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Instructors: Associate Professor Denis Becker
Event type:
Seminar
Org-unit: Corporate Management & Economics
Displayed in timetable as:
Controlling
Hours per week:
3
Credits:
6,0
Note: In your exam regulations, differing credits may have been specified.
Location:
Campus der Zeppelin Universität
Language of instruction:
Englisch
Min. | Max. participants:
10 | 35
Priority scheme: Standard-Priorisierung
Course content:
Topic 1: Introduction to Management Accounting and Control
Topic 2: Using Costs in Decision Making
- Difference between costs and revenues in financial accounting versus management control.
- Classification of costs and revenues.
- Cost and revenue behavior.
- Identifying relevant costs and revenues for decision making.
Topic 3: Accumulating and Assigning Costs to Products and Services
- Absorption costing and direct costing.
- Job costing and process costing.
- Activity based costing.
- How to implement cost models in spreadsheets (Microsoft Excel or equivalent).
Topic 4: Using Budgets for Planning and Coordination
- Relationships between assets, liabilities, income, and cash flow.
- Functional and departmental budgets.
- Working capital planning.
- Simulation of future scenarios.
- Concept of Zero-based budgeting.
- Idea of “Beyond budgeting”.
- Setting up budgets and simulations in spreadsheets (Microsoft Excel or equivalent)
Topic 5: Capital Budgeting, Firm Valuation & Value-based Management
- Discounted-cash-flow methods (Equity, Free Cash Flow, and Adjusted Present Value).
- Weighted average cost of capital.
- Complete financial plan
- Life-cycle costing
- How to implement valuation models in spreadsheets (Microsoft Excel or equivalent)
Topic 6: The Balanced Scorecard and the Strategy Map
Topic 7: Selected Concepts of Strategic Management Accounting and Control
(Many of the following concepts will be discussed only shortly and conceptually)
- Target costing
- Kaizen costing
- Lean accounting
Educational objective:
This course provides the students with an understanding of management accounting concepts related to the management functions of planning, control, and decision making.
Learning outcomes and skills:
- The student will be able to critically analyze the operations of an organization through the application of management accounting techniques.
- The student can demonstrate mastery of costing systems, cost management systems, budgeting systems and performance measurement systems.
- The student knows the need for a balance between financial and non-financial information in decision making, control and performance evaluation.
- The student can effectively implement management accounting techniques by means of spreadsheet software (like Microsoft Excel).
Further information about the exams:
The exam will be of type "Endterm".
Detailed information concerning the exam will be provided when the cource commences.
Mandatory literature:
- Anthony A. Atkinson, Robert S. Kaplan & Ella Mae Matsumura. (2017). Management Accounting: Information for Decision-Making and Strategy Execution. Pearson Education.
- Srikant Datar & Madhav Rajan. (2017). Horngren’s cost accounting: a managerial emphasis. 16th edition. Pearson Education.
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