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Master Finance, Accounting, Controlling, Taxation - Controlling & Digitalisierung (dreisemestrig)

Fast facts

  • Department

    Wirtschaft

  • Stand/version

    2021

  • Standard period of study (semester)

    3

  • ECTS

    90

Study plan

  • Compulsory elective modules 3. Semester

Module overview

1. Semester of study

Advanced Controlling & IT-Recht
  • PF
  • 4 SWS
  • 6 ECTS

  • Number

    952019

  • Language(s)

    de

  • Duration (semester)

    1

  • Contact time

    60 h

  • Self-study

    120 h


Learning outcomes/competences

a. Advanced Controlling
In an increasingly sustainability-oriented business world, transparent and high-quality information on sustainability aspects of companies is crucial. Due to the increased regulatory requirements for sustainability reporting, sustainability is essential for professional roles in controlling, accounting or management in addition to the classic financial perspective.
This course focuses on the application of relevant controlling tools to real business cases in the field of sustainability.
After successfully completing the course, students will be able to ...

Knowledge and understanding: 
  • (EU1) explain the systems and processes that underpin business decisions on sustainability issues 
  • (LO2) Describe the dimensions of corporate environmental, social and economic responsibility and identify measurement issues related to these dimensions 
  • .
Use, application and generation of knowledge: 
  • (EU3) Apply relevant controlling tools to real business cases in the context of sustainability
  • .
  • (EU4) Evaluate and further develop controlling systems, in particular including financial and non-financial controlling instruments.
  • Communication and cooperation:
  • (LO5) Analyze corporate sustainability reports and use them to present strategies, successes and shortcomings of sustainability performance in a way that is appropriate for the target group
  • Scientific self-image / professionalism: 
  • (LO6) critically reflect on the contribution of controlling to sustainable corporate management and develop their own professional positions in the area of conflict between economy, ecology and social responsibility
  • . b. IT law
    Students will be able to legally classify the manifestations of modern Business Studies in the area of the use of IT solutions and relate them to the conventional instruments of corporate law.
    Professional competence

    Knowledge
    • Students are already familiar with the basics of corporate law cases and their areas of application from their Bachelor's degree course. Building on this, students will be able to use specific cases to recognize the differences to conventional practical examples when IT applications are used.
    • The students are able to use the practical examples presented to apply the knowledge they have acquired in civil law and in particular in company law in order to find viable legal solutions. To this end, students will learn the concepts of contract law on the Internet, intellectual property protection and the European Union's digitalization strategy. This strategy is conveyed primarily through the connections between the Artificial Intelligence Regulation (AI Regulation), data law (Data Act) and, in particular, data protection (GDPR).  
    Skills
    • The students can recognize in practice in which IT-related situations certain problems occur that cannot be solved with the conventional instruments of civil law, especially corporate law.
    • The students can apply the case constellations they have learned to new phenomena in the field of IT use in practice and arrive at viable legal solutions.
    • The students can use the technical problems in a practice-relevant case to recognize the areas for which the law does not yet provide solutions and which approaches can be advocated here. Personal skills
      Social competence
      • Students develop their skills in developing case solutions through teamwork in order to develop different approaches to solutions by working on cases together. In the case of technical issues, students learn where to get what kind of support and what cooperation between different disciplines looks like.
      • Students are able to present solutions that have been created through teamwork in a results-oriented manner and present the results in such a way that even non-experts can implement them. Independence
        • Students can also deal with complex legal issues independently and solve them convincingly
        • .
        • Students can recognize how IT problems affect them in practice and how to deal with them legally
        • .
        • Students will be able to independently identify which developments could potentially lead to new legal issues in the future.

    Contents

    a. Advanced Controlling
    • Introduction to corporate sustainability
    • Measurement and control of sustainability performance
    • Concepts and tools for sustainability management
    b. IT law
    The course focuses on the problem areas that are generally regarded as the most important issues in the use of IT in business practice. For this purpose, current cases are used and future developments are taken into account.
    Fundamentals of IT law:
    • Basic concepts of IT law such as license rights, data protection law, copyright protection, ancillary copyrights, typical contractual services in software development, protection of machine data and database protection
    • Connections between the various legal acts of the European Union in the field of digitization
    • Selected use cases and typical legal issues
    Use cases in the use of IT:
    • Legal assessment of software transfer agreements
    • Copyright issues in software contracts and "big data"
    • Data protection issues under the GDPR and the BDSG
    • Protection of "machine data" and trade secrets
    • Legal problems with the use of artificial intelligence (AI)
    • Data sharing issues in connection with the data economy

    Teaching methods

    Seminar-based course with practical case exercises

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    The module examination consists of

    • Exam (100 %) (90 minutes)

    Requirements for the awarding of credit points

    Passed module examination

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    a. Advanced Controlling:

    Arjaliès, D.-L., & Mundy, J. (2013). The use of management control systems to manage CSR strategy: A levers of control perspective. Management Accounting Research, 24(4), 284–300. Link

    Bebbington, J., & Larrinaga, C. (2014). Accounting and sustainable development: An exploration. Accounting, Organizations and Society, 39(6), 395–413. Link

    Bhimani, A., Horngren, C. T., Datar, S. M., & Rajan, M. V. (2019). Management and cost accounting (Seventh edition). Pearson.

    Braun, K. W., & Tietz, W. M. (2023). Managerial accounting (7th ed). Pearson.

    Burritt, R., Schaltegger, S., Bennett, M., Pohjola, T., & Csutora, M. (Eds.). (2011). Environmental Management Accounting and Supply Chain Management. Springer.

    Christ, K. L., Dijkstra-Silva, S., Burritt, R. L., & Schaltegger, S. (2023). Sustainability management accounting – enabling macro-level sustainability transformation towards the United Nations Sustainable Development Goals. Meditari Accountancy Research, 32(3), 923–944. Link

    De Villiers, C., & Maroun, W. (Eds.). (2018). Sustainability accounting and integrated reporting (1st Edition). Routledge, Taylor & Francis Group.

    Gond, J.-P., Grubnic, S., Herzig, C., & Moon, J. (2012). Configuring Management Control Systems: Theorizing the Integration of Strategy and Sustainability. Management Accounting Research, 23(3), 205–223. Link

    Gray, R. (2010). Is accounting for sustainability actually accounting for sustainability…and how would we know? An exploration of narratives of organisations and the planet. Accounting, Organizations and Society, 35(1), 47–62. Link

    Hubbard, G. (2009). Measuring organizational performance: Beyond the triple bottom line. Business Strategy and the Environment, 18(3), 177–191. Link

    Hummel, K., & Bauernhofer, K. (2024). Consequences of sustainability reporting mandates: Evidence from the EU taxonomy regulation. Accounting Forum, 0(0), 1–27. Link

    Hummel, K., & Jobst, D. (2024). An Overview of Corporate Sustainability Reporting Legislation in the European Union. Accounting in Europe, 0(0), 1–36. Link

    Rimmel, G. (Ed.). (2020). Accounting for Sustainability (1st ed.). Routledge. Link

    Stolowy, H., & Paugam, L. (2023). Sustainability reporting: Is convergence possible? (SSRN Scholarly Paper 4380349). Link

    Wagenhofer, A. (2023). Sustainability Reporting: A Financial Reporting Perspective. Accounting in Europe, 0(0), 1–13. Link
     

    b. IT-Recht:

    Aktuelle Textausgaben des BGB, UrhG, MarkenG, TMG, DSGVO, BDSG

    Weitnauer et.al., Beck’sches Formularhandbuch IT-Recht, 6. Aufl. 2024

    Redeker, IT-Recht, 8. Aufl. 2023 

    Becker, Rechtliche Grundlagen und IT-Recht, 1. Aufl. 2018

    Hoeren, Skript Internetrecht, abrufbar unter:

    https://www.itm.nrw/wp-content/uploads/Skript-IT-Recht-Stand-Oktober-2019.pdf - ständig aktualisiert

    Kostenmanagement
    • PF
    • 4 SWS
    • 6 ECTS

    • Number

      95030

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    Students recognize that cost management is geared towards the active and conscious design of a company's cost and service relationships. They are aware that cost management is centrally integrated into corporate management. The students will be able to ventilate the basic conceptual elements of cost accounting and cost management. Furthermore, they understand analytical planning, control and influence in cost management areas. Students reflect on cost management in a systemic scientific and applied context and are familiar with the current state of research, including starting points for research requirements and investment needs in practice.

    2.1.2 Skills
    By understanding the interrelationships of cost management, students develop the ability and skills to use cost management instruments appropriately and professionally.
    Methodically, they can correctly process selected problems using subject-specific procedures and find a well-founded solution. They are able to interpret their mathematical results, critically analyze their significance and defend their own position in a self-reflective manner. Using selected examples, students will be able to relate individual techniques to a professional industrial environment and consulting practice and creatively demonstrate innovative potential.

    2.2 Personal skills
    2.2.1 Social competence
    • Students develop teamwork skills, which are supported by homework including presentation tasks
    • .
    • Students are able to coordinate and work on tasks in a goal-oriented manner.
    • They deepen their knowledge of a current topic in cost management by applying common methods of scientific work and acquire sound specialist knowledge of the content.You will be able to present team results in a complex and demanding environment, defend your own points of view and argue from different stakeholder perspectives. You communicate in a technically sound and convincing manner to the target group and are empathetic at the same time. 2.2.2 Independence
      • Students can develop a topic independently according to their personal abilities and structure it into practicable work tasks. By adopting an independent approach, they form conscious focal points that correspond to their inclinations, for which they are motivated and adopt an attitude.
      • They have the ability to understand Business Studies of various specialist functions in connection with cost management and controlling tasks in a decentralized and centralized manner.
      • They are able to derive their own viewpoints and attitudes towards existing theories, models and experiences and defend them in critical discussions.

    Contents

    In terms of content, the module focuses on the close connection between the mapping of business and cost accounting issues for the management of companies through reference objects in cost accounting and their design in cost management.
    The course consists of a more theoretically oriented (first) part and a more application/implementation-oriented (second) part, which is directly linked to the individual subject areas, e.g. through exercise phases. The core of the second part consists of a research seminar or a project seminar with a practice partner from urban society on modern cost management topics. These are explored in self-study, organized in group work, and critically discussed together with the auditorium in presentation phases in addition to a term paper.

    Cost management (SV with integrated exercise)
    • Basic statements on cost management
    • Overhead and fixed cost management
    • Process cost management
    • Process cost management
    • Project cost management
    • Product cost management

    Teaching methods

    Seminar-based course with interactive involvement of the students. Development of theoretical-pragmatic cost management content with integrated exercises and accompanying application-related case studies in self-study. Working through supplementary literature as part of self-study.

    The practical part of the module is reinforced by a guest lecture and digitization workshop by a renowned consulting company of the Stadtgesellschaft Dortmund.

    Participation requirements

    Formal: none
    Content: Basic knowledge of cost and activity accounting 

    Forms of examination

    • Exam at the end of the semester 90 minutes

    Requirements for the awarding of credit points

    Passed exam (written exam as well as semester performance.)

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Coenenberg, A.G.; Fischer, T. M.; Günther, T.: Kostenrechnung und Kostenanalyse, aktuelle Auflage, Stuttgart

    Fischer, T.; Möller, K.; Schutze, W.: Controlling - Grundlagen, Instrumente und Entwicklungsperspektiven, aktuelle Auflage, Stuttgart

    Franz, K.-P.; Kajüter, P. (Hrsg.): Kostenmanagement. Wertsteigerung durch systematische Kostensteuerung, aktuelle Auflage, Stuttgart

    Friedl, B.: Kostenmanagement, aktuelle Auflage, Stuttgart

    Haberstock, L.: Kostenrechnung II. (Grenz-)Plankostenrechnung mit Fragen, Aufgaben und Lösungen. Bearbeitet von Volker Breithecker, aktuelle Auflage, Berlin

    Hölzlwimmer, A.; Hahn, A.: Produktkosten-Controlling mit SAP, aktuelle Auflage, Bonn

    Kajüter, P.: Proaktives Kostenmanagement. Konzeption und Realprofile, Wiesbaden

    Weber, Jürgen; Schäfer, Utz: Einführung in das Controlling, aktuelle Auflage, Stuttgart

    Quantitative Methoden & Data Analytics
    • PF
    • 4 SWS
    • 6 ECTS

    • Number

      952018

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge
    • The students have a broad and integrated knowledge of multivariate analysis methods/econometrics/data science including the mathematical foundations and practical applications.
    • Students are familiar with model approaches from the above-mentioned areas for a variety of quantitative, business studies questions.
    2.1.2 Skills
    • Students are proficient in the advanced quantitative tools of multivariate analysis methods/econometrics/data science.
    • They can apply these methods to quantitative, Business Studies questions.
    • You can use the relevant software (e.g. Excel, SPSS, R, Python) to solve such problems.
    • They are able to embed the results in the appropriate Business Studies context.
    2.2 Personal competencies
    2.2.1 Social competence
    • Students develop teamwork skills by working together on tasks and case studies on the PC.
    • Students can present their solutions in a result- and application-oriented manner appropriate to the target group. 2.2.2 Independence
      • Students can deal independently with complex work and study contexts and design them in line with requirements.
      • They can independently develop complex issues in group or individual work.They have the ability to assess the relevance of statistical problems in a Business Studies context and to independently develop solution concepts.

