Objectives: This course introduces students to understand ecclesial finance in accordance to the core principles of the Code of Canon Law part III of the synodal final document. It covers ecclesial business models and the purpose of financial statements.

These course gives necessary skills to effective manage ecclesial financial transactions and its recordings. The obtained knowledge will improve the quality of understanding financial statements to give a true and fair view incorporation ethical standards. This will ease the communication with confidence at all levels. With the view of a controller, being a managerial accounting business transactions are translated and analyzed in financial information to draw appropriate decisions.

Contents: This course covers ecclesial business models and the purpose of financial statements.

Accounts- Payable, Receivable, Cash- and Bank Cycles are are repeated and deepened. In the Budgeting Process, “hands-on” experiences will be presented to the students - how to prepare an operating budget and how to analyze it. How to prepare a business model is covered in theory and with a practical examples. Throughout the course auditing and minimum controls will be covered for selected financial processes.

Methodology: The course will be provided through frontal lectures and interactive discussions. Full attendance is required for all units, absences can be excused formally prior to the lecture or in case of sickness sharply afterwards. Students are required to read the assigned materials prior to the lectures, work on practical examples in class and prepare and submit homework. Time for oral participation is given in class group work discussions and exercises, in class homework revisions and small presentations. The homework is corrected together in class and the students have the opportunity to resubmit the corrected homework. The use of a computer (MS Excel, Libre Office Calc) and/or calculator (no smart phone calculators) is recommended.

Means of evaluation: The grade will be determined by the relative performance of the following components: Attendance and participation (30%); Homework (individual incl. corrections) (20%); Group case study / Paper and presentation (20%); Final exam (30%)