Managerial Accounting & Financial Management

• Number of credits allocated

• Name of lecturer / lecturers : Efstathios Stathoukos

• Description :

This is a very comprehensive course on the Financial function.

The course begins with an introduction to the Accounting Information Model. Then, the tools and the analysis techniques of Financial and Management Accounting are presented, as well as their use by the decision makers.

In the second part of the course, are presented the techniques of Financial Management with emphasis to Capital Budgeting, to Working Capital Management and to Corporate Finance.

• Prerequisites :

No one

• Module Contents ( Syllabus) :

a . The financial function

The Accounting Information System and Fianancial Management.

Aim and functions of Accounting. Distinctions of Accounting.

Principles of Financial Accounting.

b . The Financial Statements

The Balance Sheet (Assets, Liabilities, Shareholders’ Equity).

Profit & Loss Account-Income Statement (Revenues-Expenses).

Cash Flow Statement (Cash inflows-Cash outflows).

c . Financial Statement Analysis & Interpretation

The Financial analysis technique.

Interpretation of Financial Ratios.

Conclusions.

d . Cost Accounting

Introduction to Management Accounting.

Elements of cost, cost classification.

Costing systems.

e . Accounting for Decision Making

Costing based on cost variability.

Variable & Absorption/full Costing.

Applications : Break Even analysis & Short term decision making.

f . Accounting for Control

Accounting based on cost calculation timing.

Standard & Actual costing.

Applications : Budgetary Control & Variance Analysis.

g . Financial Management

Aim of Financial Management.

Financial posistion. Sources & Applications of Funds.

h . Investment Decisions

Time value of money.

Budgetary Planning (Fixed Assets Management)

Investment Appraisal.

Traditional Investment Appraisal methods.

Payback Period & Return on Investment (ROI)

Contemporary methods.

Net Present Value & Internal Rate of Rate.

i . Working Capital management

j . Financing Decisions

Financing/capital needs.

Sources of Funds.

Capital Structure.

Cost of Capital.

Contemporary financing tools.

k. Dividend policy

• Recommended Reading :

a ) Principal Reference :

1. Kantzos Konstantinos, Financial Statement Analysis, Interbooks,2002

2. Weston Brigham, Principles of Financial Management and Policy, Papazissis editions.

3. Dimitras Avg. – Ballas Ap., Management Accounting for Planning, Gutenberg, 2009

b ) Additional References :

1. Ciaran Walsh, Financial Ratios & Management, Patakis, 1997.

2. Garrison-Norren, Management Accounting, Kleidarithmos, 2006

3. Vasileiou – Iriotis, Financial Management. Theory & Practice, Rosili, 2008

4. G. Artikis, Financial Management: Investment Decisions, Interbooks, 2002.

5. G. Artikis, Financial Management: Financing Decisions, Interbooks, 2002.

6. Steven Silbiger, 10 days ΜΒ, Kleidarithmos.

• Teaching Methods :

Theory and the techniques are presented by the professor and the students participation is required.

Financial Analysis of an Athens Stock Exchange listed company.

Actual Management Accounting applications.

Actual investment project appraisal.

• Assessment Methods :

Class participation 10%

Final exam 90%

• Language of Instruction :

Greek

• Module Objective (preferably expressed in terms of learning outcomes and competences):

To help the students in understanding:

- the importance of the Accounting information and in obtaining the required skills in analyzing and interpreting Financial Statements as well as their application in decision making

- the use of Management Accounting information and particularly the Cost in the basic Management functions (Planning, Control and Decision Making).

- the advantages and disadvantages of the investment appraisal methods for correct investment decision making.

- the sources of finance available to the economic units.