Business Management FT
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Introduction to Accounting and Finance

level of course unit


Learning outcomes of course unit

The students
• Know the fundamentals of mapping business decisions in the accounting system.
• Know and understand the basic concepts and subareas of accounting.
• Understand the technique and internal structure of double-entry bookkeeping.
• Can assess the structure of an accounting system and the characteristics of different account types.
• Can make simple business postings to balance sheet and income statement accounts and create posting records.
• Recognize the main effects of business transactions on the balance sheet and in-come statement.
• Are familiar with the principles of proper accounting and the valuation of balance sheet items.

Internal accounting:
The students
• Are familiar with the tasks and solutions of cost and revenue accounting with its subsystems (cost element, cost center and
cost unit accounting).
• Can differentiate between the terms payments - disbursements, income - expenses,
revenue - outlay
• Can describe the organizational structure of a cost accounting system and
explain its main features.
• Know the cost accounting systems (partial and full cost accounting)

prerequisites and co-requisites


course contents

External accounting:
• Structure of the accounting system • Fundamentals of operational accounting: Tasks, sub-areas and basic concepts
• Commercial accounting system: From inventory to opening balance sheet
• Double-entry accounting system: Posting business cases to inventory and profit and loss accounts
• Organization of bookkeeping (chart of accounts, sales tax, etc.)
• Principle of period purity and accruals and deferrals
• Generally accepted accounting principles
• Valuation of balance sheet items (fixed assets, current assets, maximum and mini-mum value principle) and valuation methods (FIFO, LIFO, HIFO, KIFO, fixed value method, etc.)

Internal accounting:
• Objectives and basic concepts of cost and revenue accounting
• Fundamentals of cost and revenue accounting:: Tasks, components and
• Structure of cost accounting (cost elements, cost centers, cost objects)
• Contribution margin accounting

recommended or required reading

Breidenbach, K., & Währisch, M. (2017). Buchhaltung und Jahresabschluss. 4. Aufl., München: Walter de Gruyter.
Buchholz, L., & Gerhards, R. (2016). Internes Rechnungswesen, Kosten- und
Leistungsrechnung, Betriebsstatistik und Planungsrechnung. Wiesbaden: Springer.
Coenenberg, A.G., Haller, A., Mattner, G., & Schultze W. (2018). Einführung in das Rechnungswesen: Grundlagen der Buchführung und Bilanzierung. 7. Aufl., Stuttgart: Schäffer-Poeschl.
Deimel, K., Erdmann, G., Isemann, R., & Müller, S. (2017). Kostenrechnung: Das Lehrbuch für Bachelor, Master und Praktiker. Hallbergmoos: Pearson.
Geirhofer, S., & Hebrank, C. (2016). Grundlagen Buchhaltung und Bilanzmanagement. 4, Aufl., Wien: Linde.
Schmidt, M., Auer, B., & Schmidt, P. (2012). Buchführung und Bilanzierung: Eine anwendungsorientierte Einführung. Wiesbaden: Gabler.
Wedell, H., & Dilling, A.A. (2018). Grundlagen des Rechnungswesens. 16. Aufl., Herne: NWB-Verlag.

assessment methods and criteria

• Final exam and
• Quiz

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

50 % of the event is covered by eLearning. A combination between online phases (inductive method for the independent acquisition of knowledge and the practice of tasks) and presence phases (deductive method, in which assistance is given in the learning process and knowledge is imparted via frontal lectures) is used.

semester/trimester when the course unit is delivered


name of lecturer(s)

MMag. Dr. Thomas Hirschmann

course unit code


type of course unit

integrated lecture

mode of delivery


work placement(s)

not applicable


Situm Mario
Prof. (FH) DDr. Mario Situm, MBA
Director of Studies Business Management
+43 5372 71819 147
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