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Master Finance, Accounting, Controlling and Taxation (viersemestrig)

Fast facts

  • Department

    Wirtschaft

  • Stand/version

    2021

  • Standard period of study (semester)

    4

  • ECTS

    120

Study plan

1. Semester2. Semester3. Semester4. Semester

Advanced Accounting

  • PF
  • 4SWS
  • 6ECTS

Computational Finance

  • PF
  • 4SWS
  • 6ECTS

Auslandsstudiensemester

  • PF
  • 4SWS
  • 30ECTS

Thesis und Kolloquium

  • PF
  • 0SWS
  • 30ECTS

Finanzmanagement

  • PF
  • 4SWS
  • 6ECTS

Finanzmarktregulierung

  • PF
  • 4SWS
  • 6ECTS

Praxissemester

  • PF
  • 4SWS
  • 30ECTS

Insurance & Corporate Risk Management

  • PF
  • 4SWS
  • 6ECTS

Quantitative Instruments in Insurance & Risk Management

  • PF
  • 4SWS
  • 6ECTS

Quantitative Methoden

  • PF
  • 6SWS
  • 6ECTS

Compulsory elective modules (13)

Quantitative Methoden & Data Analytics

  • PF
  • 6SWS
  • 6ECTS

Compulsory elective modules (9)

    • Compulsory elective modules 3. Semester

    • Compulsory elective modules 4. Semester

Module overview

1. Semester of study

Advanced Accounting
  • PF
  • 4 SWS
  • 6 ECTS

  • Number

    951901

  • Duration (semester)

    1

Finanzmanagement
  • PF
  • 4 SWS
  • 6 ECTS

  • Number

    95040

  • 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 are proficient in 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

  • Assessment of investment projects against the background of risk-adequate capital costs

  • Identification of 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 competencies

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

For the course, the teaching forms

  • Lecture with accompanying exercise

  • The lecture is conducted in interaction with the students with blackboard writing and projection

to be used

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

3,35 % (6/120) x 67

Literature

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

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

  • Number

    95010

  • 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 the course, students should gain comprehensive knowledge of the risk management process and the instruments of risk financing and control in an insurance company in the sense 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 portfolio optimization procedures, risk transfer through reinsurance and instruments of equity management and provisioning.

 

2.1.2 Skills

Students master the instruments of modern economically based corporate management models that simultaneously consider profit 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 classify them in the overall context of the company.

  • are able to process selected problems methodically and correctly using subject-specific procedures and find a well-founded solution,

  • can interpret mathematical results and analyze their meaning,

  • can relate individual techniques to a professional environment

 

2.2 Personal competencies

 

2.2.1 Social skills

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, the degree of complexity varies.

  • develop a feel for the different actors involved in the risk management process

  • learn to reflect critically on decisions

 

2.2.2 Self-employment

Students are able to

  • perceive the appropriate quantitative linking of the risk management process with systems of performance measurement and evaluation commonly used in insurance companies

  • to review changes in risk management with regard to their relevance even without the support of third parties and to 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 risk and return 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

3,35 % (6/120) 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

Quantitative Methoden
  • PF
  • 6 SWS
  • 6 ECTS

  • Number

    95060

  • 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 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 issues.

    2.1.2 Skills

    • Students master the advanced quantitative tools of multivariate analysis methods/econometrics/data science.

    • They can apply this methodological apparatus to quantitative, Business Studies questions.

    • You can use the relevant software (e.g. Excel, SPSS, R, Python) to solve such problems.

    • You are able to embed the results in the appropriate Business Studies context.

    2.2 Personal competencies

    2.2.1 Social skills

    • Students develop team skills by working together on tasks and case studies on the PC.

    • Students can present their solutions in a results- and application-oriented manner appropriate to the target group.

     

    2.2.2 Self-employment

    • Students can deal with complex work and study contexts independently and organize them according to requirements.

    • They can independently explore 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 develop solutions independently.

