OPF:FIUNANMU Managerial Accounting - Course Information
FIUNANMU Managerial AccountingSchool of Business Administration in Karvina
- Extent and Intensity
- 1/2/0. 5 credit(s). Type of Completion: zk (examination).
- Ing. Markéta Šeligová, Ph.D. (lecturer)
Ing. Markéta Šeligová, Ph.D. (seminar tutor)
- Guaranteed by
- doc. Dr. Ing. Jaromír Lazar
Department of Finance and Accounting - School of Business Administration in Karvina
- Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Accounting and Taxes)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Business)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Corporate Finance)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Marketing and Trade)
- Course objectives
- Managerial Accounting builds on the basic knowledge of accounting, based on the definition of the differences in the content and concepts of financial and managerial accounting. The main attention is devoted to understanding the nature and diversity of accounting information for management along the line outputs (product-oriented accounting) and management along the line of accountability (responsibility accounting). The course is given to approaches breakdown of costs for management (prime and overhead, direct and indirect, variable and fixed). The content of the course are the basic tools of value management - a system costing, budgeting and transfer pricing. Then it comes to the application of acquired knowledge in value management, in particular economic structure centers, understanding the relationship of its profits and earnings resorts. After successful completion of the course, students should be able to choose the appropriate in-house business management systems in relation to different decision-making tasks that control workers to solve. Furthermore, propose management accounting, recommend amendments thereto, is clearly justified. Create a model of evaluation performance management centers and profit enterprise as a whole.
- Managerial Accounting
The differences between managerial and financial accounting are explained as well as the management accountant in the organization and managerial accounting in the management process. Strategic management skills, enterprise risk management skills, process management skills, leadership skills, measurement skills, the importance of ethnics in business and corporate social responsibility are examined to properly understand principles of managerial accounting.
Cost Concepts and Process Costing
Cost concepts and process costing are described through general cost classifications, product costs, period costs, cost classifications for predicting cost behavior, 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.
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.
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 labor variances including the materials quantity variance, the materials price variance, labor efficiency variance and labor rate variance, general model for standard cost variance analysis and international uses of standard costs.
Performance measurement is examined to properly understand decentralization in organizations, responsibility accounting, evaluation investment center performance including return on investment, residual income, operating performance measures, balanced scored. Differential analysis includes cost concepts for decision making, opportunity cost, special orders, utilization of a constrained resource and join product costs and the contribution approach.
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.
- Managerial Accounting
- required literature
- WARREN, C.S., REEVE, J.M. and J.E. DUCHAC. Managerial Accounting. USA: Cengage Lending, 2014. ISBN 978-1-285-86880-6. info
- GARRISON, R. H., NOREEN, E. W. and C. P. BREWER. Managerial Accounting. New York: McGwaw-Hill, 2011. ISBN 978-0-07-811100-6. info
- JIAMBALVO, J. Managerial Accounting. 4th ed. . John Wiley & Sons, Inc., 2009. ISBN 978-0-470-33334-1. info
- recommended literature
- RICH, J.S., JONES, J.P., HEITGER, D.L., MOWEN, M.M and D. R. HAN. Cornerstones of Financial & Managerial Accounting. USA: South-Western Cengage Learning, 2012. ISBN 978-0-538-47348-4. info
- HEISINGER, K. Essentials of Managerial Accounting. USA: South-Western Cengage Learning, 2009. ISBN 978-0-618-9. info
- PROCTOR, R. Managerial Accounting for Businesses Decisions. 3rd ed. England: Pearson Education Limited, 2009. ISBN 978-0-273-71755-3. info
- Teaching methods
- Lecture with presentation in Power-point
- Assessment methods
- Language of instruction
- Further comments (probably available only in Czech)
- The course can also be completed outside the examination period.
- Teacher's information
attendance in seminars 50%, ongoing test, case study
Activity Difficulty [h] Ostatní studijní zátěž 47 Přednáška 13 Seminář 26 Zápočet 30 Summary 116