Business Performance (Spring/Fall)

Course: Business Performance

Location: Vladivostok State University of Economics and Service, Department of Economics and Management

General Skills

• Financial Accounting;
• Managerial Accounting
• Public Speaking;
• Financial Management
• Data Analysis;
• Data Visualisation.

Course Description_________________________________________________

The course is aimed at studying the practice of business. Topics of training include the consideration of the skills required in entrepreneurship, definition of the basics of financial and management accounting, analysis of financial indicators, visualization of company performance and making management decisions based on them. Most of the course is devoted to practical exercises, which are seminars, laboratory work in Microsoft Excel, as well as workshops on business practices. A feature of the course is the case study that accompanies each topic. As a result of the course, students present a strategy for developing their business company. In game form, students simulate the first year of business development.

No preliminary knowledge is required to enter the course. However, it would help to get on track faster, if student has some background related to Accounting. It is expected that students would be ready to conduct their own business idea.

Course Objectives__________________________________________________

The goal of the course is to develop business management skills. These skills include public speaking, emotional and social intelligence, time management, financial and management accounting, MS Excel, data visualization, economic analysis, management decision making.

Grading___________________________________________________________

Grading system used:

Course Contents____________________________________________________

Topic 1: Introduction (2 hours – lecture, 7 hours – seminars)

The subject and methods of business performance. A career as an entrepreneur. Forms of business organizations. Types of activities performed by business organizations . Accounting and its use in business decisions. Accounting Principles, Concepts and Conventions. Types of Books to Manage Company.

Topic 2: Understanding Business Language (2 hours – lecture, 3 hours – seminars, 4 hours – workshops)

Assets, Liabilities and Owners Equity. Accounting Equation. Double Entries. The purpose of the ledger. The financial accounting process. Accounting Systems. Chart of Accounts.

Topic 3: Business Transactions (2 hours – lecture, 4 hours – seminars, 3 hours – workshops)

Types of transactions. Costs Differentiantion. Cost Volume Profit Analysis.  Relevant Costs and Benefits.

Topic 4: Preparing Financial Statements (2 hours – lecture, 7 hours – workshops)

Recording changes in assets, liabilities, and stockholders' equity. The accounting cycle. The journal. Nature and Purpose of Trial Balance. Limitations of the Trial Balance. Balance Sheet. The Profit and Loss Statement.

Topic 5: Analyzing Financial Results (2 hours – lecture, 2 hours – seminars, 5 hours – workshops)

Balance day adjustments and entries. Horizontal and vertical analyses. Financial stability ratios. Profitability ratios. Integral financial analysis. Economic efficiency.

Topic 6: Performing Business Results (2 hours – lecture, 7 hours – seminars)

Financial and accounting measures of performance. EVA as a target for operating managers. Integrating financial and non-financial performance measures (the balanced scorecard, the EFQM)

USE OF INFORMATION AND COMMUNICATION TECHNOLOGY: Projector, software for presentations (pptx format), Excel

Required Texts_____________________________________________________

1. Accounting and auditing, 2014: https://lib.rucont.ru/efd/310639
2. Construction Accounting & Financial Management. William Palmer, William E. Coombs, Mark A. Smith. 1999. McGraw-Hill Education
3. Christopher Nobes, Robert B. Parker, Robert Henry Parker ·Comparative International Accounting/ Prentice Hall/Financial Times. 2018. 603 p.
4. Accounting and Finance for Managers. Karunakar Patra. 2006. Sarup Book Publishers Pvt. Limited. 296 p.
5. Basic Principles of Cost and Management Accounting. G. S. Le Roux, W. A. Lötter. 2003. 167 p.
6. Accounting For Management and Decision Making. Prof. Dr. Ahmed Farghally Hassan.
7. Managing Business Performance. The Science and The Art. Umit S. Bititci. 2016. 312 p.
8. Factors Affecting Firm Competitiveness and Performance in the Modern Business World. Aspasia Vlachvei, Kostas Karantininis, Nicholas Tsounis, Ourania Notta. 2016. IGI Global. 358 p.
9. Data for Business Performance. Prashanth H Southekal. 2017. Technics Publications. 316 p.
10. Statistical Thinking. Roger W. Hoerl, Ronald D. Snee. 2012. Wiley. 544 p.