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Regular version of the site
Bachelor 2022/2023

Financial Management

Area of studies: Economics
When: 4 year, 1-4 module
Mode of studies: offline
Open to: students of one campus
Instructors: Olesya Kondrakhina
Language: English
ECTS credits: 10
Contact hours: 112

Course Syllabus

Abstract

This course explores theories that have been used to shape external accounting and management accounting. We will look at theories that have been mobilized to theorise external accounting and management accounting in action or as found in practice. In addition, the course provides for more expansive and developed treatment of some areas, such as accounting for changing prices and current value systems. It also includes further appreciation of shifts in accounting principles and policies over time.
Learning Objectives

Learning Objectives

  • Part 1 of this course aims to develop students’ ability to critically evaluate financial accounting theories and their impacts on recent development in accounting practices. Part 2 addresses issues in management accounting and organisational control, including: financial and other controls, organisational structures, performance measurement and incentive systems, budgetary control and public-sector and non-profit financial management within the organisational and human behavioural context.
Expected Learning Outcomes

Expected Learning Outcomes

  • At the end of the course and having completed the Essential reading and activities, one should be able to: • critically assess the impact of positive and normative accounting theories and their applications in dealing with complex financial accounting issues such as alternative accounting conventions, conceptual framework and economic income approach. • discuss the demand and implications of financial information in capital market research
  • At the end of the course and having completed the Essential reading and activities, one should be able to: • evaluate the applications of sociological and organisational approaches to the study of accounting • evaluate issues arising from management control in its organisational context • discuss various approaches to performance measurement and control in various types of organisations, and devise and evaluate indicators of performance
  • At the end of the course and having completed the Essential reading and activities, one should be able to: • discuss contingency theory and its impacts on management control practices in organisations • discuss the ethical issues of using management control methods and its use in non-profit organisations.
Course Contents

Course Contents

  • General Information
  • Part I: Financial accounting
  • 1: Introducing accounting theory
  • 2: Economist’s interpretation of income measurement and capital measurement
  • 3: Accounting for changing prices/values
  • 4: Deprival value
  • 5: Positive/descriptive economistic theory of accounting
  • 6: Theorising accounting through an interpretive approach
  • 7: Critical accounting theory
  • 8: Theorising of accounting regulation I: normative/prescriptive theorising
  • 9: Theorising of accounting regulation II: positive/descriptive theorising
  • Part II: Management accounting
  • 10: Introduction to control systems – personnel controls, cultural controls, action controls and results controls
  • 11: Control system tightness and control system costs
  • 12: Designing and evaluating management control systems. Identifying financial responsibility centres
  • 13: A detailed look at planning and budgeting
  • 14: Incentive systems
  • 15: Financial performance measures and their effects
  • 16: Remedies to the myopia problem
  • 17: Using financial results controls in the presence of uncontrollable factors
  • 19: Management control in not-for-profit organisations
  • 18: Management control-related ethical issues
Assessment Elements

Assessment Elements

  • non-blocking HSE final exam
  • non-blocking Домашние задания
  • non-blocking Exam
  • non-blocking Midterm Mock exam
Interim Assessment

Interim Assessment

  • 2022/2023 2nd module
    0.45 * Exam + 0.35 * Midterm Mock exam + 0.2 * Домашние задания
  • 2022/2023 4th module
    0.5 * HSE final exam + 0.3 * 2022/2023 2nd module + 0.2 * Домашние задания
Bibliography

Bibliography

Recommended Core Bibliography

  • Advanced management accounting : CIMA: study text, , 2020
  • Intermediate accounting IFRS edition, Kieso, D., 2020

Recommended Additional Bibliography

  • Ataur Belal, & Stuart Cooper. (2018). Sustainability Accounting : Education, Regulation, Reporting and Stakeholders: Vol. First edition. Emerald Publishing Limited.
  • Flamholtz, E. G. (1983). Accounting, budgeting and control systems in their organizational context: Theoretical and empirical perspectives. Accounting, Organizations and Society, (2–3), 153. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.aosoci.v8y1983i2.3p153.169
  • Oncioiu, I., Cokins, G., Căpuşneanu, S., & Topor, D. I. (2019). Management Accounting Standards for Sustainable Business Practices. Business Science Reference.