case of mergers and acquisitions. From the perspective of the financial manager and the financers of the firm Finance 1: valuation will show how investment and financing decisions influence the value of the firm. Besides thinking in terms of classical rational profit maximization thinking, we'll address important developments in behavioural finance and sustainability as well.
Finance 1: valuation encompasses classes, tutorial sessions, webcasts and on-line exercises. During the weekly classes, teacher present knowledge. The tutorial sessions will be focused around real-life case studies, such that students understand how the knowledge is applied for real investment decisions, IPO's and take overs. The webcasts are short films wherein exercises will be discuss and teacher give additional information.
Issues in the methodology of economics, such as how unrealistic models can (and should) be and how we can appraise their explanatory power, and issues in ethics of economics, such as the goal of economic policy, but also inequality, distributive justice and the moral limits of markets, are discussed in the lectures. In five tutorials, ethical issues in business and in the market are discussed and analyzed. By active engagement with these topics, students develop a stronger moral sense and they familiarize themselves with theoretical frameworks that enable them to form their own considerate opinion.
Financial accounting topics:
- Accrual accounting
- Inventory accounting
- Tangible and intangible fixed assets
- Current assets and liabilities
- Revenue recognition
- Shareholders' equity
- Dilutive securities & EPS
- Accounting for income taxes
- Cash flow statements
Management accounting topics:
- Management Accounting and Control Systems
- Planning and decision making (e.g. budgeting)
- Evaluating and Managing performance (e.g. variance analysis, responsibility accounting, transfer pricing)
- Recent developments Management Accounting
The objective of this course is to develop students’ knowledge and understanding of important financial accounting topics, including goodwill, investment, current and non-current liability, pensions, and leases. This course continues where the Bachelor-2 course (Intermediate Accounting, FEB12007/FEB12007X) left off.
With respect to your previous classes in management accounting, this course offers a closer look into management accounting and control topics.
The Institute of Management Accountants (an U.S.-based institution) defines management accounting as "a value-adding continuous improvement process of planning, designing, measuring and operating nonfinancial and financial information systems that guides management action, motivates behavior, and supports and creates the cultural values necessary to achieve an organization's strategic, tactical and operating objectives." In accordance with the definition, we will examine various topics concerning management accounting and control discussed in literature and used by managers for decision management and decision control.
Why do students need to understand the context of Information Systems within enterprises?
- Information Systems (IS) have enormous strategic value so when they are not working even for a short time, an organization cannot function;
- The Life Cycle Costs (acquisition, operation, security, and maintenance) of enterprise systems is considerable;
- It is therefore essential to manage information systems properly. The planning, organizing, implementing, operating, and controlling of the infrastructures and the organization's portfolio of applications must be done with great skill;
- To obtain awareness of different types of Information Systems and different roles that different systems play in organizations;
- To gain awareness and knowledge of ERP, CRM, SCM and E-Commerce;
- To be able to recognize opportunities that are enabled by information technology and to be able to decide to what extent information technology is needed within an organization.
- To understand critical issues in Information Systems, such as security, project risks and outsourcing of Information Systems. Be able to identify these issues and deal with them.
- The course also helps students digest why most ERP systems do not live up to its acronym of planning resources for the enterprise. Students should be able to critically evaluate the following questions:
- What is ERP? What is EIS? How do People and Process come into Technology?
- What are the similarities and differences between ERP and EIS?
- How do Enterprise Systems affect Accountants and Economists?
- How can economic theory help explain the effects of information technology on organizations and value chains?
- What benefits have been realized by certain companies by implementing Information Technology?
- How can information technology be an enabler but also be an inhibitor for realizing an organization its strategy?
- What are advantages and disadvantages from new technologies as Big Data and Blockchain
Monetary economics is a very broad topic area that deals with the effects of money, monetary institutions, and monetary policy on macroeconomic variables such as economy output, inflation, interest rates, and exchange rates. In this course we discuss some key theoretical principles behind the monetary policy and the practical issues of its implementation by various central banks.
Among the possible topics are:
- What is money and what does it do?
- Interest rate policy of central banks and the effects on financial markets.
- The various transmission channels of monetary policy.
- Monetary policy rules and reaction functions.
- Understanding inflation. Why has price stability become the cornerstone of the modern monetary policy?
- Lessons for the monetary policy from the global financial crisis of 2007-2009
This course is an economics course (elective).
This course provides a thorough understanding of a number of key topics within the economics of taxation. The course is largely positive in its scope but also provides a few normative (i.e., prescriptive) insights.
The course addresses the following questions and more: Under which conditions is the laissez-faire market equilibrium efficient? How does taxation interfere with efficiency? Who carries the burden of taxation? How does this depend on individual rationality assumptions? How may income taxes help improve the distribution of resources? How does the optimal income tax differ from the one chosen by democratically elected officials? How might taxation help improve efficiency when dealing with externalities? What about internalities? What determines individuals’ decisions to evade taxes? And to what extent do governments compete for internationally mobile tax bases?
The goal is to understand both the traditional theory on each topic, as well as the state-of-the-art insights generated by current academic research. As such, the required literature for many of the topics consists of recent scholarly papers as well as textbook chapters.
This seminar is one of the most important parts of the bachelor program; it will take a large part of your time: 12 ECTS in 8 weeks is 42 hours of work per week on average. During the seminar a broad array of subjects will be presented dealing with recognition, measurement, presentation and disclosure of financial information. Subjects that are discussed are among others:
- General aspects of financial reporting, such as conceptual frameworks, information needs of users, international developments, accounting policies and earnings management;
- Recognition and measurement of specific items in the balance sheet and profit and loss account, such as tangible, intangible and financial assets, equity, provisions, and liablities;
- Special subjects, such as consolidation, mergers and acquisitions, foreign currency, accounting changes, financial instruments, leasing, segment reporting, environmental/sustainability reporting, cash flow statements, management discussion and analysis;
- Analysis of the annual financial statements of a public company.
- Students have to present papers, solve cases, prepare presentations and take part in the discussions.
This seminar focuses on the design and use of accounting information for decision making and decision influencing. The emphasis will be on understanding how managers can design and use accounting information to help the organisation achieve its objectives. Some of the topics that will be discussed are Performance measurement, Incentives, Earning Management,Value-Based Management and Accoutning for non-profits. In this seminar learning will occur trough active participation, class discussion, and self-discipline. To enhance this, the professor will assign each student to a team consisting of 2-4 students. Each team has to write a paper on one of the topics of the seminar, assigned by the professor. Each team will present their paper in the session on that specific topic. One of the other teams has to be the discussant team, and still another team is responsible for chairing the session and stimulate the discussion in class. Each team has to fulfill each of the different roles at least once. The professor will make a schedule at the beginning of the seminar that lists when each team has to perform a specific role. Please note that this seminar is one of the most important parts of the bachelor program. It will be very time-consuming: 12 ECTS in 8 weeks is, on average, 42 hours of work per week.