Knowledge: The students can explain the role of managerial accounting, finance and management control in the business. They know principles and methods of compiling of the financial plan (strategic and operational). Students also know various methods for financial performance evaluation. Moreover, they are aware of criticism of financial ratios. They know how to describe the basic strategic investment decision-making tasks. Also they know how to raise additional capital in the business and are able to perform calculation of capital costs.

Skills: Students are able to create both, strategic and operational financial plan. They can analyze deviations from established plan. They are able to choose the appropriate approach to measuring and considering risks and costs, especially in strategic investment decision making,.

Abilities: Students are able to develop strategic and operational plan. They can compare this plan with current status, to analyze variances and find their causes. They are able to comprehensively judge the financial efficiency of business as well as investment project. Students are able to orient themselves in financial and managerial accounting topics, can make oral presentations on their work and carry responsibility for the correctness of their results.

For study of the course, students must have/be able to:

• A knowledge and understanding of the content of financial statements.
• An ability to solve equations and calculate minimum and maximum values of functions, working out function graphs in various rasters.
• Knowing the relationship between graphs and numerical formulation.
• A knowledge of structure and creation of the business’s strategic and operational plan including relations among its parts.

The course is made up of lectures that explain the basic principles, problems and methodology of the discipline. The lectures combines theory with illustrative solutions of examples. Lectures are given weekly and each lasts for 100 minutes. There is 6 lectures in total.

Seminars support particular practical knowledge of the material presented in the lecture. Seminars are held every week and each lasts for 100 minutes. There are 6 seminars in total.

Requirements for gaining the credit:

1 credit test at previously set date. The test will include 4 examples, the maximum score from test is 40 points. To pass the test a score of at least 60%, i.e. 24 points, is needed. The test can only be resat once. The credit test lasts 60 minutes.

Examination requirements:

Knowledge is verified by a written examination. Only students who have applied in university information system and have the credit entered will be allowed to sit the examination. The examination is made up of 6 theoretical questions. The written examination lasts 60 minutes. The maximum score for the written examination is 60 points. To pass the test a score of at least 60%, i.e. 36 points, is needed.The resulting assessment of the course is the sum of the points scored from the credit test and written examination. 

1. Basic related terminology: Introduction to Financial Management, Accounting and Controlling; Fundamentals of Financial Management in Business Strategy
2. Raising Capital and Sustainable Performance Growth: Optimal Capital Structure, Cost of Capital, Business Value, Economic Value Added
3. Financial performance and financial strategy evaluation: Performance measurement beyond financial; Financial ratios; Financial strategy modelling
4. Strategic and operational financial planning: Purposes of planning; Planning cycles; Principles of strategic and operational financial planning
5. Operational financial decision making: Net working capital; Money turnover cycle, Optimizing net working capital
6. Strategic investment decision making: Principles and assumptions; Methods for efficiency evaluation and their limits; Risk in investments, investment portfolio

The main objective of the course is to introduce students with essential concepts, current trends and challenges in the area of the managerial accounting and finance management and control main processes, such as strategic planning and budgeting, financial performance measurement, operational financial desicion making, strategic investment decision making, all with special focus on international businesses.

Attendance at lectures is not compulsory, but is recommended. Attendance at seminars is checked by the tutor. Lessons are composed on the basis of weekly schedules. Way of substituting missed lessons is fully in competence of a teacher.

• compulsory prerequisite
  • International Finance
  • Contemporary Issues in European Management Accounting

CHARIFZADEH, Michel and Andreas TASCHNER, 2017. Management accounting and control: tools and concepts in a Central European context. Weinheim: Wiley-VCH. ISBN 978-3-527-50821-1.

MERCHANT, Kenneth A and Wim A VAN DER STEDE, 2012. Management control systems: performance measurement, evaluation and incentives. 3rd ed. New York: Financial Times/Prentice Hall, 815 p. ISBN 02-737-3761-9.

BAKER, H. Kent and Philip ENGLISH, 2011. Capital budgeting valuation: financial analysis for today's investment projects. Hoboken, N.J.: John Wiley. ISBN 978-0-470-56950-4.

BERGER Alexander, 2011. Standard Costing, Variance Analysis and Decision-Making. GRIN Verlag. ISBN 978-3-6409-5598-5.

COKINS, Gary, 2009. Performance management: integrating strategy execution, methodologies, risk, and analytics. Hoboken, N.J.: Wiley. Wiley and SAS business series. ISBN 978-0-470-44998-1.

DAMODARAN, Aswath, 2012. Investment valuation: tools and techniques for determining the value of any asset. Third edition. Hoboken: John Wiley. Wiley finance series. ISBN 978-1-118-13073-5.

• Programme MGR-Z Master's

  branch MGR-Z , 1. year of study, winter semester, elective
  

• Programme MGR-EBF Master's, 2. year of study, winter semester, compulsory
  
• Programme MGR-IBM Master's, 2. year of study, winter semester, compulsory
  

1. Cost-Volume-Profit analysis in planning.

2. Single-step and multi-step calculation and use of contribution margin.

3. Budgeting, target costing, zero based budgeting.

4. Investment efficiency evaluation.

5. Variance analysis (standard costing).

6. Final test.