Fundamentals of Business Administration & Economics (E)

The students are able to:
• Describe different business subareas
• Explain the fundamentals of marketing
• Explain the fundamentals of human resources management
• Explain the structure of a company and typical operational processes and the basic constitutive factors of a company.
• Recognize relationships in the sense of the various relationships between business functions
• Clearly differentiate central business terms from each other
• Explain the most important constitutional and functional corporate decisions.
• Handle fundamental management problems from an economic point of view
• Analyze decisions under uncertainty
• Develop strategic decisions on the basis of economic models
• Assess the impact of digital technologies and products on a company’s cost structure and the formation of market forms
• Explain the fundamentals of mapping business decisions in the accounting system.
• Explain basic concepts and subareas of accounting
• Understand the technique and internal structure of double-entry bookkeeping and assess the structure of an accounting system and the characteristics of different types of accounts
• Make simple business postings to balance sheet and profit and loss accounts and create posting records
• Identify the significant effects of business transactions on the balance sheet and income statement
• Explain task fields and solution approaches of cost and revenue accounting with its subsystems (cost element, cost center and cost unit accounting)
• Distinguish between the terms deposits, disbursements, income, expenses and income
• Explain the organizational structure of a cost accounting system and explain the main features of the main cost accounting systems
• Explain the systems of cost accounting (partial and full cost accounting)

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Overview and context analysis of the most important subareas in business administration

• Subject and fundamentals of business administration:
o Operational functional areas
o Business decision theory
o Fundamentals of management and ethics
o Fundamentals of Human Resources and organization
o Marketing fundamentals
• Fundamentals of business management:
o Constitutive company decisions such as legal forms, location decisions, types of mergers and acquisitions and choice of business segment
o Functional company decisions: Materials management, production management, marketing
• Fundamentals of business value creation processes and functions (value creation architecture and structure)
• Fundamentals of market-, process- and strategy-oriented management
• Microeconomics and the behavior of managers and companies
• Price and product policy of companies
• Elementary principles of game theory
• Company organization
• Market forms & market entry
• Decisions under uncertainty
• Behavioral economics
• Economy of digitization
• External accounting:
o Structure of the accounting system
o Fundamentals of operational accounting: Tasks, sub-areas and basic concepts
o Commercial accounting system: From inventory to opening balance sheet
o Double-entry accounting system: Posting business cases to inventory and profit and loss accounts
o Organization of bookkeeping (chart of accounts, sales tax, etc.)
o Principle of period purity and accruals and deferrals
• Internal accounting:
o Objectives and basic concepts of cost and revenue accounting
o Fundamentals of cost and revenue accounting: Tasks, components and subareas
o Structure of cost accounting (cost elements, cost centers, cost objects)
o Contribution margin accounting

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• Schmidt, M., B. Auer and P. Schmidt, 2012. Buchführung und Bilanzierung: Eine an-wendungsorientierte Einführung. Wiesbaden: Springer Gabler

Written exam

Blended Learning