 Do you pursue a career in business? If you want to have more information on how to develop your language of business, please allow me to introduce our minor accountancy. I would like to introduce our minor accountancy based on an example from my daily life. I just went to Starbucks to buy a tall cappuccino, price 3.1 euro. If you think about this, if I pay this amount to the shop assistant, this shop assistant gives some input in the system that the cash of Starbucks has increased. This is crucial information that Starbucks will use later on to make all type of business decisions. However, if we think about this example in a more accounting context, this transaction will also have an effect on the inventory of coffee, on the amount of hot cups they have available for future clients. More information that ends up in the information system is the fact that a shop assistant is working there. There's electricity. They recently renovated the shop. All this information, this large amount of data, is used as an input in the information system. Now what is accounting in this context? Well accounting is actually everywhere in the information system of a company. And so the accountant needs to understand who has access to this data, how updates in the systems are controlled, how is information presented in the database, are there for example automatic reorder points installed in this whole big information system of the company and very important these days is this information safe? Is it protected against cyber attacks for example? So as an accountant it is important that you understand how a system, an information system in a firm is built and how it is protected, which risks are related to the use of big information systems. Once the information is in the database of course accountants use this information to for example make the financial statements of a firm. Financial statements are used by external stakeholders. Financial analysts, tax authorities, competitors, investors and so on. However, this information need to be available according to particular rules. So we need to understand what accounting rules are, do you use US GAAP, do you use IFRS? We have to understand the rules of the games to know how to value for example the shops that Starbucks owns. How to value a new firm that Starbucks has purchased. So we need to as accountants understand the rules of the games before we can present this information to our external stakeholders. And of course is the role of the auditor in this whole picture because the auditor controls if the data which is in the big information system, if this data is reliable and on the other hand the auditor also controls the financial statements and indicates whether tax authorities for example can rely on the information that is presented in these big booklets. So accounting has to do with information in the systems and also how it is presented to external people. On the other hand, the information is also used for internal decision making. For example, what is the cost of for example a cappuccino? How do we calculate the cost? How to select a supplier for new hot cups? There are different producers of this type of cups. But how to select the one that suits our business the best? Do we make our own coffee or do we buy coffee? Do we have our own beans or do we buy the coffee beans? Do we drop certain items from the menu? The new panini with chicken is probably not the most attractive for customers. Do we drop this or not? How to motivate our shop assistant is another very important decision to make within a company as Starbucks because the shop assistants are very crucial to give a good feeling to our customer. So all these questions they need to be or they are answered by accounts based on the information that we get out of the big information system within our company. So actually all these questions about the database, about the financial statement regulation, what the auditor has to do, what internal decision makers have to do, all these questions need to be answered based on accounting knowledge. Actually if you will work in business, if you plan to work as a professional accountant, you can work as an auditor. You can work as an IT auditor, as a CEO, as a tax advisor, a controller, a consultant. Actually all these functions that are presented here they all have in common that you need to understand the language of business and accounting is this crucial language that you need whatever function you will have in your future career in business. However to develop this language of business we offer our minor accountancy in which you find three courses, all the thing and accounting information systems, intermediate financial accounting and intermediate management accounting. Please allow me to very shortly introduce you these three courses to you. Accounting Information Systems. As indicated in the Starbucks example, it is very important that the firms have well developed information systems and the accounting information system is mainly focused on the financial information that a business needs to make all kinds of decisions. It is however very important that the risk within the system is as minimum as low as possible. That's why a second part of this course focus on the internal control mechanisms. So how can we make sure that the system is safe, that we can rely on the information that is presented there and how can we improve actually the system, the information, how can we improve the reliability of the information in the system? A third part of this course focuses on all the thing because the auditor has an important say in the internal control of the firm. So the auditor also looks at the information system within a firm and checks whether there are no gaps in this whole information stream. So the auditor looks at the internal system of a company and also checks of course the final numbers that a company wants to present to the external stakeholders. This course is given, the setup of this course are normal lectures but we also use quite some cases, guest lectures and also some research papers to give you a mix of all this experience within one course. The second course in our master is intermediate financial accounting. This course actually builds on your introduction financial accounting course but it goes a lot further. It goes to more complex topics. So this course focuses on the international financial reporting standards and it deals with topics such as leasing, financial instruments, consolidation, goodwill, R&D, etc. So the more complex topics are discussed in this quite technical course. This course will provide you information on how to prepare financial statements based on these accounting rules and on the other hand this course will also discuss how to analyze the financial statements that are indicated that are presented based on the international financial reporting standards. This course is also a combination of normal lectures and instruction lectures where exercises and cases are discussed together with you. The third course in our minor is intermediate management accounting. This course builds on your basic management accounting knowledge and also here we divide the course in two parts. You have cost accounting part and management control part. In cost accounting part you talk about activity based costing, budgeting and all kind of other information that is used by managers to make important decisions in their company. Management control talks about performance measures, hard controls, soft controls, about financial and also the increasing importance of non-financial incentives for top management within a company. This course is case based so in this course we make use of cases from Harvard, Vlierik and other international top schools to provide you with more insights in cost accounting and management control. I hope it is clear by this information that the three courses in our minor are crucial to get some more insights in the language of business, to develop your skills or your language of business. Actually these three courses are very useful if you think about following a master accountancy later on. Maybe some students, some people think about doing the post master accountancy, then of course these courses are an important step up to pursue your career as an auditor. Students that follow these courses can also smoothly go to the research master accountancy if you are more interested in research. I hope it is clear by this presentation that a minor accountancy is a great step to your career in accountancy. Thank you for having watched this video. If you have further questions don't hesitate to contact us. I hope I can welcome you very soon in our minor.