154-0591/01 – Management Accounting (MA)
| Gurantor department | Department of Finance | Credits | 5 |
| Subject guarantor | Ing. Karolina Lisztwanová, Ph.D. | Subject version guarantor | Ing. Karolina Lisztwanová, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 3 | Semester | winter |
| | Study language | English |
| Year of introduction | 2023/2024 | Year of cancellation | |
| Intended for the faculties | EKF | Intended for study types | Bachelor |
Subject aims expressed by acquired skills and competences
The course provides a basic framework for cost management and managerial accounting.
After completing the course, the student should acquire the following skills and competencies:
- identify a different concept of costs in the case of financial cost
and management accounting,
- classify costs and determine their amount in the future,
- know the essence of the allocation of costs to the defined objects of the
allocation,
- the ability to draw up a budget for the future period, including its control
and evaluation,
- evaluate the performance of the company through financial and non-financial
criteria.
Teaching methods
Lectures
Tutorials
Summary
Graduates of the course will be able to orient themselves in the field of cost management with an emphasis on the use of cost and managerial accounting principles, creating calculations, creating and controlling the budget, and performance management.
The seminars focus on determining the cost budget, calculating performance, and capturing costs in internal accounting, including final reporting.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
Credit test and exam
E-learning
Contact the teacher in the office during consultation hours; electronically by email, or in the LMS.vsb.cz environment; by MS Teams.
Other requirements
There are no additional requirements for the student.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1) Management accounting: basic variables of economic management, financial
accounting, management accounting, and cost accounting
2) Costs and cost terminology, cost classification (direct costs, indirect
costs, overhead costs, variable costs, fixed costs)
3) Methods for estimation of fixed and variable costs. Cost, volume, and
profit analysis
4) Forms of cost accounting system, the definition of the subject of
costing, the principle of areas of responsibility, the principle of the
place and cause of the occurrence of costs
5) Cost allocation. Allocation of direct and overhead costs, under-
allocated and overallocated costs, inventory costing, and capacity
analysis
6) Absorption and variable costing, their main characteristics, and the
reasons for their use
7) Activity-Based Costing system and Activity Based Management,
implementing Activity -Based Costing
8) Target costing, life cycle costing
9) Budgeting: aim of budgeting, source of information, forms of budgets,
master budget, and responsibility accounting
10) Budgeting: capital budgeting and cost analysis, control of the
implementation of budgets, flexible budgets
11) Standard costing: the essence of the method, determination of standards,
analysis of variance, direct-cost variances and management control,
overhead cost variance and management control, the impact of it on
changes in budgeting
12) Decision-making and relevant costs, opportunity costs and outsourcing,
the irrelevance of past costs, decisions, and performance evaluation
13) Performance measurement- financial and nonfinancial performance
measures, accounting-based measures for business units, target levels of
performance and feedback
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
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