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2023/2024  KAN-CCMVV2304U  Financial and Management Accounting in Creative Firms

English Title
Financial and Management Accounting in Creative Firms

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for cand.merc. and GMA (CM)
Course coordinator
  • Melanie Lucia Feldhues - Department of Accounting (AA)
Main academic disciplines
  • Managerial economics
  • Accounting
Teaching methods
  • Face-to-face teaching
Last updated on 16-02-2023

Relevant links

Learning objectives
The aim of the course is to enable students to
  • Analyse and explain the nature of different creative firms, understand how they are funded and outline the main features of appropriate control systems.
  • Apply knowledge of interpreting financial statements and ratios to evaluate and compare the performance of different types of creative firms using publicly available information. The student should be able to understand how the characteristics of particular (creative) firms will be reflected in their reporting.
  • Demonstrate an understanding of how creative firms are financed and how the financing models are changing in line with industry changes.
  • Evaluate and choose cost concepts and accounting techniques control system are relevant in the business models found within creative industries
  • Demonstrate an understanding of the link between financial accounting and managerial accounting to support decision-making and performance management in creative firms; especially in light of revenue uncertainty.
  • Apply project management techniques in creative firms (e.g., a film or video game production)
Financial and Management Accounting in Creative Firms:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
Assignment type Case based assignment
Duration 4 hours
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Winter
Aids Open book: all written and electronic aids, including internet access
Read more here about which exam aids the students are allowed to bring and will be given access to : Exam aids and IT application package
Make-up exam/re-exam
Same examination form as the ordinary exam
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Description of the exam procedure

The exam will be an open book exam based on the course syllabus and a case which will be made available to the students 14 days before the exam.

Course content, structure and pedagogical approach

The course extends the basic concepts of financial accounting and management accounting to an application to creative industries, using practical examples. The course will highlight which financial accounting techniques and funding and cash flow management techniques are of specific interest to creative business firms. The course will also deal with the management control system including cost management, budgeting and forecasting, project management, and performance measurement and management systems relevant in creative business processes.

Description of the teaching methods
The course consists of 12 classes. Teaching is blended between in large classes with a mixture of dialog-based lectures, presentations, discussions and assignments/cases, and online quizzes and videos (presenting examples as well as some lectures). The teaching makes active use of real-life cases, with managers from creative industry firms participating to workshops, to enable the student to apply the above described techniques and tools in the context of specific creative businesses. The students are encouraged to analyze the cases collaboratively and to deliver the assignments in groups.
Feedback during the teaching period
Written feedback is given via Canvas on all assignment case questions submitted by the due dates. This can be supplemented with oral feedback, particularly for group submissions. Furthermore, the course features online quizzes.
Student workload
Course activities including preparation 120 hours
Exam including exam preparation 90 hours
Expected literature
  • Bhimani, Alnoor; Horngren, Charles T.; Datar, Srikant M.; Rajan, Madhav V. (2012): Management and cost accounting. 5th ed. Harlow England, New York: Financial Times/Prentice Hall. Chapter 2.
  • Collier (2015), Accounting for Managers. Wiley & Sons. Chapter 7.
  • Grabner, I. (2014). Incentive System Design in Creativity-Dependent Firms. The Accounting Review, 89(5), 1729–1750.
  • Grabner, I., Klein, A., & Speckbacher, G. (2022). Managing the tTade-Off between Autonomy and Task Interdependence in Creative Teams: The Role of Organizational-Level Cultural Control. Accounting, Organizations and Society, 101(3), 101347.
  • Kaplan and Norton (2001), Transforming the balanced scorecard from Performance Measurement to Strategic Management, Accounting Horizons, 15(1).
  • Links to Annual Reports from a range of creative industries, some of which have been used as exam cases in earlier years, will be provided at the beginning of the course and will be used in teaching and assignments. The range of companies give the students the opportunity to take a deeper dive into companies that interest them.
Last updated on 16-02-2023