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-style teaching, case studies

Participation requirements

Formal: -     

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

Forms of examination

Closing written exam at the end of the semester (100%) (60 minutes)

Requirements for the awarding of credit points

Passed the test

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

3,35 % (6/120) 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

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

  • Number

    952018

  • Duration (semester)

    1

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 a sound knowledge of accounting in accordance with IFRS and HGB. They will be able to 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 national and international accounting problems independently and as part of a team 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 skills

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 Self-employment

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

Contents

In order to align the knowledge of the course participants, the basics of accounting according to IFRS in comparison to accounting according to HGB are first developed. With reference to 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-style 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

3,35 % (6/120) 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

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

  • Number

    952019

  • Duration (semester)

    1

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 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.

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)

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

Literature

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

Kostenmanagement
  • WP
  • 4 SWS
  • 6 ECTS

  • Number

    951902

  • 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 performance 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.

The 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 work on selected problems correctly using subject-specific procedures and find a well-founded solution. They will be able to interpret their mathematical results, critically analyze their significance and defend their own position in a self-reflective manner. Using selected examples, students are 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 assignments including presentation tasks

.

  • Students are able to coordinate and work on tasks in a goal-oriented manner.

  • They deepen their knowledge by applying common methods of scientific work and acquire sound specialist knowledge of a current topic in cost management.

  • You can present the team results in a complex and demanding environment, represent your own points of view and argue from different stakeholder perspectives. In doing so, you communicate in a technically sound and convincing manner to the target group and are empathetic at the same time.

2.2.2 Self-employment

  • 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 both decentrally and centrally.

  • You are able to derive your own points of view and attitudes in relation to existing theories, models and experiences and defend them in critical discussions 

Contents

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 theoretical (first) part and a more application/implementation-oriented (second) part, which is directly linked to the individual subject areas in terms of organization, 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 topics of cost management. 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-style 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 Dortmund city society.

Participation requirements

Formal: none

Content: Basic knowledge of cost and activity accounting 

Forms of examination

Exam at the end of the semester (60 minutes) (70 %) and an examination during the semester in the form of a presentation and term paper (30 %).

Requirements for the awarding of credit points

Passed exam (written exam as well as accompanying 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

3,35 % (6/120) x 67

Literature

Coenenberg, A.G.; Fischer, T. M.; Günther, T.: Kostenrechnung und Kostenanalyse, 8. Aufl., Stuttgart 2012

Fischer, T.; Möller, K.; Schutze, W.: Controlling - Grundlagen, Instrumente und Entwicklungsperspektiven, 2. Aufl., Stuttgart 2015

Franz, K.-P.; Kajüter, P. (Hrsg.): Kostenmanagement. Wertsteigerung durch systematische Kostensteuerung, 2. Aufl., Stuttgart 2002

Friedl, B.: Kostenmanagement, Stuttgart 2009

Haberstock, L.: Kostenrechnung II. (Grenz-)Plankostenrechnung mit Fragen, Aufgaben und Lösungen. Bearbeitet von Volker Breithecker, 10. Aufl., Berlin 2008

Hölzlwimmer, A.; Hahn, A. (2016): Produktkosten-Controlling mit SAP, 2., akt. und erw. Auflage, Bonn 2016

Kajüter, P.: Proaktives Kostenmanagement. Konzeption und Realprofile, Wiesbaden 2000

Weber, Jürgen; Schäfer, Utz: Einführung in das Controlling, 14. Aufl., Stuttgart 2015

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

3,35 % (6/120) 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

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 a sound knowledge of the effect of taxes on business decisions

 

2.1.2 Skills

The students can

  • show the systematics 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 competencies

2.2.1 Social skills

The students

  • develop team skills that are supported by partner and group work during the lecture

  • can 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 Self-employment

Students are able to

  • deal independently with the 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 

  • Sales tax in the group and holding companies 

  • Pre-tax deduction and input tax entitlement

  • VAT compliance

b) Taxation of corporations 

  • Taxation of the company and shareholders

  • External company 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

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

3,35 % (6/120) 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

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

  • Number

    951903

  • Duration (semester)

    1

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 are familiar with 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 are familiar with the spectrum of value-enhancing strategies and measures for the company as well as the control parameters and methods that are important for 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

Building 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 applied accurately 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 that balances the interests of those involved on the basis of appropriate analyses.

