Introductory event: Controlling Winter Term 2015/2016
Organizational Contact Seminar für ABWL und Controlling Universität zu Köln Albertus-Magnus-Platz 50923 Köln Phone: (0221) 470 4451 Fax: (0221) 470 5012 E-Mail: Internet: Consultation hour: controlling@wiso.uni-koeln.de http://www.controlling.uni-koeln.de Registration required WISO Building, 1. floor Secretariat Mrs. Elisabeth Tokarski-Eich Room 129 2
Organizational Team M. Sc. Snjezana Deno Kosten- und Leistungsrechnung (Cost Accounting) Dr. Tanja Klettke Operative Controlling Strategic Controlling Phone : (0221) 470 7487 Fax: (0221) 470 5012 E-Mail: deno@wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 113 Phone : (0221) 470 3847 Fax: (0221) 470 5012 E-Mail: klettke@wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 126 3
Organizational Team Dr. Stefanie Liesenfeld Technik des betrieblichen Rechnungswesens (Book keeping) Phone : (0221) 470 3200 Fax: (0221) 470 5012 E-Mail: sliesenf@uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 115 Dipl.-Kfm. Dominik Nußmann Operative Controlling, Strategic Controlling, IT Phone : (0221) 470 4494 Fax: (0221) 470 5012 E-Mail: nussmann@wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 114 4
Organizational Team Dipl.-Kff. Kristina Reimer Kosten- und Leistungsrechnung (Cost accounting) M.Sc. Lars Rothe Value-based Controlling Förderverein Controlling e.v. Phone : (0221) 470 1668 Fax: (0221) 470 5012 E-Mail: reimer@wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 124 Phone : (0221) 470 7726 Fax: (0221) 470 5012 E-Mail: lars.rothe@wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 112 5
Organizational Team M.Sc. Roman Schick Value-based Controlling Risikocontrolling (Risk-based Controlling) Phone : (0221) 470 4452 Fax: (0221) 470 5012 E-Mail: @wiso.uni-koeln.de Consultation hour: Registration required WISO - Building, 1. floor Room 127 6
Overview of Controlling Operative Strategic Controlling Information Coordination Value-based Risikocontrolling + Practitioner talks Ausgewählte Fragen des Controlling 7
Structur of Controlling (I) Credit Points Courses offered: Courses (24 CP) of our Chair: - Operative and Strategic Controlling + Exercise (4+2 weekly hours = 12 CP) - Value-based Controlling + Exercise (2+2 weekly hours = 6 CP) - Ausgewählte Fragen des Controlling ( 2+1 weekly hours = 6 CP ) 8
Structur of Controlling (II) Optional course (6 CP) of our Area: - Selected Issues in Accounting (only offered for e.g. foreign credits) Credit Points Courses offered: Optional course (6 CP) of other Area: - Finance 7 + Exercise ( 2+2 weekly hours = 6 CP ) ( Rechnungslegung von Versicherungsunternehmen nach HGB / IFRS ) 9
Structure of the Specialisation Category - Accounting and Taxation (48 CP) 10
Structure of the Supplementary Category - Accounting and Taxation (24 CP) 11
Structure of the Supplementary Category - Controlling (24 CP) 12
Courses: Winter Term 2015/16 Specialisation Module Operative and Strategic Controlling Operative Controlling: () Tuesday, 10:00-11:30 a.m. in Lecture hall XXIV Wednesday, 10:00-11:30 a.m. in Lecture hall XXIII Start: 20.10.2015 End expected: 02.12.2015 Exercise: Thursday, 8:00-9:30 a.m. in Lecture hall XXIII (Dr. Tanja Lorenz, Start: 22.10.2015 End expected: 03.12.2015 Dipl.-Kfm. Dominik Nußmann) Strategic Controlling: () Tuesday, 10:00-11:30 a.m. in Lecture hall XXIV Wednesday, 10:00-11:30 a.m. in Lecture hall XXIII Start: 08.12.2015 End expected: 02.02.2016 Exercise: Thursday, 8:00-9:30 a.m. in Lecture hall XXIII (Dr. Tanja Lorenz, Start: 10.12.2015 End expected: 03.02.2016 Dipl.-Kfm. Dominik Nußmann) 13
Courses: Winter Term 2015/16 Specialisation Module Ausgewählte Fragen des Controlling Risikocontrolling (lecture): Monday, 4:00 5:30 p.m. in Lecture hall XII ( Prof. Dr. J.-A. Lohr ) Start: 26.10.2015 End expected: 08.02.2016 Practitioner talks (in English): Please check our website for updated information! www.controlling.uni-koeln.de 14
Schedule of events Winter Term 2015/16 Operative and Strategic Controlling Summer Term 2016 Value-based Controlling Accounting Seminar Accounting Seminar Risikocontrolling Practitioner events Ausgewählte Fragen des Controlling Risikocontrolling Practitioner events Ausgewählte Fragen des Controlling 15
