FIUNAMAC Managerial Accounting

School of Business Administration in Karvina
Winter 2022
Extent and Intensity
1/2/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Markéta Skupieňová, Ph.D. (lecturer)
Guaranteed by
Ing. Markéta Skupieňová, Ph.D.
Department of Finance and Accounting – School of Business Administration in Karvina
Contact Person: Ing. Irena Szarowská, Ph.D., MPA
Course Enrolment Limitations
The course is offered to students of any study field.
Syllabus
  • 1. Managerial Accounting
    The differences between domestic (national) and international (foreign) marketing are examined to properly understand the three main variants of international marketing – export, global, and intercultural. Active and passive motives to enter new market are thoroughly explained.
    2. Cost Concepts and Process Costing
    Cost concepts and process costing are described through general cost classifications, product costs, period costs and cost classifications for predicting cost behaviour, the analysis of mixed costs, direct cost and indirect cost. Job order costing, comparison of job order costing and process costing, cash flow in process costing, operating costing and equivalent units of production are explained in detail focusing on the principles of managerial accounting.
    3. Calculation System
    Calculation system is based on understanding the basics of cost-volume-profit analysis, target profit and break-even analysis, variable and absorption costing, advantages of variable costing with absorption costing income, nonmanufacturing costs and activity-based costing, manufacturing costs and activity-based costing, cost pools, allocation bases, the mechanics of activity-based costing and targeting process improvements.
    4. Budgets and Performance Analysis
    Budgets and performance analysis is described through the basic framework of budgeting, preparing the master budget, flexible budgets, flexible budgets with multiple cost drivers, using standard costs-direct materials variances and direct labour variances including the materials quantity variance, the materials price variance, labour efficiency variance and labour rate variance, general model for standard cost variance analysis and international uses of standard costs.
    5. Performance Measurement
    Performance measurement is examined to properly understand decentralization in organizations, responsibility accounting, evaluation investment centre performance including return on investment, residual income, operating performance measures, balanced scored. Differential analysis includes cost concepts for decision making, opportunity cost, special orders and utilization of a constrained resource and join product costs and the contribution approach.
    6. Financial Statement Analysis
    Financial statement analysis includes limitations of financial statement analysis, statements in comparative and common-size form, ratio analysis and target costing. Mentioned is also statement of cash flows and capital budgeting. Capital budgeting is described through planning investments and discounted cash flows including the net present value method, the internal rate of return method and expanding the net present value method.
Language of instruction
English
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