2.2.2 Self-employment

Students independently reflect on and assess the content 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 (such as economic value added, operating profit, discounted cash flow): Conceptualization, 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

  • 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

3,35 % (6/120) 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

  • Duration (semester)

    1

2. Semester of study

Computational Finance
  • PF
  • 4 SWS
  • 6 ECTS

  • Number

    95290

  • 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 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

3,35 % (6/120) 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.

Finanzmarktregulierung
  • PF
  • 4 SWS
  • 6 ECTS

  • Number

    95210

  • 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 in Financial Instruments Directive (MiFID) into German law

  • the economic consequences of implementation for financial service providers, financial service clients, 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 skills

The students learn

  • to develop application references for the theoretical learning material in teams on the basis of 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 Self-employment

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 stakeholders

  • 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 % examination at the end of the semester

    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

    3,35 % (6/120) 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

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

    • Number

      95250

    • 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 tools of insurance and risk management

    .

    First, the focus is placed on the methodological foundations of modern insurance and risk management and the underlying theoretical model approaches.

     

    2.1.2 Skills

    Students should learn the basic methods of quantifying and measuring risk as a key approach to managing risk, as well as the basic techniques of risk diversification, mitigation and transfer in the context of insurance  This will enable them to develop appropriate solutions for practical applications.

     

    The students 

    • will be able to confidently apply the instruments of corporate risk management and classify them in the overall context of the company.

    • are able to process selected problems methodically and correctly using subject-specific procedures and find a well-founded solution,

    • can interpret mathematical results and analyze their meaning,

    • can relate individual techniques to a professional environment

     

    2.2 Personal competencies

    2.2.1 Social skills

    The students 

    • develop, communicate and create a problem solution for operational risk management

    • develop a feel for the different actors involved in risk management

    • learn to reflect critically 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

    • to review changes in risk management with regard to their relevance, even without the support of third parties, and to 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 

    As financial risk management is increasingly merging financial and actuarial approaches, it is particularly important to understand and master the basic systematics, the 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 

    In the course, concepts and theoretical model approaches for different types of risks, in particular underwriting risks, are developed with a focus on measurement and integrated management. The emphasis is on the implementation of the various models and risk management techniques on 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

    3,35 % (6/120) 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

    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 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.

    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 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)

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

    Literature

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

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

    • Number

      9540911

    • 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 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

    Aktuelles Thema: Research Methodology Seminar
    • WP
    • 4 SWS
    • 6 ECTS

    • Number

      9540911

    • Duration (semester)

      1

    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

    The 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 on their own 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 problems in accounting and develop solutions. They independently find the necessary sources, evaluate them and derive possible solutions from them.

    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-style 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

    3,35 % (6/120) 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

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

    • Number

      954012

    • 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 with 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 at the cutting edge of information technology as well as the field of controlling and its module characteristics.

     

    2.1.2 Skills

    The students 

    • get to know and apply proven concepts, systems and instruments of BI-supported controlling with regard to decision support for the managers of a company 

    • learn how to use modern IT solutions (including data warehouses) in case studies, which are particularly in demand for use in today's professional field.

    • Can use sophisticated reporting and planning tools for data analysis and forecasting in different business environments and are able to adapt these 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 skills

    The students 

    • solve alone and in a team controlling-oriented problems. You bring your own ideas and arguments to the group 

    • Work independently on technical papers that are discussed in the team.

    • present and defend their team results prudently in a complex and demanding environment

    • learn about the potential for improvement in cooperation between people in projects and organizations, especially between IT and specialist functions.

    • improve their HR skills that are required in a BI project.

     

    2.2.2 Self-employment

    The students 

    • learn to independently manage and transform complex work or study contexts and are able to implement them in a new IT environment.

    • reflect on the operational challenges of a company with reference to IT and the specialist functions as well as the social values affected by them 

    • 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-style course, exercises, case studies and group homework  

    Multimedia working methods through the use of 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 the test

    Applicability of the module (in other degree programs)

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

    Importance of the grade for the final grade

    7,5 % (6/60) x 75

    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

    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 

    The German corporate constitution is familiar to them in terms of the business management framework and its economic implications. On this basis, students are able to 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.

