Accounting and Controlling

Course Introduction

This course aims at making you familiar with firms’ financial statements and enabling you to read and analyze them to your professional benefit. This skill will make you a more effective manager because financial reporting is the “language of business”. As a manager, you are expected to communicate in this language. We will take this knowledge towards application in your daily work. Hence, you will learn to prepare, consume, analyze and interpret financial statements. Adopting a user perspective, we move beyond the technical aspects of financial reporting and preparing accounts. Instead, based on these fundamentals, we focus on the impact of a firm’s business activities on its financial statements, business prospects, and – ultimately – value. Much of the course discussion will be complemented by hands-on exercises in MS Excel, including an introduction to financial modeling. This course will have been successful if it convinces you that “accounting” is much more than a technical

Course Lecturer

Prof. Dr. Thorsten Sellhorn is Director of the Institute for Accounting, Auditing and Analysis at Ludwig-Maximilians-University (LMU) of Munich. Prior to that, he held the Endowed Chair of Accounting at WHU – Otto Beisheim School of Management, Vallendar. He studied and conducted research at the universities of Bochum, Wisconsin-Madison, Arizona-Tucson, Boston, and at Harvard Business School. Thorsten has been designing and teaching executive education programs for major international corporations and organizations including Bayer, Volkswagen, Henkel, Deutsche Bank, Sal. Oppenheim, RTL, the German CPA Institute, the German ministry of Finance, and the European Television and Media Management Academy for more than fifteen years. He has done consulting work in financial and managerial accounting for companies like Deutsche Post DHL, Daimler, Volkswagen and Borussia Dortmund. His research interests focus on International Financial Reporting Standards (IFRS), the role of accounting information in capital markets as well as accounting quality and earnings management. His research is published in leading international journals like Management Science, The Accounting Review, European Accounting Review, Review of Accounting Studies and Abacus. Thorsten is a co-author of a leading German textbook on international accounting, Internationale Rechnungslegung. He is president-elect of the European Accounting Association (EAA).

Note: All information is accurate for the 2018-2020 academic year and is subject to change for future classes