Course Description

The course provides an introduction to the fundamental principles of financial and management accounting. Students will acquire the basic knowledge needed to understand the structure and purpose of financial statements, interpret key accounting information, classify and analyze costs, and use management accounting tools to support managerial decision-making. The course is specifically designed for students with little or no prior background in accounting or business studies.  

Course Contents 

Introduction to financial accounting and the accounting information system 

Purpose, structure and interpretation of financial statements (Balance Sheet, Income Statement and Cash Flow Statement) 

Accounting equation: assets, liabilities and equity 

Relationship between financial accounting and management accounting 

Cost concepts and cost classification (fixed vs. variable, direct vs. indirect costs) 

Cost allocation methods and introduction to Activity-Based Costing (ABC) 

Cost-Volume-Profit (CVP) analysis and break-even analysis 

Contribution margin and its role in managerial decision-making 

Introduction to budgeting and performance measurement