Financial and Managerial Accounting
Prof. Niels Dechow, PhD
Students will learn how financial statements are structured, how to read them and how to produce both horizontal and vertical comparative analysis of these. They will know how to use management accounting information in order to segment customers and markets; how to differentiate relevant cost factors in a time-based dimension; and how to normalize cost flows. Both ends of this spectrum will be connected through an introduction to master budgeting processes. Students will know that even though there is no financial and managerial accounting without cost accounting, one cost system is not enough. They will know how to read financial statements selectively and to be critical about the assumptions made in the course of budgeting processes.