Teaching Methodologies
The topics are presented in a expository style, using clear examples and encouraging students reflection and discussion. The students are asked to solve practical exercises, in order to consolidate, integrate and relate the concepts. To improve the understanding of existing industrial firms in this domain, students have to make a study of an industrial company, focusing on the description of the production system and the industrial cost accounting. Grading is based on the written report and oral presentation of the work done in the industrial company (40%), 2 tests or final exam (40%), and class participation (20%).
Learning Results
Management accounting is essential to control and measure organizational performance and assist the decision making process. The aim of the course is the preparation and interpretation by student of relevant information on the management accounting field.
At the end of this course students should be able to:
Interpret the main financial statements.
Understand the usefulness of management accounting.
Understand different types of costs and their behavior.
Understand the differences between the various costing systems
Apply properly the main methods of determining the product cost in different industries.
Work with standard cost.
Prepare a budget and a variance analysis.
Evaluate various alternatives and justify the proposed solutions.
Prepare a written report and an oral presentation in a clear way, working in a group.
Program
1) The Financial Statements
Economic and financial flows. Balance Sheet, Income Statement and Cash-flow statement. The limitations of financial information.
2) Financial and Management accounting. Cost classification and cost behavior. The cost of products and its components. Production overheads allocation. Costing systems: job and process costing. Cost centers method. Activity-based costing. Joint production costing. Spoilage, Rework and Scrap.
3) Budgeting and control. Standard costing and variance analysis.
Internship(s)
NAO