Management Accounting (5 cr)

Evaluation scale

0-5

Content scheduling

To be passed need time to stydy weekly.

Objective

The object of the course
Management accounting focuses on providing information for internal decision makers. This course will provide you with the basic knowledge and capabilities of management accounting.

Competences
Business competence
Sustainable development

The learning objectives of the course
In this course, you will learn the basics, logic, principles and methods of management accounting. You are capable of preparing cost-volume-profit calculations for determining the costs and profitability. You are able to identify and examine factors impacting profitability from the perspective of management accounting. You are able to review costs and analyze factors impacting pricing and discounts as well as put forward development proposals for them. You are able to prepare master budgets from the given material. You know the concept of balanced scorecard and its role from management accounting point of view.

Content

The course covers the role of management accounting, cost and profit concepts, cost-volume-profit analysis, pricing and discounts, basics of cost accounting, capacity and utilization rate, budgeting, and spreadsheet tool. Basic terms also in English.

Materials

Jormakka, R., Koivusalo, K. Lappalainen, J. & Niskanen, M. 2015. Laskentatoimi. EditaPrima. Luvut 7–9 ja 11.
Skousen, J. & Walther, L. M. 2010. Introduction to Managerial Accounting: Managerial and Cost Accounting. London: Larry M. Walther, under nonexclusive license to Christopher J. Skousen and Bookboon.

Teaching methods

Webinar learning
Independent learning assignments
Business simulation as a group work

Employer connections

More exact information on the work placements linked to the course shall be provided by the teacher during the first contact lessons of the course.

Exam schedules

The exam will be during week 41. The resit exams will be held during weeks 41-43.

Completion alternatives

A corresponding course completed in another university may be accredited partially or completely. Competence acquired through informal learning may be recognized and accredited on the basis of competence test. More precise instructions can be found in Degree Regulations and in Study Guide.

Student workload

Allocation of time on various tasks and student work load in total 135h
Lectures and exercises 20 h
Independent study and independent learning assignments 35 h
Business simulation 80 h


To be passed need time to stydy weekly.

Theacher guiides throug lectures and through Moodle.

Assessment criteria, satisfactory (1)

Adequate 1
You are able to name concepts of profitability and costs from the management accounting point of view and know which factors affect profitability. You understand the basic principles of cost-volume-profit analysis and are able to prepare a basic cost-volume-profit calculation. After completing the course, you will be able to explain the basic principles of pricing in your own words. You recognize factors affecting the balanced scorecard and are able to name key factors in cost accounting. Assignments need additional guidance and clarification. You can apply the information with guidance and with more detailed instructions. You take responsibility for your own work and follow the given schedules, but challenges with the group or desire to do without the group.

Satisfactory 2
You are able to present factors affecting to profitability from the management accounting point of view and recognize the factors related to the management of profitability. You are able to prepare cost-volume-profit and pricing calculations for an example company under guidance. You recognize factors affecting the pricing in the example company and are able to name key factors in pricing in companies operating in different industry sectors. You are able to interpret budget and balanced scorecard as well as costs in the example company. You act responsibly for your own work, ensuring that the joint output is completed on time.

Assessment criteria, good (3)

Good 3
You are able to outline cost-volume-profit analysis and calculations, itemize the process steps from the management accounting point of view and describe the impact of cost-volume-profit based analytical profit calculation factors on profitability. You are able to prepare error-free cost-volume-profit and pricing calculations as well as apply these methods for decision making. You are able to carry out profitability analysis based on cost-volume-profit and pricing calculations. You are able to prepare master budgets and budget comparison and define the factors affecting budgeting in the example company as well as define the key factors in balanced scorecard in companies operating in different industry sectors. You will be able to direct and organise the activities of the group and take responsibility for meeting assignments and schedules.You take the initiative and organise the goal-oriented activities of the group by taking responsibility.


Very Good 4
You are able to assess the impact of cost-volume-profit analysis from the management accounting point of view. You are able to develop profitability analysis as an analytical profit calculation based on cost-volume-profit and pricing calculations. You are able to define the impact of budgeting in the example company and the significance of balanced scorecard in companies operating in different industry sectors. Basic terms also in English.You take the initiative and organise the goal-oriented activities of the group by taking responsibility.

Assessment criteria, excellent (5)

Excellent 5
You are able to plan cost-volume-profit analysis and sensitivity analysis for alternative action plans from the management accounting point of view. You are able to plan active measures related to cost-volume-profit and pricing calculations to influence the company’s profitability. You are able to assess the impact of budgeting in the example company and report the actions taken based on it and the impact of balanced scorecard in companies operating in different industry sectors. Basic terms also in English.You can guide others’ work. You work in good cooperation and actively guiding the group in its goal-oriented activities and you are able to find solutions to possible group work conflicts.

Further information

The assessment in the course is based on the competence demonstrated in the exam (50 %, 2,5 ECTS credits), in independent learning assignments (10 %, 0,5 ECTS credits) and in business simulation done as a group work (40 %, 2,0 ECTS credits). The exam of the course has to be passed before business simulation.
Open university of applied sciences (8) included in capasity.