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Course background:
Management accounting is a principle function in modern management, regardless of type of organisation. All companies - large and small, manufacturing or service, public and private - must use management accounting in order to act in an international competitive situation, implement and evaluate strategic initiatives as well as ensure achievement of goals and optimal use of resources.
Today, finance and accounts departments have a variety of tasks, including cost assessment, analyses of business initiatives, follow-up and ad hoc analyses for the management. The financial system is part of the information system used by the management when establishing a basis for making concrete future decisions. Thus, management accounting forms the basis of the company's decision-making processes and is crucial in this regard.
The objective of the course is, therefore, to provide the student with the tools used to perform the financial analyses in the company's decision-making processes.
The course is directly related to ‘Operations and Supply Chain Management', ‘Planning Models within Management Science', ‘Marketing', ‘International finance' and ‘Financial accounting'.
THE CENTRAL ISSUES OF THE COURSE:
- Cost understanding and cost allocation systems
- Price determination, price management
- Budget as management tool, budget control
- Decentralisation in an organisation
Performance analysis, balance scorecard and key performance indicators.
The previous semester must be passed
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Lectures and exercises
The booklist will be available on BlackBoard, the E-learning portal used by AU-IBT
In groups of 3-4 students, a case report of maximum 25 A4 pages (+ appendices and a well-functioning Excel sheet) is prepared.
The report is prepared in the courses 'Management Accounting 1' and ‘International Finance'. An individual oral examination is carried out on the basis of the report. Half of the students are examined in the course 'Management Accounting 1' while the other half is examined in ‘International Finance'. One mark is given for the case report and the oral presentation. 24 hours prior to the examination, the students will be informed about the examination course.
Reexamination
A new case report based on a new case and new problems must be prepared, followed by an oral examination. In case less than five students attend the reexamination, the case report may be replaced by a 40-minute oral examination (in ‘International Finance' as well as ‘Management Accounting') without preparation and the use of aids.
