Course detail
Managerial Accounting
FP-muKAcad. year: 2022/2023
The course focuses on the following areas:
- The characteristics of cost, financial and management accounting and their development in the current economic context and the basic differences (e.g. valuation, cost classification, reports, concept of depreciation, etc.) between in-house and financial accounting
- The links between financial statements and analytical methods (e.g. Porter’s Five Factor Model, SWOT analysis, etc.) and obtaining information from them for risk identification
- Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – and single-entry and double-entry accounting
- Influence of the character of business on performance-oriented accountancy (simple, phased, tiered and custom accounting, and associated performance)
- Standard cost method – basic concept, types of standard, deviations from standards and their analysis, the specifics of the method according to the conditions of production (influence of technology and the organisation of production, pooling), the use of principle of differential methods for overheads
- Departmental and responsibility accounting – describing the issues, preconditions for effective functioning, economic structure of the enterprise
- Reporting - basic concepts, importance and role, characteristics, types, implementation issues, requirements for effective reporting, producing reports
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Learning outcomes of the course unit
Skills: The student can comprehensively analyse and evaluate the current state of the in-house information system as a tool for managing costs and efficiency. They are able to find means for its optimization with respect to the specifics of creating performance so that mainly through timely reporting it can provide the information needed for decision-making at different management levels.
Abilities: They know how to gain information from financial statements that can be used in carrying out analyses (of the type of Porter’s Five Factor Model and risk analyses).
They can independently solve tasks linked to the selection and implementation of means of displaying and tracking costs, revenues and profit through the single-entry and double-entry organisation of accountancy with regard to the influence of the type of business on performance-oriented and responsibility accounting.
They know how, with the aid of the Standard Cost Method, to ascertain and analyse deviations in various types of production and also in overheads.
Prerequisites
Co-requisites
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
25%
b) work on an example of the implementation of single-entry and double-entry accounting system on the basis of an individual assignment given by the teacher. The work can be submitted progressively, at the latest by week 13 of the semester. 20%
Examination requirements:
Knowledge is tested in an oral examination.
Students will only be admitted to the examination who have applied and send both assigments at the latest by week 13 of the semester.
The examination involves responding to two open questions, which the examiner gives the students in writing. The student has time to prepare these, which they can do also in writing (essential is the capacity for practical application) and then they present this orally to the examiner. 55%
The resulting assessment of the course is the sum of the assessment of the seminars and the examination. The assessment is classified according to the ECTS scale.
Course curriculum
1. The characteristics of cost, financial and management accounting and their development in the current economic context.
2. Basic differences (e.g. valuation, cost classification, reports, concept of depreciation, etc.) between in-house and financial accounting.
3. The links between financial statements and analytical methods (e.g. Porter’s Five Factor Model, SWOT analysis, etc.).
4. The links between financial statements and risk recognition.
5. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – single-entry organisation of accountancy
6. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – double-entry organisation of accountancy
7. The influence of the character of business on performance-oriented accountancy (simple, phased, tiered and custom accounting, and associated performance).
8. Standard Cost Method – basic concept, types of standard, deviations from standards and their analysis.
9. Specific features of the Standard Cost Method according to the conditions of production (influence of technology and the organisation of production, pooling).
10. Specific features of the Standard Cost Method (the use of principle of differential methods for overheads).
11. Departmental and responsibility accounting – describing the issues, preconditions effective functioning, economic structure of the enterprise.
12. Reporting (basic concepts, characteristics, types)
13. Reporting (requirements for effective reporting, producing reports)
Work placements
Aims
- to understand the importance of, development and relations between financial, cost and management accounting and understand the significance of the influence of the type of activity of the enterprise on cost accounting
- to gain theoretical and practical skills in the use of financial statements as a source of information for selected analytical methods and risk analysis
- to gain theoretical and practical skills implementation of the single-entry and double-entry organisation of accountancy
- to learn the principles of the Standard Cost Method and the possibilities for its use in serial piece, homogeneous and associated production, and also for overheads
- to understand the significance , principles and basic applications of responsibility accounting
- to gain theoretical and practical skills for the producing of reports.
Specification of controlled education, way of implementation and compensation for absences
Recommended optional programme components
Prerequisites and corequisites
Basic literature
HANUŠOVÁ, Helena. Manažerské účetnictví – metodické listy k předmětu + E-learning.
KRÁL, Bohumil a kolektiv: Manažerské účetnictví – 1. vydání.. Praha, Management Press, 1997, 408 stran, ISBN 80-7175-060- 3.
KRÁL, Bohumil a kolektiv: Manažerské účetnictví – 2.rozšířené vydání.. Praha, Management Press, 2008, 622 stran, ISBN 978-80-7261-141- 6.
Recommended reading
FIBÍROVÁ, J., ŠOLJAKOVÁ, L., WAGNER, J.: Manažerské účetnictví I : případové studie a příklady. Praha: Oeconomica, 2013. ISBN 978-80-245-1952-4.
MORSE, W.J, DAVIS, J.R., HARTGRAVES, A.L. Management Accounting: A Strategic Approach. 1st Edition. South-Western College Pub, 1995. 800 pages. ISBN-10: 0538844353 ISBN-13: 978-0538844352
MULFORD Charles W,. Creative cash flow reporting: uncovering sustainable financial performance. Hoboken: John Wiley & Sons, 2005. 414 s. ISBN 0-471-46918-1
Classification of course in study plans
- Programme MGR-KS Master's
branch MGR-PFO-KS , 2 year of study, winter semester, compulsory-optional
branch MGR-UFRP-KS-D , 2 year of study, winter semester, compulsory
branch MGR-ŘEP-KS , 2 year of study, winter semester, elective
Type of course unit
Guided consultation in combined form of studies
Teacher / Lecturer
Syllabus
1. The characteristics of cost, financial and management accounting and their development in the current economic context.
Basic differences (e.g. valuation, cost classification, reports, concept of depreciation, etc.) between in-house and financial accounting.
2. The links between financial statements and analytical methods (e.g. Porter’s Five Factor Model, SWOT analysis, etc.).
3. The links between financial statements and risk recognition.
4. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – single-entry organisation of accountancy.
5. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – double-entry organisation of accountancy
The influence of the character of business on performance-oriented accountancy (simple, phased, tiered and custom accounting, and associated performance).
6. Standard Cost Method – basic concept, types of standard, deviations from standards and their analysis.
Specific features of the Standard Cost Method according to the conditions of production (influence of technology and the organisation of production, pooling).
7 Specific features of the Standard Cost Method (the use of principle of differential methods for overheads).
Departmental and responsibility accounting – describing the issues, preconditions effective functioning, economic structure of the enterprise.
8. Reporting (basic concepts, characteristics, types, requirements for effective reporting, producing reports).