W- Accounting & Financial Management

Within a holistic consideration of organizational activities, the understanding of the principles of finance and accounting cannot be excluded. Accounting and Finance are core elements within and for any organization. Financial information on an organization is not only responsible for budgeting and resource allocation, but it also informs about viability and options for progress and development. Necessary investments, budgetary planning, marketing activities, and so on need permanent controlling and are just a few examples, which are relevant for competitiveness. They also have a decisive influence on profitability and long-term survival.

While financial managers need profound knowledge on interpreting and analyzing financial key data for making effective decisions, in general management, it is sufficient to understand the essence of financial key data. Therefore, no program of studies can neglect a module discovering what is delivered by the function of finance and accounting.

In this module, students are introduced to key elements of finance and accounting enabling them to draw essential conclusions on an organization’s performance and also with reference to the stakeholder and in particular shareholder satisfaction.