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Content of the programme

Management Accounting

Course name: Management Accounting

Cluster: Finance

Period: International Business - Year 1

Semester: Spring Semester (starts in February)

Study load: 5 ECTS (~140 hours)

Exam: written exam

Course description

Management Accounting, also known as managerial accounting or cost accounting, focuses on providing financial information and analysis to help management make informed business decisions that contribute to the company's success. In this course we will look at production companies. The main objectives include cost accounting (defining cost prices), decision-making support (stop or continue, make or buy, investment decisions), planning and budgeting (setting financial goals, preparing budgets, and monitoring actual performance against these budgets).

Competences and learning objectives

After the course you can:

  • Describe various cost classifications and performing simple- cost (and revenue) calculations;
  • Make business decisions using break-even analysis, key factor analysis;
  • Compare absorption costing and direct costing and explaining the advantages and disadvantages of these methods;
  • Explain the time value of money and can make future – and present value calculations, both for single amounts and annuities;
  • Make Capital Budgeting Decisions using methods like Payback, Accounting Rate of Return, Net Present Value and Internal Rate of Return.