Curricula

Objective

The object of the course
In the course, you become familiar with various management accounting methods. The object of the course is that you recognize the basic concepts of management accounting and cost accounting and the needs of companies' management accounting. You understand the principles of cost accounting and evaluate the importance of costs in different decision-making situations in the short and long term.

Course competences
Proactive development - Student is able to seek customer-oriented, sustainable and economically viable solutions, anticipating the future of the respective field.
Operating in a workplace - Student utilizes the opportunities offered by technology and digitalization in own work.
Business competence - Student is able to utilise knowledge-driven leadership to support decision-making.

The learning objectives of the course
You understand the importance of management accounting in business management, and you produce calculations for the company's internal use to support management decision-making. During the course, you apply theoretical concepts with the help of practical examples and develop your calculation skills, such as using different calculation models and methods to assess the financial situation of a company and predict the future. You review and analyze business-related processes and present development suggestions for them.

Content

The goal of the course is to give you basic information about cost accounting and its different methods. The course covers the theory and practices of cost accounting as well as various cost accounting methods and systems. You familiarize yourself with the concepts of cost types, cost centers and cost calculations and apply them to practical examples. In addition, the course introduces you to process management and digitalization, as well as covers the importance of automation in business. Activity-based-costing and activity-based-management, including customer, project, and process analysis, are also key topics, as well as inventory and its valuation and depreciation.

Qualifications

Pricing strategies and methods
Cost-volume-profit thinking and break-even analysis
Profitability and cost concepts
Budgeting (profit budget, cash budget, balance sheet forecast)
Impact of financing/capital structure to profitability

Assessment criteria, satisfactory (1)

Sufficient 1
You know the basic concepts of management accounting and cost accounting and the needs of companies' management accounting. You understand the utilization of management accounting in business management, and you produce operational accounting calculations as instructed. You name factors related to costs from the point of view of management accounting and you know which factors affect profitability. You name the company's basic processes from an operational management point of view and you know which processes affect profitability. You tell the basic principles of activity-based-costing in your own words.

Satisfactory 2
You present the basic concepts of management accounting and cost accounting and the needs of companies' management accounting, and you apply these in various management accounting situations. You understand the use of management accounting in business management, and you produce management accounting calculations with instructions and seek advice if necessary. You analyze the costs of an example company. You present the company's basic processes from the point of view of operational control and you recognize the factors related to controlling profitability. You understand the principles of activity-based-costing and activity-based-management. You utilize theories to prepare illustrative and consistent analysis.

Assessment criteria, good (3)

Good 3
You outline the basic concepts of management accounting and cost accounting and the needs of companies' management accounting. You understand the use of management accounting in business management, and you produce calculations independently. You structure the company's basic processes and classify the steps of the processes from the point of view of operational control, and you describe the impact of the processes on profitability. You make an activity-based-management analysis and profitability analysis based on activity-based-costing.

Very good 4
You assess the management accounting needs of different companies. You understand the use of management accounting in business management, and you produce demanding calculations independently. You evaluate the company's basic processes and calculation methods from the point of view of controlling profitability. You develop profitability analyses based on activity-based-costing. You analyze the cost structure of an example company and identify cost saving opportunities.

Assessment criteria, excellent (5)

Excellent 5
You plan the needs of the company's management calculation in different example companies. You understand the use of management accounting in business management, and you produce demanding calculations independently and you take responsibility for the correctness of the calculations. You plan and develop the company's calculation and basic processes from the point of view of controlling profitability. You plan activities and processes related to activity-based-costing inside a company to influence the formation of the company's profitability.

Further information

The course is mandatory for the students of financial control. The course is recommended for the managing resilience students.