    Contents

    • Multivariate analysis methods/econometrics/data science
      multivariate linear regression analysis (incl. dummy variables), analysis of variance, discriminant analysis, contingency analysis (e.g. CHAID analysis), cluster analysis, factor analysis, time series analysis
    • DV exercises on multivariate analysis methods/econometrics and data science
      Working on exercises and case studies on the PC with e.g. Excel, SPSS, R, Python

    Teaching methods

    seminar-based teaching, case studies

    Participation requirements

    Formal: -    
    Content:  knowledge of business mathematics and statistics from the Bachelor's program

    Forms of examination

    End-of-semester written exam (100%) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Auer, B.; Rottmann, H.: Statistik und Ökonometrie für Wirtschaftswissenschaftler, 3. Aufl., Heidelberg (Springer), 2014

    Backhaus, K.; Erichson, B.; Plinke, W.; Weiber, R.: Multivariate Analysemethoden, 15. Aufl., Heidelberg (Springer), 2018

    Backhaus, K.; Erichson, B.; Weiber; R.: Fortgeschrittene Multivariate Analysemethoden, 3. Aufl., Heidelberg (Springer), 2015

    Bühl, A.: SPSS: Einführung in die moderne Datenanalyse ab SPSS 25, 16. Aufl., München (Pearson), 2018

    Field, A.; Miles, J.; Field, Z.: Discovering Statistics Using R, London (SAGE Publications), 2012

    Grus, J.: Einführung in Data Science: Grundprinzipien der Datenanalyse mit Python, Sebastopol (O'Reilly), 2016

    Gujarati, D.: Econometrics by Example, 2. Aufl., London (Macmillan Education), 2014

    Hochstädter, D.; Kaiser, U.: Varianz- und Kovarianzanalyse, Frankfurt a. M. (Verlag Harri Deutsch), 1988

    Kabacoff, R.: R in Action: Data Analysis and Graphics with R, 2nd edition, Shelter Island (Manning Publications), 2015

    Rudolf, M.; Müller, J.: Multivariate Verfahren, 2. Aufl., Göttingen (Hogrefe), 2012

    Schlittgen, R.: Angewandte Zeitreihenanalyse mit R, 3. Aufl., Berlin (De Gruyter Oldenbourg), 2015

    Steinhausen, D.; Langer K.: Clusteranalyse, Berlin (Walter de Gruyter), 1977

    Advanced Accounting
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      951901

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    After completing the module, students will have in-depth knowledge of accounting in accordance with IFRS and HGB. They can critically assess the differences between the accounting standards (HGB and IFRS) and analyze them on the basis of different accounting theory concepts.

    2.1.2 Skills
    Students solve challenging problems of national and international accounting independently and in teams on the basis of legal texts/original standards and specialist literature. Technical papers are prepared and discussed in plenary sessions. In addition, students recognize the possibilities of influencing financial statements through accounting policy.

    2.2 Personal skills
    2.2.1 Social competence

    Students develop a feel for different accounting approaches and the resulting variations in the presentation of the company to external parties. They recognize the respective motivation of decision-makers in companies for individual accounting policy measures and the accounting policy strategy.


    2.2.2 Independence
    Students learn to independently determine and interpret the effects of different balance sheet approaches - based on the accounting standards HGB and IFRS.

    Contents

    In order to harmonize the knowledge of the course participants, the basics of accounting according to IFRS compared to accounting according to HGB are first developed. Based on this, essential theoretical principles of external accounting are presented. On this basis, the students deal with individual questions of external accounting according to HGB and IFRS, e.g. the accounting of equity or the preparation of a cash flow statement as part of the financial statements.

    Teaching methods

    Seminar-based teaching, group work

    Participation requirements

    Formal: none
    Content: Good basic knowledge of accounting according to HGB

    Forms of examination

    • Semester-accompanying partial performance (50 %)
    • Exam (50%) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Zur Wiederholung der Grundlagen der Rechnungslegung nach HGB: Breidenbach, Karin / Währisch, Michael: Buchhaltung und Jahresabschluss, De Gruyter 

    Zur Veranstaltung:

    Coenenberg, Adolf G. / Haller, Axel / Schultze, Wolfgang: Jahresabschluss und Jahresabschlussanalyse, Schäffer-Poeschel Verlag 

    Heuser, Paul J. / Theile, Carsten: IFRS-Handbuch, Verlag Dr. Otto Schmidt KG

    Pellens, Bernhard / Fülbier, Rolf Uwe / Gassen, Joachim: Internationale Rechnungslegung, Schäffer-Poeschel Verlag

    Tanski, Joachim S., Rechnungslegung und Bilanztheorie, Oldenbourg 

    HGB-Kommentare

    IFRS-Kommentare

    Fachzeitschriftenbeiträge

    Aktuelles Thema
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952091

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    Background: This compulsory elective module is intended to enable the head of degree program, in coordination with the Dean's Office, to approve special and usually one-off WPM courses on current topics, e.g. based on changes in the law, technological developments or economic situations ("crisis"). Such flexible offerings were requested by some subject groups and can also be considered across subject groups (e.g. business administration + economics or business administration + law). The offering of a compulsory elective module via participation in the Ruhr Master School (RMS) can also be provided as a "current topic". 
    The students know the context and the basic theories of the "current topic", develop possible solutions for the "novel" problem and  also practice innovative research methods, independent learning, group work and presentations.

    The course must be approved by the head of the degree program in consultation with the dean's office.

    Contents

    The content and form (seminar or block) of the courses must be specified in good time by the lecturers offering them and announced in a module description;

    Teaching methods

    Powerpoint-supported dialog-oriented events with practical examples.
    Accompanying compulsory reading of specified sources as well as independent research on current topics and practical problems or applications.
    Group work, moderated discussion, "learning by doing", independent preparation of papers, presentation of papers and group results under time restrictions.
    It is advisable to invite external experts to give lectures or to participate in the courses as lecturers.

    Participation requirements

    Formal: None
    Content: To be specified by the lecturer in each case

    Forms of examination

    Written exam at the end of the semester and, if applicable, an examination during the semester

    Requirements for the awarding of credit points

    Passed module exam and successful seminar performance during the semester

    Applicability of the module (in other degree programs)

    -

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Abhängig vom jeweiligen aktuellen Thema

    Aktuelles Thema: Tax Basics
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      9520911

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    Background: This compulsory elective module is intended to enable the head of degree program, in coordination with the Dean's Office, to approve special and usually one-off WPM courses on current topics, e.g. based on changes in the law, technological developments or economic situations ("crisis"). Such flexible offers were requested by some subject groups and can also be considered across subject groups (e.g. business administration + economics or business administration + law). The offer of a compulsory elective module via participation in the Ruhr Master School (RMS) can also be provided as a "current topic". 

    The students know the context and the basic theories of the "current topic", develop possible solutions for the "novel" problem and also practice innovative research methods, independent learning, group work and presentations.

    Course must be approved by the head of degree program in consultation with the dean's office.

    Contents

    The content and form (seminar or block) of the courses must be specified in good time by the lecturers offering them and announced in a module description.

    Teaching methods

    Powerpoint-supported, dialog-oriented events with practical examples.

    Compulsory reading of specified sources as well as independent research on current topics and practical problems or applications

    .

    Group work, moderated discussion, "learning by doing", independent preparation of papers, presentation of papers and group results under time restrictions.

    It is advisable to invite external experts to give lectures or to participate in the courses as lecturers.

    Participation requirements

    Formal: None

    Content: To be specified by the lecturers

    Forms of examination

    Exam at the end of the semester and, if applicable, an examination during the semester

    Requirements for the awarding of credit points

    Passed module exam and successful seminar performance during the semester

    Applicability of the module (in other degree programs)

    -

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Abhängig vom jeweiligen aktuellen Thema

    Finanzmanagement
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      951904

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    Students master the capital market theory models for determining the cost of capital. They understand the interdependencies between investment decisions, financing decisions, the cost of capital and firm value.

    2.1.2 Skills
    • Recognizing the relationship between risk and return
    • Evaluating investment projects against the background of risk-adequate capital costs
    • Identifying specific advantages and disadvantages of financing structures
    • Determination of optimal project financing taking into account taxes and insolvency costs
    • Application of specific project valuation methods
    2.2 Personal skills
    2.2.1 Independence
    • Solving a practice-oriented case study independently

    Contents

    Refresher on the basics of investment and financing (homework)
    • Fundamental principles in corporate finance
    • Risk and Return
    • Cost of Capital (levered and unlevered Firm)
    • Firm Value and Leverage
    • Project Valuation
    • Case studies on investment and financing decisions of IT companies

    Teaching methods

    The following forms of teaching are used for the course
    • Lecture with accompanying exercise
    • The lecture is conducted in interaction with the students with blackboard writing and projection
    for use.

    Participation requirements

    Formal: -
    Content: -

    Forms of examination

    • Exam (60 minutes) (75%) 
    • as well as an examination during the semester (25%)

    Requirements for the awarding of credit points

    Passed module exam and successful presentation

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management, M.Sc. Business Informatics

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Hillier, D. u.a. (2013): Corporate Finance, 2nd European Edition, New York (McGraw-Hill)

    Insurance & Corporate Risk Management
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952015

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    In this course, students should gain comprehensive knowledge of the risk management process and the instruments of risk financing and control in an insurance company in terms of systematic risk management
    . In addition to the basic processes of risk analysis and assessment, students will also become familiar with the specific risk management instruments of an insurer, in particular procedures for portfolio optimization, risk transfer through reinsurance and instruments for equity management and provisioning.

    2.1.2 Skills
    Students master the instruments of modern economically based corporate management models that simultaneously consider earnings and risk positions and can develop suitable solutions for practical application situations on this basis.
    The students
    • will be able to confidently apply the instruments of corporate risk management and place them in the overall context of the company
    • are able to work on selected problems methodically and correctly using subject-specific procedures and find a well-founded solution,can interpret mathematical results and analyze their significance,can relate individual techniques to a professional environment.
    2.2 Personal skills
    2.2.1 Social competence

    The students
    • develop, communicate and create a problem solution for risk management processes and the instruments of risk financing and control in an insurance company
    • discuss and communicate the various methodological approaches critically, varying the degree of complexity
    • develop a feel for the different actors involved in the risk management process
    • learn to reflect critically on decisions
    2.2.2 Independence
    The students are able to
    • perceive the appropriate quantitative networking of the risk management process with systems of performance measurement and evaluation commonly used in insurance companies
    • .
    • review changes in risk management in terms of their relevance without the support of third parties and classify problems in practice
    • discuss the basic principles and various methods with a degree of complexity appropriate to the respective discussion situation

     

    Contents

    In this course  we develop instruments for profit and risk management in an insurance company on the basis of modern capital market-based risk models. The instruments of portfolio management, liability capital management, provisioning and reinsurance, which are central to the management of an insurer's risk positions, are covered. Instruments of alternative risk transfer to the capital markets via insurance linked securities are also covered. The following key topics are covered.
    • General risk management approach
    • Quantitative risk models
    • Risk management instruments and risk financing
    • Reinsurance and alternative risk transfer
    • Risk capital models as an ERM model

    Teaching methods

    Multifunctional: lecture, discussion, exercise, case studies, self-study/homework.

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    Up to 50% during the semester (exercises, group work, presentations, case studies/homework), remainder: examination at the end of the respective course.

    Requirements for the awarding of credit points

    Passed exam 

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Farny, Dieter: Versicherungsbetriebslehre, Karlsruhe 2011

    Harrington;Niehaus: Risk Management and Insurance, Irwin/McGraw-Hill, 2003

    Hoffmann, Klaus: Risk Management, 1985, VVW Karlsruhe

    Liebwein, Peter: Klassische und moderne Formen der Rückversicherung, Karlsruhe 2009

    McNeil,A.,Frey,R.,Embrechts,P.: Quantitative Risk Management, Princeton 2005

    Nguyen, Tristan:Handbuch der wert- und risikoorientierten Steuerung von Versicherungsunternehmen, Karlsruhe, 2008 

    Rejda, G., McNamara, M.: Principles of Risk Management and Insurance, Boston 2013

    Romeike, F., Müller-Reichert, M.: Risikomanagement im Versicherungsunternehmen, Weinheim, 2005

    Schradin, Heinrich, R.: Erfolgsorientiertes Versicherungsmanagement, Karlsruhe, 1994

    Wagner, Fred: Risk Management im Erstversicherungsunternehmen, Karlsruhe 2000

    Vanini, Ute: Risikomanagement Grundlagen, Instrumente, Unternehmenspraxis, Stuttgart, 2012

    Wolke, Thomas: Risikomanagement, München 2008

    Macroeconomics and Finance
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952011

    • Language(s)

      en

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies
    2.1.1 Knowledge

    The Students can
    • describe and evaluate international environments faced by investors,
    • apply the latest state of knowledge regarding the application of practical empirical models for asset allocation,
    • interpret qualitative and quantitative data and present appropriate and coherent recommendations based on this.
    2.1.2 Skills
    The Students can
    • detect and identify risk on international markets based on macroeconomic analysis
    • use data techniques to analyze market risks and outlooks
    • apply sophisticated quantitative tools for data analysis in different economic settings
    2.2 Personal Competencies
    2.2.1 Social Competencies

    The Students can
    • lead and coordinate teams in a results-oriented fashion,
    • present and prudently defend team results in a complex and demanding environment,
    • improve cooperation among human resource in projects and organizations based upon appropriate policies and strategies
    2.2.2 Autonomy
    The Students can
    • work out independent projects and ideas and can do what is necessary to carry out a sustainable management initiative.

    Contents

    The course is aimed to take the perspective of an international investor operating on international capital markets. The perspective follows a "top-down" approach. Therefore in the first part macroeconomic models are presented. These serve as a basis to describe and evaluate the conditions on international capital markets. In the second part practical projection and portfolio approaches are being presented. Based on these prerequisites international asset pricing techniques are developed.

    Topics include
    • Macroeconomic environment of capital markets
    • International linkages between markets and economies
    • Bond markets
    • Stock markets
    • International currency markets
    • Diversification/International portfolio selection
    • Projection of asset returns
    • Practical models for asset allocation
    • Examples of statistical models applied in asset allocation
    • Examples of current comments and analysis of capital markets
    The course aims both to familiarize students with influential papers and current research, and to promote new research ideas in the area.

    Teaching methods

    Lectures incl. practitioners' best practices, Case studies, (Short) presentations, Results-oriented presentations in oral and written form

    Participation requirements

    Formal: -
    Knowledge and Competencies: Statistics, Macroeconomics, Theory of capital markets/Investment Theory

    Forms of examination

    • written exam (50%)
    • presentation based on article (50%)

    Requirements for the awarding of credit points

    Successful completion of examination (individual / group)

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Mishkin, Frederic: „Economics of Money, Banking, and Financial Markets“

    Krugman/Obstfeld/Melitz, „International Economics“

    Cuthbertson, Nitzsche: „Quantitative Financial Economics“

    Literature and papers cited in the lecture

    Projektorientiertes Studium
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952099

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    The project-oriented study program serves to work on a comprehensive problem with reference to a typical project issue. The aim is to deepen the ability to apply the content learned during the course and to use it efficiently to solve practical problems and to evaluate the results achieved.

