MU11183 Managerial Accounting

Mathematical Institute in Opava
Summer 2015
Extent and Intensity
0/2/0. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
Ing. Jan Hromada (seminar tutor)
Guaranteed by
Ing. Jan Hromada
Mathematical Institute in Opava
Prerequisites (in Czech)
MU11182 Accounting Fundamentals
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
Course objectives
To clarify content and information ability of accounting for management. To show that the management accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources. To show that management accounting is a part and parcel of information support for top management at their company management. To give an examples in practice.
Syllabus
  • 1. Financial, cost and management accounting, controlling
    - To define enterprise and entrepreneurship
    - To define managerial accounting and distinguish it from the goals of accounting for external users and tax legislation
    - To characterize relationship between controlling and management accounting
    2. Overview of enterprise internal structure
    - To define internal structure of activities within enterprise and their classification
    - To characterize performance-related line management-cost-performance accounting
    - To characterize responsibility through the line management-responsibility accounting
    - To outline principles of one-circle and two-circle accounting information system of enterprise
    3. Cost accounting, cost management
    - To clarify the interpretation of costs in cost accounting and difference with financial accounting
    - To characterize criteria of cost classification
    - To define the basis of variable and fixed costs and their utilization for business performance management
    - to explain the methods of estimation of fixed costs, the cost function
    4. Plan and budget
    - To define content and function of plan and budget
    - To clarify the process and phases of budget making, types of plans
    - Creating budget Profit and loss statement
    - To clarify basic methods of budgetary control
    5. Costs calculation (costing)
    - To define the concept of costing
    - To clarify basic methods of costing
    - To express the structure of costs in costing, distinguish costing formulas
    - To clarify the relationship between budget and cost calculation
    6. Costs allocation
    - To characterize direct and indirect costs in relation to costing unit
    - To define methods of assigning costs
    - To characterize causal relationship between calculated costs and outputs
    - To clarify reasons for indirect costs allocation
    - To characterize phases of allocation
    7. Criteria of the management of effectiveness
    - To define criteria for value management of business process
    - To characterize indicators for measuring economic effectiveness
    - The application of EBIT, EVA indicators
    - Using Altman Z-Score for risks identification
    - The Pareto Principle
    - Example: EVA concept as the key financial indicator within MODEL Group
    8. Issues of costs, revenues and profit management
    - To define the basis of variable and fixed costs within management accounting
    - To characterize profitability indicators in outputs calculation ? profitability index, gross margin, contribution margin
    - Application of the Breakeven point indicator
    - To display utilization of calculation of full and variable costs in value management
    9. Calculation system and its utilization by management
    - To define relevance and utilization of calculation as a basic instrument of performance-related line management
    - To characterize preliminary cost calculation and resultant cost calculation
    - Deviations analysis
    10. Management strategic system, Balance Scorecard (BSC)
    - To understand the relevance of strategy as an instrument for management improvement in companies (strategically oriented management acccounting)
    - SWOT analysis
    - To define four perspectives ? Financial, Customer, Internal Business Processes, Learning and Growth
    - Example: Implementation of BSC in MODEL Group ? Model Strategy Cockpit (MSC)
    11. Internal pricing
    - To define types of internal prices
    - To clarify the principle of internal pricing of finished products and work-in-progress
    - To clarify the ?Arm?s length? principle
    12. Investment decision.
    - deciding on future capacity
    - the basic situation of investment decision
    - to explain the net present value (NPV)
    - examples
Literature
    recommended literature
  • HROMADA, Jan, MELECKÝ, Jan. Cvičebnice pro podnikovou ekonomiku a controlling. Opava, 2013. URL info
  • KAPLAN, R. S., NORTON, D. P. Balance Scorecard. Praha: Management Press, s.r.o., 2007. ISBN 978-80-7261-177-5. info
  • FIBÍROVÁ, J., ŠOLJAKOVÁ, L., WAGNER, J. Nákladové a manažerské účetnictví. Praha: ASPI, a.s., 2007. ISBN 978-80-7357-299-0. info
  • KRÁL, B. A KOL. Manažerské účetnictví - 2. rozšířené vydání. Praha: Management Press, 2006. ISBN 80-7261-141-0. info
Teaching methods
Lecturing
Assessment methods
Credit
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Teacher's information
To understand differences between management accounting for internal user and management and goals of accounting for external users. To be able to describe key concepts such as controlling, calculation, margin, contribution margin, cost allocation, EBIT, EVA etc. To understand the criteria for cost classification, to be familiar with the basis of variable and fixed costs and their usage for management. To be able to clarify basic methods and structure of cost costing.
The course is also listed under the following terms Summer 2010, Summer 2011, Summer 2012, Summer 2013, Summer 2014, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2020, Summer 2022, Summer 2024.
  • Enrolment Statistics (Summer 2015, recent)
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