Management Control and Cost Management

Description

After the course students should: Know how to apply calculations with regard to the management accounting techniques Be able to critically compare among alternative decision making tools, and their impact on firm policies Be able to identify pros and cons (Cost/benefit analyses) of different management accounting systems Know how to apply tools to provide advice with regard to management Know to express consequences of the different management accounting techniques on behavior of employees in organizations Be able to express how management accounting could be applied to support the strategy of the firm Explanation Where introductory courses focuses more on getting to know the details of different management accounting techniques, this course requires students to critically reflect on calculations and management accounting techniques. The course aims at a more advanced level, in which students learn to compare techniques for the functioning of the organization. One key aspect is decision making control or how management accounting can be used to align incentives between the firm and its employees and how it can be supportive in focusing the employees to the strategy of the firm. The other part focuses more on the decision facilitating role and how accounting can help to improve decisions of employees in the firm. The course aims at a critical reflection, as trade-offs between decision control and decision facilitating roles are described. Cost accounting techniques and impact on P&L account and human behavior will also be discussed.