    2.2 Personal competencies
    2.2.1 Social competence

    Practical experience is accompanied by intensive collaboration in teams. The groups are largely responsible for their team and learn to work together on complex problems in a project-oriented manner
    .
    2.2.2 Independence
    Students are able to work on project topics under supervision with increasing independence and autonomy.

    Contents

    The content and form (seminar or block) of the course must be specified in good time by the lecturers offering the course and announced in a module description;

    Teaching methods

    Project-related coaching is provided, accompanied by additional counseling from the responsible lecturer. The organizational procedure will be announced in good time.

    Participation requirements

    Formal: None
    Content: To be specified by the lecturer in each case

    Forms of examination

    The examination form and weighting will be announced in good time. The following forms of examination are possible:
    • Semester-accompanying partial performance 
    • Exam 
    • Presentation
    • Combination of the listed forms of examination

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Veranstaltung muss von der Studiengangsleitung in Abstimmung mit dem Dekanat genehmigt werden!

    Steuermanagement I (VAT & Corporate Tax)
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      951903

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    The students
    • have in-depth knowledge of national and international VAT law
    • know and understand the basic taxation of corporations and their shareholders across all tax types
    • have in-depth knowledge of the impact of taxes on business decisions
    2.1.2 Skills
    The students can
    • show the system of value added tax and direct taxes for corporations
    • solve specific tax problems in connection with value added tax and corporation tax
    • assess tax-relevant issues and structure them in a tax-optimized manner from a business perspective
    2.2 Personal skills
    2.2.1 Social skills

    The students
    • develop team skills that are supported by partner and group work during the lecture
    • are able to prudently present and defend their team results in a complex and challenging environment
    • practice the acquisition of a fact-based discussion culture
    2.2.2 Independence
    The students are able to
    • deal independently with legal texts, administrative instructions, case law and specialist literature
    • apply acquired concepts to new problems and solve them independently

    Contents

    a. Value added tax
    • Company status
    • Taxable item for domestic supplies: taxable turnover
    • Taxation of cross-border supplies of goods and services
    • Tax exemptions
    • Sale of the business as a whole
    • VAT within the group and holding companies
    • Pre-tax deduction and input tax entitlement
    • VAT compliance
    b. Taxation of corporations
    • Taxation of company and shareholder
    • External shareholder financing
    • Treatment of losses of the corporation (in particular in the event of a change of shareholder)
    • Corporate income tax and trade tax group

    Teaching methods

    Seminar-style lecture, supplemented by group work;

    Participation requirements

    Formal: none
    Content: Solid knowledge corresponding to a 4 SWS basic course from the Bachelor (e.g. the course "Taxes" in the Bachelor of Business Administration)

    Forms of examination

    Written exam at the end of the semester (90 minutes)

    Requirements for the awarding of credit points

    Passed module exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Jeweils aktuellste Auflage:

    Englisch in Tipke/Lang, Steuerrecht, § 17

    Meissner/Neeser: Umsatzsteuer 

    Niehus/Wilke: Die Besteuerung der Kapitalgesellschaft

    Dötsch/Alber u.a.: Körperschaftsteuer

    Wertorientierte Unternehmensführung
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952012

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    Students know the central importance of corporate value for the long-term successful management of the company as well as the objectives and principles of value-based management. They will be familiar with the range of value-enhancing strategies and measures for the company as well as the key performance indicators and methods used in their development and implementation. Against the background of the requirements of the company's shareholders and stakeholders, students comprehensively incorporate corporate controlling into their analysis and design activities.

    2.1.2 Skills
    Based on the objectives and principles of action of value-based management, students design and analyze comprehensive value-enhancing strategic concepts for the company and recognize the requirements and consequences (which may change over time) for the various functional areas and fields of action of the company in a problem-oriented manner; in this context, the control variables and methods of value-based management are appropriately assessed with regard to their performance and accurately applied to realize sustainably successful action concepts.

    2.2 Personal competencies
    2.2.1 Social competence

    Students deepen their skills in the area of leadership and teamwork (particularly with regard to communication and social skills). They recognize the usually cross-functional or cross-divisional consequences of the successful implementation of value-based management throughout the company (often in the context of a principal-agent constellation) and design an incentive structure for those involved that balances interests on the basis of appropriate analyses.

    2.2.2 Independence
    Students independently reflect on and assess the content-related and methodological quality of fundamental strategies and control parameters of value-oriented corporate management. Due to their application-oriented knowledge - reinforced by working on cases - students are able to make modifications to established management variables and methods and, if necessary, develop new management concepts so that solutions appropriate to the situation can be realized. They are also able to critically evaluate the general effectiveness of value-based management in comparison to competing approaches to corporate management and in interaction with complementary concepts and to draw the right conclusions from this in an application-oriented manner.

    Contents

    The course teaches the fundamental strategic and operational elements of value-oriented corporate management in terms of analysis, planning and implementation:
    • Principles and target systems of value-oriented corporate management
    • Share and stakeholder value as reference values
    • System of value-enhancing strategies for the company (including differentiation according to reference levels)
    • Value drivers and value driver models
    • Balanced scorecard as a comprehensive analysis and design concept
    • Control and management variables of value-oriented corporate management (e.g. economic value added, operating profit, discounted cash flow): Concept, operationalization, meaningfulness and information requirements
    • Consequences for the company's functional areas and fields of action (operational implementation of value-based management)
    • Role of corporate controlling as a management system
    • Value-based incentive design in the company
    • Process-related and structural perspectives of value-oriented corporate management
    • .

    Teaching methods

    Seminar-style teaching with project work and case studies

    Participation requirements

    Formal: none
    Content: Basic knowledge of corporate management, organization, controlling, HR management as well as corporate accounting and financing

    Forms of examination

    The module examination consists of several partial performances
    • Semester-accompanying partial performance (50%)
    • Exam (50%) (60 minutes)

    Requirements for the awarding of credit points

    Passed module exam and examination during the semester

    Applicability of the module (in other degree programs)

    M.A. Business Management, M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Büchler, J. P. (2014): Strategie entwickeln, umsetzen und optimieren. München/Hallbergmoos, 2014

    Coenenberg, A. G./Salfeld, R./Schultze, W. (2015): Wertorientierte Unternehmensführung, 3. Aufl., Stuttgart 2015.

    Copeland, T./Koller, T./Murrin, J. (1998): Unternehmenswert. Methoden und Strategien für eine wertorientierte Unternehmensführung, 3. Auflage, Frankfurt/ Main 2002

    Faix, A. (2019): Auswahl von Verfahren zur Wertbestimmung. Beitrag zur Umsetzung einer Wertorientierten Unternehmensführung, Arbeitspapier, Dortmund 2019 DOI: (10.13140/RG.2.2.34666.77764).

    Firk, S./Wolff, M. (2018): Wertorientierung kann sich lohnen, in: Controlling & Management Review, Heft 2, 2018, S. 52 – 56.

    Hahn D./Taylor, B. (2006): Strategische Unternehmungsplanung – Strategische Unternehmungsführung, 9. Aufl., Heidelberg, 2006

    Herter, R. N. (1994): Unternehmenswertorientiertes Management, München 1994

    Rappaport, A. (2006): Ten Ways to Create Shareholder Value, Harvard Business Review, Sept. 2006.

    Stern, J. M./Shiely, J. S./Ross, I. (2001): The EVA Challenge, New York u.a. 2001

    Stewart, G. B. (1999): The Quest for Value, 2. Aufl., New York, 1999

    Wirtschaftsprüfung I & Gesellschaftsrecht
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      952017

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    a. Auditing I
    In a world characterized by uncertainty and accounting scandals, reliable information is crucial for making informed decisions. Auditing supports reliable financial reporting and thus promotes confidence in the global market economy.
    This course provides students with the fundamental knowledge they need for their professional careers - regardless of whether or not they go on to work in auditing themselves. Students will learn why an understanding of auditing is valuable for many roles in accounting, controlling and management.

    After successfully completing the course, students will be able to ...

    Knowledge and understanding
    • (LO1) explain the concept of auditing and its necessity
    • .
    • (EU2) describe the access to the auditing profession, the tasks and duties as well as the business model
    • (EU3) explain the principles and process of an annual audit.
    • (EU4) explain the basics of process mining and classify its relevance for auditing.(EU5) describe current developments in sustainability reporting and auditing. Use, application and generation of knowledge
      • (EU6) Select and perform appropriate and sufficient procedures for selected parts of the assurance process based on a risk-based approach and assess when conclusions can be drawn from the results and findings obtained and in which cases matters should be referred for clarification or decision by the assurance team.
      • (EU7) navigate existing process mining analyses using Celonis software, identify actual processes, compare them with expectations and evaluate and document findings.
      Communication and cooperation
      • (LO8) document and communicate work results individually and collectively in a manner appropriate to the target group
      • .
      Scientific self-image / professionalism
      • (LO9) reflect on the significance of the professional behavioral requirements "critical attitude" and "dutiful discretion" and justifiably classify professional ethical issues in connection with integrity, objectivity, professional competence and due care, confidentiality and professional conduct
      • .
      b. Corporate law
      Professional competence
      Knowledge
      • The students know the legal foundations of individual company forms, in particular the rules of shareholder liability, the provision and maintenance of capital, representation and management in a company as well as the basics of corporate actions
      Skills
      • The students are able to make a well-founded decision on the choice of legal form and evaluate the facts accordingly
      • .
      • They can use the case methodology they have learned to structure corporate law problems in the company and develop proposed solutions.
      • You will recognize which regulations will be required in a partnership agreement and can participate in the creation of the regulation. Personal skills
        Social competence
        • Students develop team skills that are supported by working on cases together
        • .
        • Students can lead and coordinate teams in a results-oriented manner.
        • They can present team results in a complex and challenging environment and propose legally relevant solutions. Independence
          • Students can deal with complex legal cases independently and solve them convincingly
          • .
          • They have the ability to understand the interplay between Business Studies and commercial law and to form their own point of view.
          • You will be able to systematically analyze legal issues independently and develop a practical business solution for them.

    Contents

    a. Auditing I
    • Introduction to auditing
    • Profession of the auditor
    • Auditing external financial reporting
    • Risk-oriented audit approach
    • Professional conduct requirements and ethical issues
    • Process mining 
    • Sustainability reporting and auditing
    b. Corporate law
    • Partnerships (concept, formation, internal and external relations, liability of partners)
    • Corporations (including basic principles, formation, executive bodies, internal and external relations, raising capital, internal and external liability)
    • Choice of legal form
    • Basics of mergers & acquisitions (including share deals and asset deals; structuring the business relationship against the background of a possible corporate transaction)

    Teaching methods

    Seminar-style lecture with practical case exercises and practical workshops

    Participation requirements

    Formal: none
    Content: Basic knowledge of accounting; basic knowledge of commercial law

    Forms of examination

    The module examination consists of an examination portfolio with which the above-mentioned learning outcomes are assessed.
    • Exam (100 %, of which 50 % are auditing I and 50 % corporate law), 90 min. duration
    or
    • Exam (90%, of which 40% is auditing I and 50% is corporate law), 90 minutes
    • Semester-long, English-language e-learning "Process Mining for Audit Professionals" with final ILIAS test (5%, for LE4 and LE7 of Wirtschaftsprüfung I), up to 7 hours in duration (average duration from participant feedback 7.5 hours)
    • Semester-accompanying reflection as an ILIAS survey (5%, for Wirtschaftsprüfung I), up to 2x 15 minutes
    The form of examination and the adjusted scope/duration will be announced at the beginning of the semester.

    Requirements for the awarding of credit points

    Passed module exams

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    a. Wirtschaftsprüfung

    Graumann, M. (2023). Wirtschaftliches Prüfungswesen (7. Aufl.). NWB Verlag.

    Maksymov, E. (2022). The craft of auditing for accounting undergraduates: The stuff you actually need to learn before graduating (1. Aufl.). Cognella.

    Marten, K.-U., Quick, R., & Ruhnke, K. (2020). Wirtschaftsprüfung (6. Aufl.). Schäffer-Poeschel. 


    b. Gesellschaftsrecht

    Bitter/Heim, Gesellschaftsrecht, aktuelle Auflage

    Führich, Wirtschaftsprivatrecht, Bürgerliches Recht, Handelsrecht, Gesellschaftsrecht, aktuelle Auflage

    Meyer, Wirtschaftsrecht: Handels- und Gesellschaftsrecht, aktuelle Auflage 

    Wackerbarth/Eisenhardt, Gesellschaftsrecht I und II, aktuelle Auflage

    2. Semester of study

    Business Intelligence-gestütztes Controlling
    • PF
    • 4 SWS
    • 6 ECTS

    • Number

      95230

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    The students
    • expand their knowledge in the field of controlling to include special components of IT support with business intelligence
    • deepen their knowledge in special areas of cost and performance controlling in the project, banking and insurance business
    • deepen their knowledge in specific areas of risk and BSC controlling.
    • work together with the lecturer to gradually develop essential extended knowledge bases and decision-making fields based on the latest information technology and the specialist area of controlling and its module characteristics.
    2.1.2 Skills
    The students
    • get to know and apply tried and tested concepts, systems and instruments of BI-supported controlling with regard to decision support for company managers
    • learn how to use modern IT solutions (e.g. data warehouse) in case studies, which are particularly in demand for use in today's professional field
    • .
    • are able to apply sophisticated reporting and planning tools for data analysis and forecasting in different business environments and are able to adapt them to new practical conditions
    • Master methods and instruments of cost and performance controlling in the project, banking and insurance business and are able to classify them critically.
    • Can implement and apply methods and instruments of risk and BSC controlling in an organization. 2.2 Personal competencies
      2.2.1 Social competence

      The students
      • solve controlling-oriented problems alone and in a team. They contribute their own ideas and arguments to the group
      • .
      • develop technical papers independently, which are discussed in the team
      • present and defend your team results prudently in a complex and demanding environment
      • learn about potential for improvement in cooperation between people in projects and organizations, especially between IT and specialist functions.
      • improve their HR skills, which are required in a BI project. 2.2.2 Independence
        • The students
        • learn to independently manage and transform complex work or study contexts and can implement these in a new IT environment
        • .
        • reflect on the operational challenges of a company in relation to IT and specialist functions as well as the social values affected by these
        • can independently develop independent projects and ideas and support them with business intelligence
        • .

