Management Accounting

Module contents
  • Traditional and modern activity based costing methods.
  • Justification of cost management and pricing decisions.
  • Financial business planning.
  • Investment assessment.
  • Financial control in the organisation.
  • Balanced scorecard.
  • Practical aspects of management accounting systems implementation in enterprises.
Module idea
The task of executives is to increase business value through the most efficient use of internal company resources. To be effective, a variety of process improvement solutions are commonly used, reviews of the product or service packages being sold and their pricing are evaluated, the revelation of investment projects are addressed and even decisions about the need for individual business are made. It is very important for managers not to make mistakes in assessing financial benefits of such decisions. This can only be short by objective accounting information provided by well-designed corporate planning and control systems.
The topics of this module of studies are set out in accordance with the sequence of business management functions: planning, decision-making, control. Management accounting and analytical methods are taught as decision support methods for each stage of this sequence. According to modern activity-based costing, module participants first learn to evaluate the costs of different objects. In solving practical tasks, they become skilled in using such information for managerial decisions. The module is completed with abstract topics such as management accounting and control systems.
Why these studies?
  • You will acquire methodological knowledge of how not to make mistakes when assessing the costs and value for the company of individual company divisions, products and their portfolio, as well as service projects or work. You will learn to accurately formulate your requirements for the information accounting systems implemented in the company.
  • You will learn which cost-effectiveness criteria should be applied in different situations, such as deciding on long-term or short-term pricing, outsourcing services or processes, improvement of resource utilisation.
  • You will be able to prepare simple forms of income, balance sheet and cash flow budgets that will help you to conveniently and quickly create change-sensitive business financial projections and analyse scenarios and risks.
  • You will better understand how organisations should focus their formal control systems of financial and non-financial indicators to the achievement of strategic objectives and how these systems can positively or negatively affect the behaviour of the entire organisation, its individual departments, employees and managers.
Module Manager
Assoc. prof. dr. Dalia Kolmatsui