    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 are known to them. 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 explanations of 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 an 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.

    The students are familiar with the specific information requirements of the supervisory board based on its supervisory 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 are able to classify current legislative projects in terms of their relevance for practice. 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 from this 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, requirements for action 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 actions and have the opportunity to reflect on their own behaviour.

    They exchange ideas about the responsibility of decision-makers and are able to assess the personal and social consequences of actions, both in terms of legal consequences and beyond.

    2.2.2 Independence

    Students are able to independently understand the economic effects of legal changes in the area of corporate constitution. They can review 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 possible solutions are developed with reference 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 business requirements for this body are defined; at the same time, the work of the body 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.

     

    Summary 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 business requirements for the supervisory board
    • Requirements for the company's information system
    • Current problems of corporate governance in practice

    Teaching methods

    Seminar-style 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 examination

    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

    3,35 % (6/120) 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.

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

    • Number

      954013

    • 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 point of view, 

    • understand typical problems and different uses of data analytics as well as affected professional roles that benefit from data analytics, 

    • know various current tools and, depending on the practical problem, can make a conscious and combined selection to find a goal-oriented solution, 

    • .

    • deepen your 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 the use of 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 challenging environment, represent their own points of view and argue from different stakeholder perspectives. In doing so, you will 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 the various data analysis tools. In addition, they solve various cases on their own and in teams by independently developing them and structuring them into practicable work tasks. By taking an independent approach, you consciously focus on areas that correspond to your inclinations, allowing you to contribute your own ideas for solving the case. Through the initiated reflection process in the auditorium, the students follow and question their learning process in the course as well as their role in the group work, from which recommendations for further teamwork and the course of study can be derived.

    Contents

    In the Data Analysis event with DATEV the various purposes and individual steps for using the standard software are developed using individual cases. For example, the data provided is examined for anomalies with the help of predefined check steps, e.g. gap check, 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 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 test 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-style e-learning course in which various cases from a practical project are worked on. Multimedia working method using a 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 (20 %)

    • Exam (60 %) (60 minutes)

    Requirements for the awarding of credit points

    Passed the test

    Applicability of the module (in other degree programs)

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

    Importance of the grade for the final grade

    3,35 % (6/120) 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

    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

    • Scale business internationally

    • Finance growth

    • Business planning

    • Valuing start-ups

    • Achieving an exit for founders and investors

    • Founding and managing a corporation

     

    In addition, students have the knowledge to successfully plan and execute 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 in-depth preparation of an M&A deal to its implementation and post-merger management.

     

    2.2 Personal skills

    2.2.1 Social skills

    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 apply theory independently 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 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 motives

    • 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-type 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

    3,35 % (6/120) 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

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

    • Number

      954014

    • Duration (semester)

      1

    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. 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 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

    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, M.Sc. International FACT

    Importance of the grade for the final grade

    3,35 % (6/120) 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 from the course and to use it efficiently to solve practical problems and to evaluate the results achieved.


    2.2 Personal skills

    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: Are to be specified by the lecturers

    Forms of examination

    The examination form and weighting will be announced in good time.

    The following forms of examination can be considered:

  • Semester-accompanying partial performance 

  • Exam 

  • Presentation

  • Combination of the listed forms of examination

    • Requirements for the awarding of credit points

    Passed the test

    Applicability of the module (in other degree programs)

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

    Importance of the grade for the final grade

    3,35 % (6/120) x 67

    Literature

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

    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 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 programing 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

    3,35 % (6/120) 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

    • gain in-depth knowledge of the taxation of partnerships,

    • understand the determination of profits in co-entrepreneurships 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 hand.