    Contents

    In terms of content, the course focuses on the methods and techniques of BI-supported controlling, which are taught both theoretically and practically with case studies. Building on the basics of BI-supported controlling, the following sub-areas are covered: 
    • Business Intelligence and Business Performance Management 
    • Data Warehouse 
    • Development of reporting structures and content 
    • Development of planning systems 
    • Big data 
    • Key figure systems
    • Cost and performance controlling in different industries 
    • Early warning and management information systems 
    • Balanced scorecard 
    • Risk controlling
    The sub-areas are weighted differently in the in-depth course. The content is systematically developed as part of the lecture and practical exercise, partly on the PC with the involvement of students using the latest BI software (SAP BW and analysis software used in the SAP environment).

    Teaching methods

    Seminar-based course, exercises, case studies and group homework.

    Multimedia approach using PC, projector, overhead projector and blackboard.

    Participation requirements

    Formal: none
    Content: Basic knowledge of accounting and controlling would be an advantage.

    Forms of examination

    • Semester-accompanying partial performance: Group homework. (50%)
    • Exam (50%) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Chamoni, P., und P. Gluchowski. Business analytics – state of the art. Zeitschrift für Con-trolling, Management Review 61(4):8–17, 2017.

    Diederichs, M.: Risikomanagement und Risikocontrolling, 4. Aufl., München 2018.

    Engels, C.: Basiswissen business intelligence, 2. Aufl. Dortmund: W3I. 2015

    Gluchowski, P.; Chamoni, P.: Analytische Informationssysteme: Business-Intelligence-Technologien und –Anwendungen, 5. Aufl., Wiesbaden: Springer 2016.

    Horváth, P.; Gleich, Ronald; Seiter, Mischa.: Controlling, 13. Aufl., München 2015.

    Kemper, H.-G.; Mehanna, W.; Unger, C.: Business Intelligence Grundlagen und Prakti-sche Anwendungen, 3. Aufl., Wiesbaden 2010.

    Reichmann, Thomas; Kißler, Martin Baumöl, Ulrike.: Controlling mit Kennzahlen, 9. Aufl., München 2017.

    Schön, Dietmar: Planung und Reporting im BI-gestützten Controlling: Grundlagen, Busi-ness Intelligence, Mobile BI und Big-Data-Analytics, 3. Aufl., Wiesbaden 2018.

    Weber, Jürgen; Schäffer, Utz: Einführung in das Controlling, 15. Aufl., Stuttgart 2016

    Wiesehahn, A; Kißler, M. (Hrsg.): Erfolgreiches Controlling - Theorie, Praxis und Perspek-tiven, München, Vahlen, 2018

    Data Analytics for Management Accounting
    • PF
    • 4 SWS
    • 6 ECTS

    • Number

      95270

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    The students
    • expand their knowledge in the field of data analysis from a conceptual and practical perspective,
    • understand typical problems and various uses of data analysis as well as the professional roles involved that benefit from data analysis,know various current tools and, depending on the practical problem, can make a conscious and combined selection to find a goal-oriented solution,deepen their knowledge of the application of various tools using selected case studies,understand the strengths and weaknesses as well as development potential of common tools,gain a comprehensive overview of the basics of data analytics,are able to define and practically classify the various technical terms used in data analytics,know the possible areas of application of data analytics in controlling and finance,understand the different challenges in dealing with structured and unstructured data,know the categories of tools and applications in the field of data analytics.
    2.1.2 Skills
    Students gradually test and master various data analysis tools to support decision-making in different roles in companies. From this, they develop the ability to use data analysis tools and trends appropriately and professionally in order to arrive at a targeted solution. You will be able to interpret your results and critically analyze their significance. Using selected examples, you will be able to relate individual techniques to a professional industrial environment and consulting practice and creatively demonstrate innovative potential.
    The students
    • learn how to use relational databases and the Structured Query Language,
    • use a self-service BI tool and
    • learn how to use Python for data analysis
    • .
    2.2 Personal skills
    2.2.1 Social skills

    Students develop team competence in working on the cases. They are also able to present their team results in a complex and demanding environment, represent their own points of view and argue from different stakeholder perspectives. In doing so, you will be able to communicate in a technically sound and convincing manner to the target group and at the same time be empathetic.
    Overall, you will learn about challenges and potential for improvement in cooperation between people with different characters, which also arise in everyday practice, especially between IT and specialist functions.

    2.2.2 Independence
    Students learn to work independently in the acquisition of various data analysis tools. In addition, they solve various cases alone and in teams by developing them independently and structuring them into practicable work tasks. By taking an independent approach, you will consciously focus on areas that correspond to your inclinations, allowing you to contribute your own ideas for solving the case. Through the reflection process initiated in the auditorium, the students follow and question their learning process in the course and their role in the group work, from which recommendations for further teamwork and the course of study are derived.

    Contents

    In the Data analysis with DATEV event, the various purposes and individual steps for using the standard software are developed using individual cases. For example, the data sets provided are examined for anomalies with the help of predefined audit steps, e.g. gap checks, cash minus, Benford analyses. As the evaluation of company data according to specific audit criteria has also gained massively in importance due to tax audits, corresponding audit procedures are an integral part of the content. In this respect, the various areas of application in controlling, accounting, corporate auditing as well as in tax and auditing become clear. The content-related sub-areas are conceptually developed with the involvement of the students in the first step, which is followed by practicing and solving according to the cases.
    • Import of inventory data from DATEV pre-systems
    • Import and preparation of data sets from non-DATEV systems
    • Standard audit steps, e.g. for balance sheet analysis, plausibility checks, mathematical-statistical procedures
    • Design of test steps according to individual objectives, e.g. by sorting, filtering, layering or grouping
    • Output and interpretation of results lists
    • Standardization of audit procedures
    • Planning and execution of automated data analyses
    The course Data Analytics - Basics, Applications and Tooling is structured as follows
    • Basics, delimitations and definitions of data analytics
    • Evaluation of structured data with relational databases and SQL
    • Self-service business intelligence
    • Data analysis with Python

    Teaching methods

    Seminar-based e-learning course in which various cases from a practical project are worked on. Multimedia approach using PC, projector, overhead projector and white board.

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    • Semester-accompanying partial performance (20 %)
    • Semester-accompanying partial performance (30 %)
    • Exam (50 %) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Adams, Ralf: SQL, München 2012.

    Chamoni, P., und P. Gluchowski. Business analytics – state of the art. Zeitschrift für Con-trolling, Management Review 61(4):8–17, 2017.

    DATEV (2019): Arbeitsunterlage: DATEV Datenprüfung, Nürnberg 2019.

    Freiknecht, Jonas: Big Data in der Praxis, München 2014.

    Froche, Jörg: Maschinelles Lernen - , München 2019.

    Horváth, P.; Gleich, Ronald; Seiter, Mischa.: Controlling, 13. Aufl., München 2015.

    Kemper, Hans-Georg; Baars, Henning; Mehanna, Walid: Business Intelligence – Grundlagen und praktische Anwendungen - Eine Einführung in die IT-basierte Managementunterstützung, 3., überarb. Und erw. Aufl., Wiesbaden 2010.

    Weber, Jürgen; Schäffer, Utz: Einführung in das Controlling, 15. Aufl., Stuttgart 2016.

    IT-Controlling
    • PF
    • 4 SWS
    • 6 ECTS

    • Number

      95300

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    Building on a basic understanding of cost and performance accounting, students are familiar with the performance-oriented model concept of IT controlling as opposed to the value-oriented approach. Students are familiar with the relevant methods of an operational and strategic IT toolbox and the new developments in IT, such as predictive or prescriptive analytics, platform companies and blockchain as part of the corporate business.

    2.1 Professional competence
    2.1.1 Professional and methodological competence
    • Determine the semantic meaning of the basic terms of IT controlling
    • Determine the special requirements of cost accounting for IT controllers
    • Describe and explain important methods of strategic IT controlling, such as IT strategy, standardization, balanced scorecard, portfolio management and methods for determining value in IT
    • Select and analyze strategic methods based on practical examples and case studies
    • Explaining and developing selected operational tools of IT controlling, e.g. special aspects of IT cost and performance accounting, key performance indicator systems for IT, the importance of performance agreements in the form of service level agreements and decision-making bases for outsourcing processes
    • .
    • Explain new IT technologies and their significance for company business models.
    • 2.1.2 Self-competence
      • Developing a solution for a given problem
      2.1.3 Social competence
      • Presenting a solution in a group
      • Moderating a discussion in a group

    Contents

    • IT controlling concepts
    • Review of the basics of management accounting
    • Strategic IT controlling tools
    • Operative IT controlling tools
    • Presentation of selected innovative IT technologies
    • Case studies

    Teaching methods

    The following forms of teaching are used for the course
    • Lecture in interaction with the students, with blackboard writing and projection,
    • Solving practical exercises in individual or team work,
    for use.

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    • written examination paper or oral examination (according to the current examination schedule)
    • examinations during the semester

    Requirements for the awarding of credit points

    • passed written examination or passed oral examination (according to current examination schedule)
    • successful term paper

    Applicability of the module (in other degree programs)

    M.Sc. Business Informatics, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Gadatsch, A., Masterkurs IT-Controlling, 5. Auflage, Wiesbaden 2015

    Gadatsch, A., IT-Controlling für Einsteiger, Praxiserprobte Methoden und Werkzeuge, Wiesbaden 2016
     

    Ergänzende Literatur:

    Buchta, D. u. a., Strategisches IT-Management, 3., überarbeitete und erweiterte Auflage, Wiesbaden 2009

    Gröner, U., Geschäftsprozessmanagement I, Online-Publikation, o. O. 2008, unter: http://www.shaker.de/de/content/catalogue/index.asp?lang=de&ID=6&category=181Krcmar, H., Informationsmanagement, 6. Aufl., Berlin et al. 2015

    Wöhe, G., Döring, U., Betriebswirtschaftslehre, 26. Auflage, München 2016

    Aktuelles Thema
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954091

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    Background: This compulsory elective module is intended to enable the head of degree program, in coordination with the Dean's Office, to approve special and usually one-off WPM courses on current topics, e.g. based on changes in the law, technological developments or economic situations ("crisis"). Such flexible offerings were requested by some subject groups and can also be considered across subject groups (e.g. business administration + economics or business administration + law). The offering of a compulsory elective module via participation in the Ruhr Master School (RMS) can also be provided as a "current topic". 
    The students know the context and the basic theories of the "current topic", develop possible solutions for the "novel" problem and  also practice innovative research methods, independent learning, group work and presentations.

    The course must be approved by the head of the degree program in consultation with the dean's office.

    Contents

    The content and form (seminar or block) of the courses must be specified in good time by the lecturers offering them and announced in a module description;

    Teaching methods

    Powerpoint-supported dialog-oriented events with practical examples.
    Accompanying compulsory reading of specified sources as well as independent research on current topics and practical problems or applications.
    Group work, moderated discussion, "learning by doing", independent preparation of papers, presentation of papers and group results under time restrictions.
    It is advisable to invite external experts to give lectures or to participate in the courses as lecturers.

    Participation requirements

    Formal: None
    Content: To be specified by the lecturer in each case

    Forms of examination

    Written exam at the end of the semester and, if applicable, an examination during the semester

    Requirements for the awarding of credit points

    Passed module exam and successful seminar performance during the semester

    Applicability of the module (in other degree programs)

    -

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Abhängig vom jeweiligen aktuellen Thema

    Aktuelles Thema: Digital Skills
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      9540911

    • Language(s)

      en

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies

    2.1.1 Knowledge 

    The students know and understand

    • the core aspects, concepts, methods and principles of the technologies digital twin and artificial intelligence, 

    • the areas of application of the methods of machine learning and simulation for companies, 

    • process models in digitization projects and simulation projects

     

    2.1.2 Skills 

    The students can

    • explain the basics of digital twins and artificial intelligence

    • name and classify their methods

    • assess suitability and maturity for business use cases

    • assess the relevance, opportunities, risks and limitations of use in for business use cases 

    • solve smaller, application-related problems with selected technologies

    • identify required skills and competences in the company upon introduction

     

    2.2 Personal Competencies

    The students

    • develop an attitude towards the technologies of digital twins and artificial intelligence and their methods

    • can deal with complexities when working in groups

    • are able to present and defend team results in a complex and demanding environment

    The students can

    • cope with complex tasks

    • work on case studies independently and in groups in a targeted manner

    Contents

    Digitization, the Internet of Things and Industry 4.0 will significantly change companies and supply networks. The basis for a sustainable competitiveness are smart products, innovative services and new business models based on digital technologies. 

    Two core concepts of digitalization are Digital Twins and Artificial Intelligence. The digital twin promises to offer a real-time, always up-to-date, digital model of physical resources (machines, employees) and processes. It allows to determine relevant KPI and to forecast developments, e.g. by use of simulation techniques.

    Artificial intelligence is not only found in technologies such as autonomous vehicles, smart production machines and speech recognition, but also in sales forecasting, supply chain risk management, quality control, marketing and many other business tasks.

    Consequently, both concepts hold many opportunities, but in order to apply these in a targeted manner and to derive recommendations for the necessary skills and abilities of the employees, it is necessary to gain an insight into the underlying technologies and to identify the success factors as well as risks and limitations.

    This course offers a case study-based, application-centered introduction to both technologies for students with a business background. 

    After an introduction to the concepts of digital twins and artificial intelligence, possible applications in the business environment are discussed. Following, the basics of simulation are imparted. The students work on case studies using the popular simulation software Anylogic. 

