This course covers both financial and managerial accounting theory, with an emphasis on the role of accounting information for decision making and control. Focusing on the needs of accounting information users (such as managers and investors), the course integrates the concepts of financial and managerial accounting into a series of economic analysis. Topics include, for example, value based management, budgeting, transfer pricing, and earnings management. Related to these topics, some current practices and problems will be discussed.

• Understand basic problems within an organization that are due to information asymmetries and divergent goals of principals and agents
• Learn about the role of accounting information systems to solve these problems within an organization
• Use management accounting information for performance evaluation (budgeting, transfer pricing, incentive schemes)
• Understand the economic role of financial accounting to reduce incentive problems between a firm and their stakeholders
• Understand the basic determinants of voluntary disclosure

written examination (60'), open book