Final exams offered Winter Term 2015/16 Operative and Strategic Controlling PO 2015 => Friday, 12.02.2016, 18:00 20:00 Operative Controlling PO 2008 => Friday, 12.02.2016, 18:00 19:00 Summer Term 2016 Operative and Strategic Controlling as well as single exams for PO 2008 (from WT15/16) Value-based Controlling (ST 2016) At the beginning of April 2016 Strategic Controlling PO 2008 => Friday, 12.02.2016, 18:00 19:00 Ausgewählte Fragen des Controlling (ST 2016) Value-based Controlling (ST 15) => Friday, 29.01.2016, 10:30 11:30 Ausgewählte Fragen des Controlling (WT 15/16) => Tuesday, 16.02.2016, 16:30 17:30 16
Exam procedure for Operative and Strategic Controlling PO 2008 Winter Term 2015/16 Old students: PO 2008 Either: Operative Controlling => Friday, 12.02.2016, 18:00 19:00 Or: Strategic Controlling => Friday, 12.02.2016, 18:00 19:00 ELSE: Operative Controlling and Strategic Controlling => Friday, 12.02.2016, 18:00 20:00 Register for both exams (Operative Controlling as well as Strategic Controlling) at the same time slot! The WiSo examination office will manually allocate you to the exam in the same room for PO 2015 (18.00 20.00). Summer Term 2016 Old students: PO 2008 Either: Operative Controlling => TBA Or: Strategic Controlling => TBA ELSE: Operative Controlling and Strategic Controlling => TBA Register for both exams (Operative Controlling as well as Strategic Controlling) at the same time slot! The WiSo examination office will manually allocate you to the exam in the same room for PO 2015. 17
Accounting Seminar Summer term 2016: - Allocation of the Advanced Seminar places are organized via KLIPS each Semester (online) http://www.klipsteam.uni-koeln.de/ - Each Chair offers 30 places - If accepted in KLIPS, additional registration for seminar at our secretary s office Dates: Topic announcement: Application deadline: Assignment to chairs: Topic allocation: TBA (regularly around November) See KLIPS 1 st allocation round ( Belegungsphase ) See KLIPS 1 st allocation round ( Belegungsphase ) (2 weeks later) After assignment and registration at our Chair: Topic preferences can be named 18
Writing theses at the Chair for ABWL and Controlling: Master thesis: (processing time: 6 months) => Application at our chair (not via KLIPS!) => There are two application deadlines per year: 1 st of October and 1 st of April For more information, please visit our homepage: http://www.controlling.uni-koeln.de/de/studium/master/masterarbeit/ 19
Foreign credits - In general: Consultation prior to the exchange semester - Please submit to Dr. Lorenz: - Cover letter - Course description (incl. Credit Points & weekly hours) - Structure and reading list - Transcript 20
Courses offered in Controlling Specialisation Module Operative and Strategic Controlling consists of two parts: Operative Controlling (lecture + exercise) Strategic Controlling (lecture + exercise) Specialisation Module Value-based Controlling Specialisation Module Ausgewählte Fragen des Controlling 21
Operative Controlling (2 weekly hours) Outline: 1. Fundamentals of Controlling 1.1 Controlling in practice 1.2 Controlling theoretical concepts 1.3 Interdependencies as the starting point of Controlling 1.4 Summary 2. Theory, concepts und methods for the foundation of Controlling 2.1 Cost accounting 2.2 Variance analysis and cost control 2.3 Investment analysis 2.4 Linear programming using the example of production planning 22
Operative Controlling (2 weekly hours) 2.5 Dynamic programming (decision tree analysis) 2.6 The concept of information value 2.7 Agency - Theory 3. Controlling instruments 3.1 Key performance indicators 3.2 Budgets and targets 3.3 Transfer pricing 3.4 Overhead cost allocation 3.5 Incentives 4. Conclusion 23
Strategic Controlling (2 weekly hours) Outline: 1. Introduction to Strategic Controlling 1.1 Need for a strategic Controlling (cost management) 1.2 Cost management vs. traditional cost accounting 1.3 Proactive vs. reactive cost management 1.4 Overview of the course contents 2. Traditional tools of cost management 2.1 The investment theoretical approach to cost accounting 2.2 Break-even analysis 2.3 Learning curve 24
Strategic Controlling (2 weekly hours) 3. Modern tools of cost management 3.1 Life cycle costing 3.2 Target costing 3.3 Activity - based costing (ABC) 4. Benchmarking 4.1 Foundations of Benchmarking 4.2 Benchmarking with Data Envelopment Analysis 25
Value-based Controlling (2 weekly hours) Outline: 1. Introduction 1.1 Motivation 1.2 Shareholder and other Stakeholder 1.3 Accounting and key financial performance indicators (KPI) 1.4 Application of traditional key performance indicators 1.5 Shortcomings of traditional performance indicators 2. Capital structure and firm value 2.1 Capital structure irrelevance 2.2 Leverage effect 2.3 Capital structure and taxes 26