    In the artificial Intelligence part, a technical overview of the common methods of artificial intelligence is given and small, basic case studies on selected methods are worked on in groups using a Python environment. In contrast to other, more statistically or technical oriented modules, the focus in this module lies on machine learning, i.e. cluster and classification methods, such as those used in supply chain management for supplier or customer classification, in quality management for error detection or in risk management for bottleneck forecasting.

    Lecture Structure

    • Digital twin and artificial intelligence 

      • Basic concepts, principles, and methods

      • Areas of application of the methods of machine learning and simulation within companies

    • Digital twin and simulation 

      • Introduction, digitization projects and simulation projects 

      • Basics of simulation with Anylogic

      • Case studies 

    • Artificial intelligence

      • Introduction to AI and machine learning

      • Basics of programming in Python

      • Supervised learning: principles, applications and case studies 
         (Nearest Neighbor, Decision Trees, Neural Nets)

      • Unsupervised learning: principles, applications and case studies
         (k-Means, hierarchical clustering) 

    • Summary

      • Suitability and maturity of concepts and methods

      • Relevance, opportunities, risks and limitations in applications

      • Required skills and competencies

    Note: 

    • This course includes an introduction to the simulation software Anylogic. The software will also be applied for a case study in Module 9_10 Supply Chain Process Improvements (Code Number 984012). 

    • This course includes an introduction to programming in Python. Python will also be applied for a case study in Module 7 SCM Applications (Module Number 98251).

    Teaching methods

    • Lectures introducing concepts, methods and tools

    • Online courses introducing programming concepts

    • Group work to practice methods and to work on case studies 

    • Guest lectures

    Participation requirements

    Formal: none

    Knowledge and competencies: none 

    Forms of examination

    • 50% contributions within the course (homework, group work, presentations, case studies)

    • 50% written or oral examination at the end of the course

    Requirements for the awarding of credit points

    In total a required minimum level has to be achieved in all above named parts of the assessment (typically 50%).

    Applicability of the module (in other degree programs)

    M.Sc. Digital Transformation

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Ertel, W. (2021): Grundkurs Künstliche Intelligenz - Eine praxisorientierte Einführung, Springer Fachmedien Wiesbaden GmbH

    Freitag, Kotzab, Megow: Dynamics in Logistics, Springer 2021

    Frochte: Maschinelles Lernen: Grundlagen und Algorithmen in Python, Hanser, 2021

    Göpfert: Logistik der Zukunft, 8. Auflage, Springer Gabler, 2019

    Gutenschwage, Rabe, Spiekermann, Wenzel: Simulation in Produktion und Logistik, Springer, 2017

    Kubat: An Introduction to Machine Learning, Springer 2021

    McKinney, W. (2012). Python for data analysis: Data wrangling with Pandas, NumPy, and IPython. O'Reilly Media. 

    Müller: Introduction to machine learning with Python. O'Reilly Media, 2016

    Norvig, P., Russel, S. (2021): Artificial Intelligence, Harlow Pearson Educations

    Wagner: Industrie 4.0 für die Praxis, Springer Gabler, 2018

    Winkelhake, U.: The Digital Transformation of the Automotive Industry, Springer International Publishing, 2018

    Besondere Probleme der nationalen und internationalen Rechnungslegung
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954008

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    Students have in-depth knowledge of national and international accounting, including group accounting.

    2.1.2 Skills
    Students apply national and international accounting regulations. They solve accounting-oriented problems alone and in teams, can present solution concepts and discuss them critically in plenary sessions.

    2.2 Personal skills
    2.2.1 Social skills

    Students can work on problems in a team. They can divide the tasks among themselves, discuss partial solutions and combine them into an overall solution and present the result together. While working in plenary sessions, students follow the explanations of their fellow students, offer constructive criticism and defend their position.

    2.2.2 Independence
    Students can independently analyze accounting problems and develop solutions. They independently find the necessary sources, evaluate them and derive possible solutions.

    Contents

    The course provides in-depth knowledge of national and international accounting, including group accounting. Procedures already applied in practice are taught as well as possible solutions to accounting problems currently being discussed by experts. These include, for example, the accounting of financial instruments, leasing contracts and sales revenue as well as special problems of group accounting (including subsequent accounting of differences from capital consolidation, treatment of earn-out clauses).

    Teaching methods

    Seminar-based teaching, group work

    Participation requirements

    Formal: none
    Content: good - very good basic knowledge of accounting according to HGB and IFRS

    Forms of examination

    • Semester-accompanying partial performance (50 %)
    • Exam (50 %) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Coenenberg, Adolf G. / Haller, Axel / Schultze, Wolfgang: Jahresabschluss und Jahresabschlussanalyse, Schäffer-Poeschel Verlag 

    Pellens, Bernhard / Fülbier, Rolf Uwe / Gassen, Joachim: Internationale Rechnungslegung, Schäffer-Poeschel Verlag

    Heuser, Paul J. / Theile, Carsten: IFRS-Handbuch, Verlag Dr. Otto Schmidt KG

    HGB-Kommentare

    IFRS-Kommentare

    Fachzeitschriftenbeiträge

    Computational Finance
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954010

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies
    2.1.1 Knowledge

    The objective of this course is to equip students with modelling skills in the area of finance using a computer spread sheet and performing complex tasks in visual basic programming codes. Upon completion of this course, students will be able to:
    • Understand, calibrate, and estimate alternative statistical models of equity risk, exchange rate risk, interest rate risk, commodity price risk, and operational risk;
    • Extend the models to evaluate the risk of derivative securities;
    • Critique and recognize the strengths and weaknesses of various risk measures, such as value at risk and expected shortfall, and be able to recommend the appropriate uses of each;
    • Provide a detailed description of the meaning and interpretation of the output from these models using the terminology and concepts of mathematical risk management;
    • Be able to make and evaluate recommendations related to a firm's interest rate, equity and credit risk management programs;
    • Sincerely and consistently values and demonstrates respect for the opinions of others, even when one is not in agreement with those opinions, and
    • Develop a capacity for critical thinking, and participate in the methods of discovery and problem-solving.
    2.1.2 Skills
    The student should know
    • the specialized problem-solving skills required in research in order to develop new knowledge and procedures and to integrate knowledge from different fields,
    • detect and identify risk by applying creativity techniques,
    • use techniques to analyze compound risks (e.g. Monte Carlo simulation) and
    • apply sophisticated quantitative tools for data analysis in different economic settings
    2.2 Personal Competencies
    2.2.1 Social Competencies

    The student can
    • lead and coordinate teams in a results-oriented fashion,
    • present and prudently defend team results in a complex and demanding environment, and
    • handle complexities while working in international teams.
    2.2.2 Autonomy
    The Students can
    • manage and transform work or study contexts that are complex, unpredictable and require new strategic approaches,
    • reflect operational challenges of a company in the background of social values,
    • the interplay between economic regulation and institutional framework and the strategic outline of a company and is able to derive an own mind on it,
    • work out independent projects and ideas and can do what is necessary to carry out a sustainable management initiative.

    Contents

    This course explores methodologies used to model risk in financial enterprises. The types  of  financial  risks  that  most  industries  face  come  from  both  the  asset  and liability sides of the balance sheet and thus require a wide range of modeling tools. Further, the tools used in the modeling of interest-rate risk, equity risk, and default risk have become increasingly important in an era of increasing convergence between the insurance industry and financial capital markets.

    This course will introduce several risk management models designed to allow risk managers to measure and manage each source of risk. Emphasis will be placed on developing "hands-on" experience which includes the calibration of models and discussion of the data issues faced in the application of these models. Students will be assigned three projects/case studies over the term of the course. Topics include
    • Applying time value of money concepts in Excel to solve more complex present value problems by means of spread sheet functions.
    • Fixed income analytics to implement basic bond yield calculations in Excel.
    • Interpretation of selected advanced concepts in term structure of interest modeling.
    • Models in portfolio theory and statistics.
    • Spread sheet structuring and handling to apply Excel/VBA based methods to prepare raw data for further analysis.
    • Basic VBA Programing concepts for interactive models in finance and insurance.
    The course aims both to familiarize students with influential papers and current research, and to promote new research ideas in the area.

    Teaching methods

    The course material is presented in lecture form and through computer work in a "lab" situation. Strong emphasis will be placed on instructing the students in the implementation of various valuation and risk management techniques. Project-based learning is a significant component of the course so students will have an active role in both the learning and teaching process.

    Participation requirements

    Formal: -
    Knowledge and Competencies: -

    Forms of examination

    75% contributions within the course (homework, group work, presentations, case studies), 25% written examination (60 minutes) at the end of the course.

    Requirements for the awarding of credit points

    Passing of the assignments.

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    This course is very challenging, both conceptually and technically. You should expect to spend a good deal of time mastering the material.

    Literatur:

    Benninga, S., Financial Modeling, Cambridge (MIT Press).

    Aichinger, M.; Binder, A., A Workout in Computational Finance (with Mathematica), Wiley Finance.

    Stojanovic, S., Computational Financial Mathematics using Mathematica, Optimal Trading in Stocks and Options, Birkhäuser.

    Wilmott, P., Paul Wilmott on Quantitative Finance, John Wiley & Sons.

    Corporate Governance
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954005

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    They are familiar with the German corporate constitution in terms of the business management framework and its economic implications. On this basis, students can classify and analyze complex entrepreneurial decisions with regard to the motives of those involved. They develop an understanding of the various factors influencing a decision and are able to assess these both from the perspective of the company and from the perspective of those directly affected. They are familiar with and can assess the influence of social developments on the legal framework of the corporate constitution in a first step as well as the action-relevant effects at company level.

    They are familiar with the task, competence and responsibility of the bodies of a corporation (in particular a stock corporation) and the resulting scope for action for the actors. On this basis, students can also assess complex decision-making situations and describe their consequences. They can independently evaluate the options for action associated with entrepreneurial decisions with regard to legal, business and ethical criteria and develop different options for action on this basis.

    2.1.1 Knowledge
    Students understand the Anglo-Saxon concept of corporate governance with regard to the requirements it places on companies. They know the history of the associated discussion about "good" corporate management and monitoring and can derive the implications of the shareholder value approach and the stakeholder value approach.


    They are familiar with basic economic approaches to explaining corporate governance, such as the principal-agent theory. They are familiar with the legal foundations of corporate governance in Germany. They will be able to differentiate between the German corporate constitution and its specifics in the international environment. They are familiar with the dual system of management board and supervisory board and the resulting special fields of action. Students will be able to interpret the respective interests of the actors involved in a contextualized manner and assess their significance for corporate policy and strategy, also using case studies.

    They are aware of the specific information requirements of the supervisory board based on its monitoring mandate. They will be able to differentiate between the importance of internal and external accounting in satisfying its information requirements and identify the requirements for the functional areas of a company. The importance of the validity of information is understood and the requirements for the design in practice can be determined.

    Students understand the lines of development of corporate governance and can classify current legislative projects in terms of their practical relevance. On the basis of current socio-political discussions, they can explain the implications for corporate governance and formulate proposals for their consideration within the framework of the corporate constitution.

    2.1.2 Skills
    Students are able to identify business management requirements on the basis of comprehensive legal principles. They can describe the intention of changes in the law and assess the implications for practice. They are able to transfer economic concepts (of the new institutional economics) to business management problems and assess the advantages and disadvantages of such an approach.

    Students develop an understanding of the motivation of individuals as decision-makers in an organization and can draw conclusions for strategic and operational decisions. Already known business management concepts can be subjected to a differentiated assessment with regard to legal requirements, as a result of which, on the one hand, action requirements and, on the other hand, potential legal consequences for the acting actors can be derived. The current socio-political discussions within the field of corporate governance can be critically monitored and assessed with regard to their direction of development, so that requirements can be derived for the material information level of decision-makers in the entrepreneurial context.

    2.2 Personal competencies
    2.2.1 Social competence

    Students develop a feel for the different motivations of the actors involved. They learn to critically reflect on their own understanding of the role of the company - and thus of the people acting in it - and to classify it in the context of corporate governance. In this respect, students also recognize the importance of (their own) social action and have the opportunity to reflect on their own behavior. They discuss their ideas regarding the responsibility of decision-makers and are able to assess the personal and social consequences of actions, both in relation to legal consequences and beyond.

    2.2.2 Self-employment
    Students will be able to independently analyze the economic effects of legal changes in the area of corporate constitution. They can examine the relevance of changes in the legal situation without the support of third parties and classify problems in practice on the basis of the legal situation. They are familiar with the independent use of various sources for a differentiated assessment of the implications for practice.

    Contents

    The field of tension of corporate governance in historical and socio-political terms is shown. Based on conceptual categories from the field of sociology, a fundamental understanding of the role of the company in society is derived. Building on this, the corporate interest is presented as a leitmotif for the ideal-typical actions of the individual actors on the basis of the already known approaches of shareholder and stakeholder value. This is followed by its classification within the framework of the corporate constitution. One focus here is on tracing the legal lines of development, which opens up the possibility of deriving further development trends. Areas of tension within corporate governance are identified and approaches to solutions are developed with recourse to economic concepts. The mechanisms of corporate governance described in the literature are critically reflected upon with regard to their effectiveness. The national corporate constitution is placed in an international context. The role of the supervisory board as a characteristic of the dual system is addressed and legal and economic requirements for this body are defined; at the same time, the work of the board and its self-organization are presented in a practical way. The legal liability framework for the company's executive bodies is defined so that requirements for accounting and controlling (including risk management) can be derived on this basis. The differentiated situation within the group of companies is also discussed. Finally, current, complex problem areas of corporate governance are discussed.

    Key point structure:
    • Definition and history of corporate governance
    • Legal foundations of corporate governance
    • Explanatory contribution of new institutional economics
    • Corporate governance mechanisms in theory and practice
    • Legal and economic requirements for the supervisory board
    • Requirements for the company's information system
    • Current problems of corporate governance in practice

    Teaching methods

    Seminar-based teaching, group work

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    • Semester-accompanying partial performance (50%)
    • Exam (50%) (60 minutes)

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.A. Business Management, M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Diederichs, Marc; Kißler, Martin: Aufsichtsratreporting. Corporate Governance, Compliance und Controlling, München 2008.

