Business Economics

Aim

The course aims to give the students possibility to develope an orientation about the company´s general conditions, activity and to understand the environment a company operates in. Furthermore will the course discuss accounting, financial reporting and capital budgeting as well as provide students with basic skills in different product calculation methods, analyse and draw conclusions from the annual financial reports. After the course the students should be able to:

• explain what is necessary to start a business
• describe, explain, and on a fundamental level analyse, an annual report
• describe and explain the principles of accounting in a small company
• use basic product calculation method
• analyse and structure of economic problems
• communicate economic analyses and reasoning
• describe and explain the budget process

Content

The aim, organisation, and stakeholders of a company. Cost and revenue concepts. Cost accounting. Accounting, auditing, and reporting. Annual reports and analysis of the same. Interpretation of various forms of economic information. Capital budgeting. . Plan of profit and loss account. Corporate strategy. Practical application of concepts and tools.