Course Details

The course provides the students with the knowledge of:\n\n • the role and importance of management accounting as a scientific and practical activity;\n • the fundamental differences between financial and management accounting;\n • the behavioral aspects within the organization and the ethical problems in management accounting practice;\n • the traditional methods and concepts of management accounting for the following basic purposes: product/service costing; managerial decision making; performance management (i.e., budgeting and management control);\n • the elements of effective performance management systems;\n • the reasoning of the acquired knowledge through critical acceptance, understanding and expression of theories and principles;\n The course will help students acquire skills, such as: • classifying costs and estimating cost behavior using historical cost data;\n • determining the costs associated with the delivery of products/services;\n • selecting the most appropriate method of costing for a given product/service;\n • applying CVP analysis as a management tool;\n • identifying relevant-cost and relevant-revenue data for use in managerial decision making;\n • selecting the most appropriate approaches to budgeting and preparing budgets;\n • calculating basic budget variances and analyzing their factors;\n • logical thinking; innovative and creative approach of problem solving in the field of management accounting