    Grundei, Jens: Zaumseil, Peter (Hrsg.): Der Aufsichtsrat im System der Corporate Governance. Betriebswirtschaftliche und juristische Perspektive, Heidelberg 2012.

    Freidank, Carl-Christian: Unternehmensüberwachung. Die Grundlagen betriebswirtschaftlicher Kontrolle, Prüfung und Aufsicht, München 2012.

    Hommelhoff, Peter; Hopt, Klaus J.; von Werder, Axel (Hrsg.): Handbuch Corporate Governance. Leitung börsennotierter Unternehmen in der Rechts- und Wirtschaftspraxis, 2. Auflage, Stuttgart 2009.

    Kißler, Martin: Informationsmanagement für den Aufsichtsrat im Konzern. Controlling und Corporate Governance gestützte Gestaltungsempfehlungen für eine Management-Holding, Frankfurt am Main 2011.

    Lutter, Marcus (Hrsg.): Holding-Handbuch, 5. Auflage, Köln 2015.

    Kremer, Thomas; Bachmann, Gregor; Lutter, Marcus; von Werder, Axel: Deutscher Corporate Governance Kodex: Kodex-Kommentar, 6. Auflage, München 2016.

    Tricker, Bob: Corporate Governance. Principles, Policies and Practices, 4. Auflage, Oxford 2019.

    Wagenhof, Alfred: Controlling und Corporate Governance-Anforderungen, Berlin 2009.

    Entrepreneurship und Mergers & Acquisitions
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954002

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    Students understand the startup cycle and the main startup management techniques used. The focus is on tools for digital business models. Possible topics include:

    • Designing, developing and verifying business models/products
    • Lean startup management techniques
    • Marketing products digitally
    • Scaling business internationally
    • Funding growth
    • Business planning
    • Valuing start-ups
    • Achieving an exit for founders and investors
    • Founding and managing a corporation

    In addition, students have knowledge of how to successfully plan and implement M&A transactions. The focus is on skills in the following subject areas:

  • Organization and process control of an M&A project
  • Company valuation
  • Due diligence
  • Success factors of an M&A transaction
  • Post-merger management
  • 2.1.2 Skills
    Students can apply essential startup management techniques to real business ideas and present their results for discussion in a feedback-oriented manner.
    Students are able to actively participate in M&A projects and can help shape them professionally. This ranges from the well-founded preparation of an M&A deal to its implementation and post-merger management.

    2.2 Personal skills
    2.2.1 Social competence

    Students acquire the ability to coordinate and work on tasks in teams. This takes place with changing responsibilities and workloads of the team members, so that students learn to manage and motivate a team over a period of time.

    2.2.2 Independence
    Students can independently apply theory to practical problems. They can assume individual responsibility and thus team leadership within the framework of subtasks of a team.

    Contents

    Entrepreneurship:
    • Value proposition design for the development of business ideas
    • Business model canvas for modeling business models
    • Lean startup management to accelerate product development, e.g. through the build-measure-learn cycle and minimum viable products
    • Digital marketing, e.g. Google AdWords campaigns for the efficient use of a tight marketing budget
    • Start-up financing, e.g. crowdfunding campaigns for financing and branding
    • Internationalization of the business, e.g. subsidiaries, logistics/customs, web strategy
    • Business plan with focus on cash flow planning
    • Valuation of start-ups using various valuation methods, in particular the venture capital method Technical aspects of valuation such as pre- vs. post-money or dilution
    • Preparation of an exit of the founders/investors via takeover by another company
    • GmbH formation, e.g. GmbH contracts, formation process, duties of managing directors
    Mergers & Acquisitions (M&A):
    • Understanding the term and forms of M&A
    • Framework conditions and regulatory environment 
    • Main players in an M&A transaction and their motivations
    • Organization and process of an M&A deal with its classic milestones (decision in principle, identification and selection of potential targets/prospective buyers, establishing contact, confidentiality agreement, teaser, information memorandum, non-binding purchase offers, due diligence, binding purchase offers, contract negotiations and signing, closing and post-merger management 
    • Basic knowledge of the valuation of business units, due diligence and the company purchase agreement as well as post-merger management 
    • Success factors of an M&A transaction

    Teaching methods

    Lecture / seminar course.

    Participation requirements

    Formal: -
    Content: -

    Forms of examination

    0 to 100 % written examination (60-120 minutes) and, if applicable;
    0 to 100 % group work (homework/presentations)
    0 to 20 % oral participation for blocked course dates

    Requirements for the awarding of credit points

    Regular and active participation in the courses and passing the examination(s).

    Applicability of the module (in other degree programs)

    M.A. Business Management, M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Alemany, L.: Valuation of New Ventures, in Alemany, L.; Andreoli, J. (Hersg.): Entrepreneurial Finance, Cambridge 2018

    Ballwieser, W.; Hachmeister, D.: Unternehmensbewertung: Prozess, Methoden und Probleme, Stuttgart 2013

    Blank, S.; The Four Steps to the Epiphany, Pescadero CA 2013

    Dittrich, F.: Bestimmungsfaktoren und Methoden der Pre-money-valuation innovativer Startups, in Faix, A.; Büchler J.-P. (Hersg.): Innovationsstrategien, Berlin 2018

    Engelen, A.; Engelen, A.; Bachmann, J.-T.: Corporate Entrepreneurship, Wiesbaden 2015

    Kollmann, T.: E-Entrepreneurship: Grundlagen der Unternehmensgründung in der Digitalen Wirtschaft, 6. Auflage, Wiesbaden 2016

    Osterwalder, A.; Pigneur, Y.: Business Model Generation, Hoboken 2010

    Osterwalder, A.; Pigneur, Y.: Value Proposition Design, Hoboken 2014

    Ries, E.; The Lean Startup, London 2011

    Rosenboom, P.: Harvesting: the Exit, in Alemany, L.; Andreoli, J. (Hersg.): Entrepreneurial Finance, Cambridge 2018
     

    Literatur Mergers & Acquisitions:

    Ballwieser: W. Unternehmensbewertung - Prozeß, Methoden und Probleme, 5. Auflage, Stuttgart, 2016

    Berens, W.; Brauner, H. U. (Hrsg.): Due Diligence bei Unternehmensakquisitionen, 7. Auflage, Stuttgart 2013

    Drukarczyk, J.; Schüler, A.: Unternehmensbewertung; 7. Auflage, München 2016

    Hölters, W. (Hrsg.): Handbuch des Unternehmens- und Beteiligungskaufs, 6. Auflage, Köln 2005

    Feix, T.; Büchler, J.-P., Straub, T.: Mergers & Acquisitions – Erfolgsfaktoren für mittelständische Unternehmen, Freiburg 2017

    Hofnagel, J. R.:  Die Suche nach dem „passenden“ Finanzinvestor – Empfehlungen für die beratende Begleitung von Unternehmensverkäufen, in: BeraterBrief Betriebswirtschaft (BBB), Heft Nr. 3, 2007, S.75-82

    Hofnagel, Johannes R.: Verkauf von Unternehmensteilen bzw. des Unternehmens als Sanierungsoption, in: Haarmeyer, Hans (Hrsg.), Sanierungs- und Insolvenz-management II – Grundlagen und Methoden, 2009, S. 309-396.

    Jansen, S. A.: Mergers & Acquisitions – Unternehmensakquisitionen und –kooperationen, 6. Auflage, Wiesbaden 2016

    Lucks, K.: M&A-Projekte erfolgreich führen – Instrumente und Best Practices, Stuttgart 2013

    Peemöller, V. H. (Hrsg.): Praxishandbuch der Unternehmensbewertung, 6. Auflage, Herne/Berlin 2015

    Picot, G. (Hrsg.): Handbuch Mergers & Acquisitions – Planung, Durchführung, Integration, 5. Auflage, Stuttgart 2012

    Wirtz, B. W.: Mergers & Acquisitions Management – Strategie und Organisation von Unternehmenszusammenschlüssen, 3. Auflage, Wiesbaden 2014

    Finanzmarktregulierung
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954006

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1.Professional competence
    2.1.1 Knowledge

    The students know
    • the sectoral regulatory approach of the European financial services industry
    • the specific regulation of Packaged Retail Investment and Insurance-based Products (PRIIPs)
    • the structure of German financial services distribution, in particular the legal requirements and economic significance
    • the transposition of the Insurance Mediation Directive (IDD) and the Market in Financial Instruments Directive (MiFID) into German law
    • The economic consequences of implementation for financial service providers, financial service customers, financial service intermediaries and supervisory authorities
    • Requirements and challenges of risk management in financial services sales
    • .
    2.1.2.Skills
    The students can
    • classify forms of financial services companies and name legal requirements for market entry and market behavior
    • explain the development, counseling and distribution of financial services on the basis of economic theories
    • explain consumer protection interests in the development, counseling and distribution of financial services
    • explain the need to adapt the financial services market to regulatory requirements on the basis of economic theories and empirical findings and describe the consequences for financial service providers, financial service customers, financial service intermediaries and supervisory authorities
    • .
    2.2 Personal competencies
    2.2.1 Social competence
    • The students learn
    • to develop application references for the theoretical learning material in teams using exercises
    • to give presentations to the group
    • to critically discuss current media texts relating to the topic of financial market regulation in an appreciative manner and to tolerate differing opinions
    • .
    2.2.2 Independence
    The students can
    • read legal texts and understand their significance for financial service providers, financial service clients, financial service intermediaries and supervisory authorities
    • independently derive approaches from economic theories to derive economic consequences of regulation for the players
    • identify, analyze and describe empirical findings using statistical methods
    • .

    Contents

    The course covers the following content:
    • Structure of European regulation of the financial services market
    • In-depth application example: The regulation of insurance distribution
    • Implementation of the IDD and MiFID directives into German law
    • Economic consequences for financial service providers, financial service customers, financial service intermediaries and supervisory authorities based on economic theories and empirical findings
    • Outlook for further regulatory steps
    • International comparison with the implementation of and experiences with financial market regulation in country markets such as the United Kingdom
    • .

    Teaching methods

    Lecture with application and case studies, group work

    Participation requirements

    Formal: none
    Content: none

    Forms of examination

    100 % end-of-semester examination

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Akerlof, George: The market of „Lemons“: Quality Uncertainty and the Market Mechanism, in: The Quarterly Journal of Economics, Nr. 3 1970, S. 488-500

    Beck, Hanno: Behavioral Economics, Wiesbaden 2014

    Beckmann/Matusche-Beckmann: Versicherungsrechts-Handbuch, 3. Aufl. München 2015

    Beenken, Matthias: Versicherungsvertrieb, Absatz von Versicherungen durch Versicherer und Vermittler in Theorie und Praxis, Karlsruhe 2017

    Beenken, Matthias; Kruse, Markus; Löffler, Juliane; Sütterle, Hannah; Wende, Sabine: Einfluss der Vermittlerregulierung auf die private Altersvorsorge der deutschen Bevölkerung, Studie, hrsg. von Assekurata Solutions, Köln 2016

    Beenken, Matthias; Radtke, Michael: Betriebswirtschaftliche Konsequenzen eines Systemwechsels in der Vergütung von Versicherungsvermittlern, Bonn/Dortmund 2013

    Beenken, Matthias; Radtke, Michael: Provisionen und Courtagen – was die Versicherer ihren Vermittlern zahlen, Ahrensburg 2015 (2017 in Vorbereitung)

    Beenken, Matthias, Sandkühler, Hans-Ludger: Das neue Versicherungsvermittlergesetz, Planegg/München 2007

    Beenken, Matthias, Sandkühler, Hans-Ludger: Die neue Versicherungsvertriebsrichtlinie, München 2017 (in Vorbereitung)

    Cummins, J, David, Doherty, Neil A.: The Economics of Insurance Intermediaries, Working Paper, 2008

    Freiling, Jörg, Reckenfelderbäumer, Martin: Markt und Unternehmung, 3. Aufl., Wiesbaden 2010

    Höckmayr, Gergana: Wandel der Beratungsqualität auf dem Versicherungsvermittlungsmarkt: Eine ökonomische Analyse der Veränderungen aufgrund der Anforderungen der EU-Vermittlerrichtlinie, Karlsruhe 2012

    Kahnemann, Daniel, Tversky, Amos: Choices, Values and Frames, 10. Aufl., New York 2009

    Karau, Torsten: Qualitätsmessung in der Versicherungsvermittlung: Eine empirische Untersuchung der Unterschiede zwischen Provisions- und Honorarvergütung in der Altersvorsorge, Lohmar/Köln 2015

    Langheid/Rixecker: VVG, 5. Aufl., München 2016

    Sonnenberg, Marcus: Vertriebskostentransparenz bei Versicherungsprodukten, Karlsruhe 2013

    Temporale, Ralf: Europäische Finanzmarktregulierung: Handbuch zu EMIR, MiFID II / MiFIR, PRIIPs, MAD / MAR, OTC-Derivaten und Hochfrequenzhandel, Stuttgart 2015

    International Controlling
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954003

    • Language(s)

      en

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies
    2.1.1 Knowledge

    The students know the controlling instruments and are able to apply this to international situations, taking into account cross-border and country-specific conditions

    2.1.2 Skills
    Students know the dimensions of international controlling and are able to select and apply appropriate controlling-instruments for specific application situations in the international context as well as developing situation-specific models.
    They are able to assess opportunities and risks generated by a cross-border business action and capture the costs adequately.
    The students are able to structure an international investment controlling, dominate the transfer pricing issues and are familiar with the assessment of international M&A transactios.

    The Students can/know/apply
    • Design, application and development of controlling instruments in an international context
    • the full coverage of occurring problems in the international context and assessment of their financial impact
    • the penetration of relevant individual topics (e.g. transfer pricing, trade barriers, currency risks) and placement of these topics in the overall context of controlling
    • Design, planning and management of M&A-transactions and projects
    2.2 Personal Competencies
    2.2.1 Social Competencies

    Particularly in the international context it is important to recognize the difficulties that are associated with it, to do business in a different cultural context. Controllers are used to focus and concentrate on numbers, there is a risk that problems which arise from cultural differences, are not adequately planned, recorded, measured and communicated. In this case it is up to the controller to acquire skills and to develop a high degree of sensitivity to such issues. Social competence plays a greater role in an international context than in purely national business operations. The transfer of such skills is a cross-cutting issue that pervades almost all topics of this lecture.

