BUS210 Management Accounting

Introduction to basic methods and techniques related to managerial accounting and budgeting. The students will acquire knowledge and skills on data collection, analysis and interpretation and presentation of decision relevant information.

Key topics:

• A finance function`s role
• Types of costs and cost allocation
• Perspectives on pricing
• Activity Based Costing (ABC)
• Cost- volume- profit analyses and decision making challenges
• Budgeting and planning
• Performance evaluation
• Sustainability reporting

Upon completion of the course, the candidate will possess the following knowledge, skills and general competencies:

The candidate has:

• knowledge of managerial accounting's strategic value
• knowledge of different types of costs and different methods for cost allocation and calculation, including ABC calculation and is able to carry out cost- volume- profit analyses
• awareness of different pricing models, including transfer pricing
• knowledge of a traditional approach to budgeting, but also about new ideas and tools for planning, management and cost control
• the ability to discuss the purpose of budgets in general, the organising of the budgeting process and develop cash flow-, P&L- and Balance Sheet budgets
• knowledge of diverse financial and non-financial performance targets, and is able to evaluate advantages and disadvantages associated with them
• awareness of strategic management accounting models like the Balanced Scorecard, Economic Value Added (EVA) and Beyond Budgeting
• knowledge of how to measure and report sustainability

General competence:

The candidate can:

• is able to critically reflect on management control tools and their application in decision-making processes.
• is able to communicate management control-related issues to both economists and other stakeholders in a professional and precise manner.
• is able to apply management control principles in practical cases to distinguish between essential and less important information in decision-making situations.