    2.1.2 Skills

    The students 

    • can distinguish between the different levels of financial 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 skills

    The students

    • develop team skills that are supported by partner and group work during the lecture

    • can 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 and 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 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 company 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) as well as attendance of the module "Tax Management I"

    Forms of examination

    • Semester-accompanying partial achievements (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

    3,35 % (6/120) 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

    Auslandsstudiensemester
    • PF
    • 4 SWS
    • 30 ECTS

    • Number

      95430

    • Duration (semester)

      1

    • Contact time

      0 h

    • Self-study

      900 h

    Learning outcomes/competences

    Students are able to significantly enhance their education by studying abroad; they increase their future chances on the job market. They can prepare their studies abroad as a career-deciding project in a well-founded manner, make targeted use of the advisory support offered for this purpose and carry it out largely independently. In particular, the semester abroad enables them to enrich and critically reflect on the skills and techniques they have learned at university against the background of foreign working, organizational and cultural contexts and new teaching and learning methods. Students are familiar with globalized professional fields in their subjects. They have the necessary intercultural competence and tolerance in and with multinational mixed working teams.

    Contents

    • The responsible counseling and organizing unit is the International Office of the Faculty of Business Studies at Dortmund University of Applied Sciences and Arts.

    • Only those universities or courses and events at universities can be selected for which Learning Agreements have been agreed with the Department of Student Affairs at Fachhochschule Dortmund.

    • The International Office of the Faculty of Business Studies decides which equivalent courses and events can be chosen.

    • After completing your studies abroad (usually after the 3rd semester), you must submit an experience report to the International Office of the Faculty of Business Studies in addition to the certificate from the foreign university.

    Teaching methods

    Formal: see § 17a StgPO

    Content: none

    Forms of examination

    20 ECTS courses, 10 ECTS experience report plus presentation

    Requirements for the awarding of credit points

    See "Regulations for the semester abroad"

    Literature

    Näheres regelt die „ Ordnung über das Auslandsstudiensemester“. Das International Office des Fachbereichs Wirtschaft stellt alle erforderlichen Unterlagen sowie Leitfäden etc. über die Lernplattform ILIAS zur Verfügung.

    Praxissemester
    • PF
    • 4 SWS
    • 30 ECTS

    • Number

      95420

    • Duration (semester)

      1

    • Contact time

      0 h

    • Self-study

      900 h

    Learning outcomes/competences

    Students are able to significantly enhance their education through an internship; they increase their future chances on the job market. They can prepare an internship at home or abroad as a career-deciding project in a well-founded manner, make targeted use of the advisory support offered and carry out the internship largely under their own steam. After the internship, they are able to apply the skills and techniques they have learned at the university in a more profound way against the background of a specific field of work. Students increase these benefits by doing an internship abroad. Here, they are particularly able to work independently and make their own decisions in uncertain situations and in foreign work, organizational and cultural contexts.

    Contents

    • The practical semester is intended to introduce students to professional activity. In particular, it should serve to apply the knowledge and skills acquired during previous studies and to reflect on and evaluate the experience gained during practical work. It should also serve as an orientation phase for the choice of stream.

    • The responsible counseling and organizing unit is the Practice Office of the Faculty of Business Studies.

    • All operational tasks in which the student solves a project largely independently or makes a definable contribution to its solution are eligible as areas of activity for the internship.

    • After completion of the internship (usually after the 3rd semester), a report must be submitted, which is reviewed by the internship office and the mentor.

    Participation requirements

    Formal: see § 17b StgPO

    Content: none

    Forms of examination

    20 ECTS practical semester, 10 ECTS experience report plus presentation

    Requirements for the awarding of credit points

    See " Regulations about the internship semester"

    Literature

    Näheres regelt die „Ordnung über das Praxissemester“. Das Praxisbüro des Fachbereichs Wirtschaft stellt alle erforderlichen Unterlagen sowie Leitfäden etc. über die Lernplattform ILIAS zur Verfügung.

    4. Semester of study

    Thesis und Kolloquium
    • PF
    • 0 SWS
    • 30 ECTS

    • Number

      103

    • Duration (semester)

      1

    • Contact time

      0 h

    • Self-study

      900 h

    Learning outcomes/competences

    The Master's thesis as the final study module should provide proof of the ability to carry out academic 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 thesis 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

    In principle, 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)

    M.A. Business Management, M.A. International Management

    Importance of the grade for the final grade

    33 %

    Notes and references

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