    2.2.2 Autonomy
    The penetration of complex correlations is expected, which arise from international businesses and international business locations. The students should be able to independently make a selection, adaptation and development of controlling instruments regarding international transactions. The focus is on the development of a comprehensive knowledge base on international activities and their detection in controlling structures, primarily application-oriented, but also with research implications.

    In an international context Controlling is often carried out with a reduction in complexity, which leads to an inadequate decision making.
    Therefore the students
    • need to identify all relevant aspects and need to integrate them into decision models
    • need to recognize when decision models require an adaptation and how to implement them. This requires a high degree of autonomy, as international circumstances often are very specific and are often changing rapidly. Here it is important to learn techniques and to develop them in order to respond appropriately and in time to such situations.

    Contents

    Key topics:
    • the business environment in international markets
    • dimensions and instruments of international controlling
    • acquisition of country-specific opportunities and risks (including risk management and corporate governance in an international perspective)
    • Calculation of market entry: export / import, foreign direct investment, acquisitions
    • Acquisition of tariff and non-tariff trade barriers (tariffs etc.)
    • Dealing with currency risks
    • Acquisition of transportation costs, communication and information costs
    • International investment controlling and reporting structures
    • International accounting standards (international transfer pricing)
    • International mergers & acquisitions transactions
    • Calculation and management of international projects

    Teaching methods

    Lectures incl. practitioners' best practices and case studies, teamwork and presentations. The students will prepare one topic of International Controlling in detail and visit one international operating Company, finding out in their Controlling Department, how this topic is carried out in this specific company in reality.

    Participation requirements

    Formal: none
    Knowledge and Competencies: none

    Forms of examination

    examination (60 minutes) (50%) and continuous assessment (coursework assignment and presentation) (50%)

    Requirements for the awarding of credit points

    Successful completion of examination and continuous assessment

    Applicability of the module (in other degree programs)

    M.A. Business Management, M.A. International Management, FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    2 semester course of studies: 10 % (6/30) x 50
    3 and 4 semester course of studies: 6,7 % (6/60) x 67

    Literature

    Becker, Wolfgang / Ulrich, Patrick / Hilmer, Christian: Internationales Controlling, Bamberg 2013

    Berens, Wolfgang / Born, Axel, / Hoffjan, Andreas (Hrsg.): Controlling international tätiger Unternehmen, Stuttgart 2000

    Cravens, K. S. (1997): Examining the role of transfer pricing as a strategy for multinational firms, in: International Business Review, Vol. 6, 2, S. 127-145

    Hamilton, R. D. / Kashlak, R.J. (1999): National Influences on Multinational Corporation Control System Selection, in: Management International Review, Vol. 39, 2, S. 167-189.

    Hoffjan, Andreas: Internationales Controlling, Stuttgart 2009

    Internationales Steuerrecht und Wirtschaftsprüfung II
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954014

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    a. International tax law
    Expert knowledge
    Knowledge
    • Understand the principles and systems of international taxation
    • know the basic structure and functioning of the DTA based on the OCED Model Convention
    • have comprehensive knowledge of the various forms of cross-border business activities,
    • can assess the significance of international transfer pricing for multinational groups of companies and tax administrations
    • understand the arm's length principle, the concept of comparability and transfer pricing methods
    • Know the purpose and content of transfer pricing documentation
    Skills
    • analyze the application of double taxation treaties in international tax planning
    • assess the benefits and objectives of transfer pricing,
    • to examine whether and to what extent transaction adjustments can be made in the context of transfer pricing,
    • to take a critical look at transfer pricing agreements,to prepare transfer pricing documentation.
    Personal skills
    Social competence
    • work independently in groups to solve case studies,
    • promote their teamwork and communication skills,
    • discuss the challenges of transfer pricing before the course
    Self-sufficiency
    • work independently through the relevant literature to identify transfer pricing rules, practices and approaches,
    • apply the acquired knowledge to new double taxation issues.
    b. Auditing II
    In a world characterized by uncertainty and accounting scandals, reliable information is crucial for making informed decisions. Auditing supports reliable financial reporting and thus promotes confidence in the global market economy.
    This course provides students with the in-depth knowledge they need for their professional careers - regardless of whether or not they go on to work in auditing themselves. Students will learn why an understanding of digitized auditing is valuable for many roles in accounting, controlling and management.

    After successfully completing the course, students will be able to ...

    Knowledge and understanding
    • (LO1) structure essential processes in companies from a process-oriented perspective
    • .
    • (EU2) explain key terms and challenges of auditing digital financial reporting.
    • (LO3) explain key concepts of audit data analytics.
    Use, application and generation of knowledge
    • (EU4) Select and perform appropriate and sufficient measures for selected parts of the audit process based on a risk-oriented approach and assess when conclusions can be drawn from the results and findings obtained and in which cases matters should be referred for clarification or decision in the audit team.
    • (EU5) Create process mining analyses using Celonis software and prepare them in a way that is appropriate for the target group
    • (EU6) Navigate existing process mining analyses with Celonis software, identify actual processes, compare them with expectations and evaluate and document findings.
    Communication and cooperation
    • (LO7) document and communicate work results individually and collectively in a manner appropriate to the target group
    • .
    Scientific self-image / professionalism
    • (LO8) Critically analyze the impact of digital transformation on the auditing profession and evaluate it in terms of opportunities, risks and professional responsibility
    • (LO9) reflect on the significance of the professional conduct requirements "Critical attitude" and "Dutiful judgment" and justifiably classify professional ethical issues in connection with integrity, objectivity, professional competence and due care, confidentiality and professional conduct.

    Contents

    a. International tax law
    Due to the globalization of Business Studies, international taxation is becoming increasingly important for companies and governments. In addition, the pricing of goods and services within a multidivisional organization, particularly with regard to cross-border transactions, has become one of the most contentious areas of international tax law.

    Topics may include:
    • The international tax environment
    • The OECD Model Tax Convention 2017
    • Taxation of cross-border business activities
    • Transfer pricing methods and the arm's length principle
    • Adjustments to transfer prices
    • Avoidance and settlement of transfer pricing disputes
    • Documentation of transfer prices
    b. Auditing II
    • Understanding business processes
    • Internal control system (ICS)
    • Audit procedures
    • Documentation and reporting
    • Audit data analytics (with text mining, sentiment analysis and process mining)
    • Digital transformation of auditing
    • Professional conduct requirements and ethical issues

    Teaching methods

    Seminar-style lecture with practical case exercises and practical workshops

    Participation requirements

    Formal: none
    Content: Basic knowledge of taxes, especially corporate income tax; basic knowledge of accounting and auditing

    Forms of examination

    The module examination consists of an examination portfolio with which the above-mentioned learning outcomes are assessed.
    • Exam (100%, of which 50% international tax law and 50% auditing II), 90 min. duration
    or
    • Exam (95%, of which 50% international tax law and 45% auditing II), 90 minutes
    • Semester-accompanying and end-of-semester reflection as ILIAS survey (5%, on Auditing II), up to 2x 15 minutes
    The form of examination and the adjusted scope/duration will be announced at the beginning of the semester.

    Requirements for the awarding of credit points

    Passed module exams

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    a. Internationales Steuerrecht

    Holmes: International Tax Policy and Double Tax Treaties

    Feinschreiber: Transfer pricing handbook

    Navarro: Transactional adjustment in transfer pricing 

    Klassen et al.: Transfer Pricing: Strategies, Practices, and Tax Minimization?, in: Contemporary Accounting Research, Vol. 34, pp. 455-493.
     

    b. Wirtschaftsprüfung

    Graumann, M. (2023). Wirtschaftliches Prüfungswesen (7. Aufl.). NWB Verlag.

    Maksymov, E. (2022). The craft of auditing for accounting undergraduates: The stuff you actually need to learn before graduating (1. Aufl.). Cognella.

    Marten, K.-U., Quick, R., & Ruhnke, K. (2020). Wirtschaftsprüfung (6. Aufl.). Schäffer-Poeschel. 

    Options, futures & other derivatives
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954001

    • Language(s)

      en

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies
    2.1.1 Knowledge

    The objective of this course is to provide the student with the necessary skills to value and to employ options, futures, and related financial contracts. Upon completion of this course, students will be able to
    • require extensive knowledge about the types and the pricing of derivative securities including options, futures and forward contracts and swaps among other securities and recall how new knowledge is created in the field of derivatives,
    • recognize the institutional characteristics of derivatives exchanges, OTC markets and market clearing mechanisms.
    • examine the pricing of derivatives (emphasis will be given to the Black-Scholes model and the binomial option-pricing model),
    • apply and adapt accumulated knowledge of the major corporate risk management techniques,
    • use derivatives to manage financial risks and evaluate the robustness of a hedged or netted position,
    • sincerely and consistently values and demonstrates respect for the opinions of others, even when one is not in agreement with those opinions, and
    • develop a capacity for critical thinking, and participate in the methods of discovery and problem solving.
    2.1.2 Skills
    The student should know
    • the specialized problem-solving skills required in research in order to develop new knowledge and procedures and to integrate knowledge from different fields,
    • detect and identify risk by applying creativity techniques,
    • use techniques to analyze compound risks (e.g. Monte Carlo simulation) and
    • apply sophisticated quantitative tools for data analysis in different economic settings
    2.2 Personal Competencies
    2.2.1 Social Competencies

    The student can
    • lead and coordinate teams in a results-oriented fashion,
    • present and prudently defend team results in a complex and demanding environment, and
    • handle complexities while working in international teams.
    2.2.2 Autonomy
    The Students can
    • manage and transform work or study contexts that are complex, unpredictable and require new strategic approaches,
    • reflect operational challenges of a company in the background of social values,
    • the interplay between economic regulation and institutional framework and the strategic outline of a company and is able to derive an own mind on it,
    • work out independent projects and ideas and can do what is necessary to carry out a sustainable management initiative.

    Contents

    Derivative securities have become extremely popular investment tools over the past 43 years, as they allow one to tailor the amount and kind of risk one takes, be it risk associated with changes in interest rates, exchange rates, stock prices, commodity prices, inflation, etc. Derivatives are used by institutions as well as investors to hedge (reduce) unwanted risks or to take on additional risk motivated by views regarding future market movements.

    In order to provide a useful treatment of these topics in an environment that is changing rather rapidly, it is necessary to stress the fundamentals and to study some important applications. The topics that will be covered are
    • futures markets and their applications, including the pricing and use of futures contracts on stock indices, on commodities, and treasury instruments;
    • options markets and their applications, covering the valuation and use of options, including a discussion of the empirical evidence and dynamic asset allocation strategies;
    • swaps, complex derivatives, structured securities including several cases, and
    the use (and misuse)of derivatives in the context of corporate applications.
    I expect that a third of the course will be devoted to options, slightly less than a third to futures, and the remainder to more complex derivatives. Several cases will illustrate how the concepts discussed have been put into practice.

    Teaching methods

    Lectures introduce concepts, methods and tools. Group work applies methods and tools by solving case studies. Homework adds individual contributions and presentations communicate the results.

    Participation requirements

    Formal: -
    Knowledge and Competencies: -

    Forms of examination

    100 % written examination (60 minutes) at the end of the course
     

    Requirements for the awarding of credit points

    Passing of the assignments.

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.Sc. International FACT

    Importance of the grade for the final grade

    2 semester course of studies: 10 % (6/30) x 50
    3 and 4 semester course of studies: 6,7 % (6/60) x 67

    Literature

    This course is very challenging, both conceptually and technically. You should expect to spend a good deal of time mastering the material.

    Literatur:

    Hull, J. C., Options, Futures, and Other Derivatives, Prentice Hall.

    Hull, J. C.; Hoffmann, H., Optionen, Futures und andere Derivate, Pearson Studium, deutsche Übersetzung.

    Hull, J. C., Student Solutions Manual for Options, Futures, and Other Derivatives for Options, Futures, and Other Derivatives with Derivagem CD, Prentice Hall, oderHull, J. C.; Mader, W.; Wenger, M., Lösungsbuch Optionen, Futures und andere Derivate, Pearson Studium.

    Sundaram, R. K.; Das, S. R., Derivatives – Principles and Practice, International Edition, New York (McGraw Hill).

    Projektorientiertes Studium
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954099

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    The project-oriented study program serves to work on a comprehensive problem with reference to a typical project issue. The aim is to deepen the ability to apply the content learned during the course and to use it efficiently to solve practical problems and to evaluate the results achieved.

    2.2 Personal competencies
    2.2.1 Social competence

    Practical experience is accompanied by intensive collaboration in teams. The groups are largely responsible for their team and learn to work together on complex problems in a project-oriented manner
    .
    2.2.2 Independence
    Students are able to work on project topics under supervision with increasing independence and autonomy.

    Contents

    The content and form (seminar or block) of the course must be specified in good time by the lecturers offering the course and announced in a module description;

    Teaching methods

    Project-related coaching is provided, accompanied by additional counseling from the responsible lecturer. The organizational procedure will be announced in good time.

    Participation requirements

    Formal: None
    Content: To be specified by the lecturer in each case

    Forms of examination

    The examination form and weighting will be announced in good time. The following forms of examination are possible:
    • Semester-accompanying partial performance 
    • Exam 
    • Presentation
    • Combination of the listed forms of examination

    Requirements for the awarding of credit points

    Passed exam

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Veranstaltung muss von der Studiengangsleitung in Abstimmung mit dem Dekanat genehmigt werden!

    Quantitative Instruments in Insurance & Risk Management
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954007

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    The main objective is for students to acquire comprehensive knowledge and an in-depth understanding of the basic principles and quantitative instruments of insurance and risk management
    . The initial focus is on the methodological foundations of modern insurance and risk management and the underlying theoretical model approaches.

    2.1.2 Skillsn
    Students should become familiar with the basic methods for quantifying and measuring risks as a central approach to risk management as well as the basic techniques of risk diversification, mitigation and transfer in the context of insurance. This will enable them to develop suitable solutions for practical applications.