Value-based Controlling (2 weekly hours) 3. Shareholder value approach 3.1 Basics 3.2 Capital costs 3.3 Residual value 3.4 Example of shareholder value calculation 3.5 The concept of shareholder value-added (SVA) 3.6 Threshold margin 4. Discounted cash flow methods 4.1 Basics 4.2 Entity methods 4.3 Equity method 27
Value-based Controlling (2 weekly hours) 4.4 Valuation in the case of insolvency 4.5 Summary 5. Overview of value-based KPIs 5.1 The residual income concept 5.2 Cash flow oriented value added KPIs 6. Implementing a value-based strategy 6.1 Strategy formulation 6.2 Strategy evaluation 6.3 Issues on the corporate level 6.4 Case studies 6.5 Basic principles of the SVA approach 28
Value-based Controlling (2 weekly hours) 7. The Ohlson Model (1995) 7.1 Assumptions 7.2 Linear time series models 7.3 The linear information model of Ohlson (1995) 7.4 Valuation equation 7.5 Overview of the model 7.6 Application of the Ohlson model 7.7 Conclusion 29
Risikocontrolling (2 weekly hours) Outline: 1. Einführung und gesetzliche Grundlagen 2. Aufbau und Durchführung eines Risikofrüherkennungssystems 3. Aufbau eines Risikomanagementsystems 4. Risikomanagementsysteme bei WP-Gesellschaften 5. Compliance 6. Deutscher Corporate Governance Kodex 7. Prüfung des Risikomanagementsystems durch die Interne Revision 8. Prüfung des Risikomanagementsystems durch den Abschlussprüfer 9. Risikoberichterstattung 10. Fallbeispiel: Risikomanagementsysteme bei Kreditinstituten 11. Fallbeispiel: Bilanzskandale 12. Fallbeispiel: Risikomanagement im Bereich der Vermögensverwaltung External lecturer: WP StB Prof. Dr. J.-A. Lohr 30
Literature: Literature folder relating to the courses Operative and Strategic Controlling Value-based Controlling Ausgewählte Fragen des Controlling are available at the office for copying. Borrowing possible with deposit of the student ID! 31
Organizational Course material (1) 1. http://www.ilias.uni-koeln.de 2. Login to ILIAS 32
Organizational Course material (2) 3. Type in your user name of your S-Mail-Account 4. Password of your S-Mail-Account Please check http://www.ilias.uni-koeln.de for: Information about the S-Mail- Account Assistance for registration 33
Organizational Operative and Strategic Controlling in Ilias You will find all materials for both courses and exercises here: Magazin Veranstaltungen Wintersemester 2015/2016 KLIPS2 Wirtschafts- und Sozialwissenschaftliche Fakultät Fachgruppe Betriebswirtschaftslehre Accounting and Taxation 34
Ilias Password for all courses Password: Please check your e-mails on ILIAS regularly for important course information! 35
Why should you study Controlling? excellent job situation ideal focus e.g. in combination with Betriebswirtschaftlicher Finanzierungslehre (= Finance), Corporate Finance, Steuerlehre, Wirtschaftsprüfung, Statistik ideal complementary field (costs are important in all operational and managerial functions, e.g. Human Resource (HR) controlling, Marketing controlling, Production controlling, Logistics controlling, 36
Expectations What do we expect from our students? high commitment and motivation participation in lectures and exercises analytical thinking willingness for the formal analysis of problems What can our students expect from us? training of analytical thinking skills central controlling knowledge good support and exam preparation placement of real-world contacts hopefully interesting courses/events 37
Förderverein Controlling at the University of Cologne Promotion of: Active participation in international scientific conferences Research projects and workshops in the area of Controlling Exchange between theory and practice: Presentation by institutional staff members on current issues in Controlling Discussion forums for practitioners, students and staff on current problems in Controlling Placement of internships and thesis topics Jobs in Controlling (Registration for the career- and newsletter Controlling in Ilias) In addition: Alumni-Function 38
Supporters of the Förderverein Controlling 39
Career- und Newsletter Controlling Registration for the monthly newsletter in Ilias: Magazin Veranstaltungen Wintersemester 2015/2016 KLIPS2 Wirtschafts- und Sozialwissenschaftliche Fakultät Fachgruppe Betriebswirtschaftslehre Accounting and Taxation Allg. BWL und Controlling contains excellent job offers, trainees, internships, events etc. also see our bulletin board for these (http://www.controlling.uni-koeln.de/25711.html) 40