Professional skills and expertise
This module equips students with the knowledge and skills that are needed to analyze and prepare key financial decisions and organize effective budgeting, cost management, and controlling processes in internationally active companies.
On successful completion of this module, students will be able to:

• analyze and interpret financial statements of multinational companies (balance sheet, income statement, cash flow statement) and describe the interdependencies between these financial statements
• compare different forms of funding of multinational companies (equity versus debt financing / short-term versus long-term financing)
• analyze the capital structure of multinational companies
• prepare and evaluate investment proposals
• describe the specifics of controlling processes in internationally active companies
• design effective budgeting, forecasting, cost management, and controlling processes for multinational companies

• apply critical thinking when interpreting financial information
• communicate about the financial status of a company in a clear and comprehensible way (e.g., in the form of well-designed monthly controlling reports)

• apply standard spreadsheet software for financial analyses
• explain the role of "big data", data analytics and AI tools in the controlling function of multinational companies

None

This module covers the following topics:

1. Assessing and improving the financial health of a multinational company
   • Understanding key financial statements: Explore the main financial statements (balance sheet, income statement, and cash flow statement) and their interconnections
   • Evaluating financial performance: Analyze a multinational corporation's performance using financial ratios such as liquidity, profitability, and efficiency ratios, along with key performance indicators (KPIs)
   • Working capital management: cash conversion cycle, operating cycle, and effective management of cash, inventory, receivables, and payables
   • Driving profitability: Discover methods to improve profitability, including cost management and pricing strategies

1. Investment and financing decisions in multinational companies
   • Methods for evaluating and deciding between investment proposals (e.g., net present value/discounted cash flow, internal rate of return, payback)
   • Options for financing multinational companies
   • Long-term and short-term financing
   • Capital structure (equity vs. debt)

1. Budgeting and controlling in an international context
   • The controlling function in multinational companies
   • Designing effective budgeting, forecasting, and controlling processes in multinational companies
   • The monthly closing process and analysis of monthly financial results

Atrill, P. & McLaney, E. (2024). Management Accounting for Decision Makers. 11th ed. Harlow: Pearson.
Berk J. &, DeMarzo P. (2023). Corporate Finance. 6th global ed. Harlow: Pearson.
Berman, K., Knight, J. & Case, J. (2013). Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean. 2nd ed. Boston, MA: Harvard Business Review Press.
Bhimani, A., Horngren, C. T., Datar, S., & Rajan, M. V. (2024). Management and Cost Accounting. 8th ed. Harlow: Pearson.
Brigham, E., & Ehrhardt, M. (2023). Financial Management: Theory and Practice. 17th ed. Boston, MA: Cengage Learning. 8th ed. Harlow: Pearson.
Eiteman, K. D., Stonehill, I. A, Moeffett, M. H. (2023). Multinational Business Finance. 16th ed. (global edition). Harlow: Pearson. Chapters 1, 4, 13, 14.
Madura, J., & Fox, R. (2023). International Financial Management. 6th ed. Boston, MA: Cengage Learning.
Reichmann, T. (2011). Controlling: Concepts of Management Control, Controllership, and Ratios. Berlin et al.: Springer.
Ross, S. A., Westerfield, R. R., & Jordan, B. D. (2024). Fundamentals of Corporate Finance. 14th ed. New York, NY: McGraw Hill.
Sternad, D. (2020). Effective Management: Developing Yourself, Others, and Organizations. London: Macmillan International / Red Globe Press. Chapter 9: Achieving results.

• Self-study (asynchronous learning)
• Lecture and discussion (in-class or online)
• Group work
• Financial case studies

Integrated module exam (immanent examination character):

• Written exam 1
• Written exam 2
• Controlling group work