    The students
    • will be able to confidently apply the instruments of corporate risk management and place them in the overall context of the company
    • are able to work on selected problems methodically and correctly using subject-specific procedures and find a well-founded solution,can interpret mathematical results and analyze their significance,can relate individual techniques to a professional environment.
    2.2 Personal skills
    2.2.1 Social competence

    The students
    • develop, communicate and create a problem solution for operational risk management
    • develop a feeling for the different actors involved in risk management
    • learn to critically reflect on decisions
    2.2.2 Independence
    Students are able to
    • perceive the appropriate quantitative networking of risk management with systems of performance measurement and evaluation commonly used in the company
    • .
    • review the relevance of changes in risk management without the support of third parties and classify problems in practice
    • discuss the basic principles and various methods with a degree of complexity appropriate to the respective discussion situation
    • .

    Contents

    In terms of content, the course focuses on methods, procedures and techniques used in a modern integrated risk management approach for handling risky cash flows in an insurance company or in companies in general as part of quantitative risk management. It also covers the basic actuarial and risk theory approaches 
    .
    Since financial and actuarial approaches are increasingly converging in financial risk management, it is particularly important to understand and master the basic systematics, modes of action  and modeling techniques of different types of risks. For an insurance company, the assumption and handling of risks represents the actual economic basis for value creation, taking into account the regulatory framework, which must be optimized using suitable quantitative instruments. However, banks and increasingly other players in the financial services sector also manage risks on the basis of such an approach 

    The course develops concepts and theoretical model approaches for different types of risks, in particular underwriting risks, with a focus on measurement and integrated management. The emphasis is on the implementation of the various models and risk management techniques to applications of insurance industry products. The following key topics are covered
    • Definition, determinants and forms of risk
    • Instruments for quantifying and measuring risks
    • Fundamentals, methods and instruments of risk management 
    • Risk transfer by an insurance company
    • Methods and procedures for assessing and pricing insurance risks
    • Collective balancing/portfolio management
    • Economic capital and risk capital

    Teaching methods

    Multifunctional: lecture, discussion, exercise, case studies, self-study/homework.

    Participation requirements

    Formal: none
    Content:  none

    Forms of examination

    Up to 50% during the semester (exercises, group work, presentations, case studies/homework), remainder: examination at the end of the respective course.

    Requirements for the awarding of credit points

    Passed exam 

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Farny, Dieter: Versicherungsbetriebslehre, Karlsruhe 2011

    Heilmann,W-R;Schröter,K.J.: Grundbegriffe der Risikotheorie, Karlsruhe 2014

    Klugman,S., Panjer,H., Willmot,G.: Loss Models, From Data to Decicions, New Jersey, 2004

    McNeil,A.,Frey,R.,Embrechts,P.: Quantitative Risk Management, Princeton 2005

    Nguyen, Tristan: Handbuch der wert- und risikoorientierten Steuerung von Versicherungsunternehmen, Karlsruhe, 2008

    Radtke, Michael: Grundlagen der Kalkulation von Versicherungsprodukten in der Schaden-und Unfallversicherung, Karlsruhe, 2008

    Romeike, F., Müller-Reichert, M.: Risikomanagement im Versicherungsunternehmen, Winheim, 2005

    Schradin, Heinrich, R.: Erfolgsorientiertes Versicherungsmanagement, Karlsruhe, 1994

    Schmidt. Klaus D: Versicherungsmathematik, Berlin 2009

    Wagner, Fred: Risk Management im Erstversicherungsunternehmen, Karlsruhe 2000

    Risk Modelling Workshop
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954004

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional Competencies
    2.1.1 Knowledge

    The objective of this course is to equip students with modeling skills in the area of risk and insurance using a computer spreadsheet. Upon completion of this course, students will be able to:
    • understand, calibrate, and estimate alternative statistical models of different types insurance risk
    • understand, critique and recognize the strengths and weaknesses of various risk measures, such as value at risk and expected shortfall, and be able to apply and recommend the appropriate uses of each in practical applications;
    • provide a detailed description of the meaning and interpretation of the output from these models using the terminology and concepts of mathematical risk management;
    2.1.2 Skills
    Upon completion of this course, students will be able to
    • to make and evaluate recommendations related to a firm's risk enterprise model and the corresponding risk management program;
    • sincerely and consistently value and demonstrate respect for the opinions of others, even when one is not in agreement with those opinions,
    • develop a capacity for critical thinking, recognize limitations of models  
    • participate in the methods of discovery and problem solving.

    2.2 Personal Competencies
    2.2.1 Social Competencies

    Another goal of this course is to educate the students in terms of their social competencies. By solving case studies in groups, upon completion of the course students will be able to

    • lead and coordinate teams in a professional and results-oriented fashion
    • identify complexities while working in international teams and to address them in a professional and solution-oriented manner
    • present and defend team results in a complex and demanding environment apply leadership skills

    2.2.2 Autonomy
    Regarding the autonomy of the students, the objective of this course is to grow students regarding their self-reliance / responsibility, reflexivity, and learning competence. Upon completion of this course, students can/know/apply

    • manage and transform work or study contexts that are complex, unpredictable and require new strategic approaches,
    • reflect operational challenges of a company in the background of social values, e.g. outsourcing of a company's financial tasks
    • the interplay between economic regulation and institutional framework and the strategic outline of a company and is able to derive an own mind on it,
    • work out independent projects and ideas and can do what is necessary to carry out a sustainable financial management initiative, including overviewing the interdependencies with other departments (e.g. tax and accounting departments) of the organization.

     

    Contents

    This course explores methodologies used to model risk in insurance enterprises. The types of insurance risks require a wide range of modeling tools. Further, the tools used in the modeling insurance risk have become increasingly important in a more general context of modeling i.e financial risks or even corporate risks as a fact of convergence of different risk concepts. This course will introduce several risk management models designed to allow risk managers to measure and manage each source of risk. Emphasis will be placed on developing "hands-on" experience which includes the calibration of models and discussion of the data issues faced in the application of these models. Students will be assigned three projects/case studies over the term of the course.

    Topics include
    • Constructing statistics and empirical models using complete or incomplete data
    • Parametric models in finance and insurance in portfolio and risk theory
    • Estimation techniques
    • Simulation modeling
    • Spreadsheet structuring and handling to apply Excel/VBA based methods to prepare raw data for further analysis.
    • Implementing and running models on spreadsheets using different techniques, i.e. basic VBA programming concepts
    The course aims both to familiarize students with influential papers and current research, and to promote new research ideas in the area.

    Teaching methods

    The course will be run more as a workshop and independent study rather than a pure "seminar/discussion" course. That being said, there is no better way to learn modeling than to open up an excel spreadsheet and just dive in. Students will be assigned a number of models to construct from the text book. You will also be required to work on a group project of your own design. The class will wrap up with each team presenting a demo of their model along with commentary regarding the business case and the technical approach taken in the design of the model.

    Participation requirements

    Formal: none
    Knowledge and Competencies: none

    Forms of examination

    100% contributions within the course (homework, group work, presentations, case studies).

    Requirements for the awarding of credit points

    Passing the assessments

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Charnes, J.: Financial Modeling with Crystal Ball and Excel, Wiley, 2007

    Cottin, C. Döhler, S: Risikoanalyse Modellierung, Beurteilung und Management von Risiken mit Praxisbeispielen, Wiesbaden, 2009

    DAV-Arbeitsgruppe Interne Risikomodelle: Interne Risikomodelle in der Schaden-, Unfallversicherung , DGVFM, Deutsche Gesellschaft für Versicherungs- und Finanzmathematik e.V., Karlsruhe 2008

    Hartung, T.: Eigenkapitalregulierung bei Versicherungsunternehmen, Karlsruhe, 2007

    Heilmann, W.-R.: Grundbegriffe der Risikotheorie, Karlsruhe, 1987

    Klugmann, S., Panjer, H., Willmot, G.: Loss Models From Data to Decisions, Wiley, 2004

    McNeil, A., Frey, R., Embrechts, P.: Quantitative Risk Management, Princeton, 2005

    Nguyen, T.: Handbuch der Wert- und risikoorientierten Steuerung von Versicherungsunternehmen, Karlsruhe, 2008

    Oracle: Crystal Ball User's Guide, 11.1.2, 2010

    Radtke, M.; Grundlagen der Risikotheorie, Skript, 2008

    Radtke, M.: Grundlagen der Kalkulation von Versicherungsprodukten in der Schaden- und Unfallversicherung, Karlsruhe, 2008

    Radtke, R., Schmidt, K.D.: Handbuch zur Schadenreservierung, Karlsruhe, 2004

    Schmidt, K. D.: Versicherungsmathematik, Berlin, 2002

    Tillmann, M.: Risikokapitalbasierte Steuerung in der Schaden- und Unfallversicherung, Frankfurt, 2005

    Steuermanagement II (AO und Rechtssprechungsanalyse & steuerliche Rechtsformwahl)
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      954009

    • Language(s)

      de

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      120 h


    Learning outcomes/competences

    2.1 Professional competence
    2.1.1 Knowledge

    The students
    • know the basics of tax procedural law
    • understand the legal significance of judgments in fiscal jurisdiction
    • acquire in-depth knowledge of the taxation of partnerships
    • understand the determination of profits in partnerships and the effects of different degrees of involvement of surplus and deficit assets on the one hand and the existence of special business assets on the other
    2.1.2 Skills
    The students
    • can distinguish between the different levels of fiscal jurisdiction
    • are able to analyze tax rulings and classify their significance for the taxation procedure
    • are able to make value judgments to differentiate between the taxation of corporations and partnerships, draw comparisons and draw correct conclusions regarding the amount of the tax burden
    • are able to calculate and analyze tax burden comparisons
    2.2 Personal skills
    2.2.1 Social competence

    The students
    • develop team skills that are supported by partner and group work during the lecture
    • are able to prudently present and defend their team results in a complex and challenging environment
    • practice the acquisition of a fact-based discussion culture
    • take responsibility for the collective through the presentation of the results developed in partner and group work
    2.2.2 Independence
    The students can
    • reflect on the operational challenges of a company with reference to social values and
    • create forecasts and justify their own statements on the tax-optimized choice of legal form

    Contents

    Part 1 - AO and case law analysis
    • Existing force and amendment provisions
    • Rights of appeal
    • Litigation proceedings
    • Discussion and analysis of judgments on various tax topics    
    Part 2 - Taxation of partnerships and choice of legal form

    Continuing and deepening the module "Tax Management I - Corporate Tax", this module focuses on the taxation of partnerships and the tax-optimized choice of legal form. The following key topics are covered:
    Choice of corporate form and tax consequences
    • Tax balance sheet of the partnership including supplementary balance sheets and special balance sheets
    • Losses of the co-entrepreneurs, in particular the limited partners
    • Tax debit accounts

    Teaching methods

    Seminar-style lecture with integrated case exercises and presentations

    Participation requirements

    Formal: none
    Content: Fundamental knowledge of tax law (comparable to the 4 SWS basic lecture  "Taxes" in BA BW) and attendance of the module "Tax Management I"

    Forms of examination

    • Semester-accompanying partial performances (50%)
    • 60-minute written exam at the end of the semester (50%)

    Requirements for the awarding of credit points

    Passed module exam and partial performance during the semester

    Applicability of the module (in other degree programs)

    M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

    Importance of the grade for the final grade

    6,7 % (6/60) x 67

    Literature

    Jeweils aktuellste Auflage:

    Andrascek-Peter/Braun, Lehrbuch Abgabenordnung, NWB-Verlag

    Webel, Abgabenordnung, NWB-Verlag

    Niehus/Wilke, Die Besteuerung der Personengesellschaften, Schäffer Poeschel

    Hottmann/Kiebele u.a.: Die Personengesellschaft im Steuerrecht, Fleischer

    Niehus/Wilke, Die Besteuerung der Kapitalgesellschaften, Schäffer Poeschel

    3. Semester of study

    Thesis und Kolloquium
    • PF
    • 4 SWS
    • 30 ECTS

    • Number

      103

    • Duration (semester)

      1

    • Contact time

      60 h

    • Self-study

      900 h


    Learning outcomes/competences

    The Master's thesis as the final study module is intended to provide proof of the ability to carry out scientific work 
    . The thesis can be carried out as an independent, practice-oriented research activity on the basis of the scientific theories covered in the degree program.
    Alternatively, the work can also be designed as project work. Existing company contacts, cooperations and student contacts are regularly used to implement practice-oriented research approaches together with companies as part of a Master's thesis. For example, a strategic issue arising from academic discussion or business practice is addressed and systematically developed further as part of the master's thesis.
    The thesis serves to sustainably expand the scientific methods and knowledge already acquired during the course. Conceptually, the thesis should generally have both a scientific and practical application context.

    Contents

    Basically all contents of the curriculum

    Teaching methods

    Independent scientific work under the guidance of a supervisor

    Participation requirements

    Formal: See Study program examination regulations § 27
    Content: none

    Forms of examination

    Thesis and associated colloquium

    Requirements for the awarding of credit points

    Passing the thesis and the colloquium (see degree program examination regulations).

    Applicability of the module (in other degree programs)

    -

    Importance of the grade for the final grade

    33 %

    Literature

    Gadatsch, A., Masterkurs IT-Controlling, 5. Auflage, Wiesbaden 2015

    Gadatsch, A., IT-Controlling für Einsteiger, Praxiserprobte Methoden und Werkzeuge, Wiesbaden 2016


    Ergänzende Literatur:

    Buchta, D. u. a., Strategisches IT-Management, 3., überarbeitete und erweiterte Auflage, Wiesbaden 2009

    Gröner, U., Geschäftsprozessmanagement I, Online-Publikation, o. O. 2008, unter: http://www.shaker.de/de/content/catalogue/index.asp?lang=de&ID=6&category=181Krcmar, H., Informationsmanagement, 6. Aufl., Berlin et al. 2015

    Wöhe, G., Döring, U., Betriebswirtschaftslehre, 26. Auflage, München 2016

    Notes and references

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