Course details
Cost management
nmP FP nmP Acad. year 2019/2020 Summer semester 4 credits
The course deals with the methods and procedures for management expenses and utilization of cost functions in the pricing decision making, with methods and calculation procedures and their application in decision-making roles of cost management in a manufacturing company, with the transition of cost accounting to management accounting and cost management, with the responsibility accounting, with the cost accounting in relation to processes and activities. It also defines the modern tools of management costs TC, LCC, followed by calculation of costs of individual activities (ABC) and the related method of management processes and activities (ABM). The course primarily provides information for management and decision-making. After completing the course, students will be able to define their requirements for various decision-making tasks, this information categorize, evaluate and present to managers.
Guarantor
Language of instruction
Completion
Time span
- 20 hrs lectures
- 10 hrs exercises
Department
Lecturer
Instructor
Subject specific learning outcomes and competences
Students will understand the importance of the need of the cost management and its links with the management accounting and control. Students will know the theory of cost, managerial accounting and cost management, information about past phenomena, but also about information necessary for decision-making - budgeting, planning, tools of calculation methods and decision-making role. After completing the course, students will be able to evaluate the results, find shortages, propose solutions, and justify a decision in terms of cost control.
Learning objectives
The aim of the course is to introduce the interaction between financial and cost accounting, managerial accounting and cost management. Cost management acts as a stand-alone tool of the internal management. Analysis of cost behavior and mathematical calculations are important for managerial decision-making. Transition of the management accounting to the cost management concluded overall view of the interconnection of business information systems.
Prerequisite knowledge and skills
Students are expected to have general economic knowledge.
Study literature
- BREWER,P.C.- GARRISON,R.H.-NOREEN,E.W.Introduction to Managerial Accounting.Published by McGraw-Hill/Irwin. Inc.1221 Avenue of the Americas,New York,NY,10020,2002 by The McGraw-Hill Companies.ISBN 0-07-281787-9.
- GARRISON,R.H. Managerial Accounting.Published by McGraw-Hill/Irwin. Inc.1221 Avenue of the Americas,New York,NZ,10020,2003 by The McGraw-Hill Companies.ISBN 0-07-242338
Fundamental literature
- BLOCHER J.E.-CHEN H.K.-COKINS G.-LIN T.W. Cost Management – A Strategic Emphasis. Published by McGraw-Hill/Irwin. Inc.1221 Avenue of the Americas,New York, NY, 10020, 2005, 2002, 1999 by The McGraw-Hill Companies.ISBN0-07-281836-0.
Progress assessment
There is the written and oral examination. The student receives two technical questions based on lectures.
Skills of the student are tested on one test.
TEST I (9-10. week): 40 points
Minimum number of points: 20 points.
Teaching methods and criteria
Lectures consist of an explanation of basic principles, methodology of the discipline, problems and their solutions.
Controlled instruction
The checking during the semester is based on the completion of the test. In the case of excused absence from seminars, teacher can, in justified cases, set a alternative condition - usually the procession of the alternative
Course inclusion in study plans