Managerial Accounting: a Multinational Perspective

Description

Formulates suggestions to implement and monitor an organisation’s strategy, while integrating various management areas in a harmonious fashion. Designs and adjusts effective organisational structures. Comments on the importance and limitations of financial reporting from the perspectives of different stakeholders. The student understands (the implications of) different product cost terms, such as product vs. period costs, direct vs. indirect costs, and fixed vs. variable costs. Collects, calculates and interprets relevant cost and revenue data, and formulates company policy recommendations based on this information (including production decisions, purchasing decisions, sales decisions, quality decisions, events management and performance measurement). Discusses how a management control system works based on frequently used terms in management control for an (internationally) oriented enterprise. Determines the net present value of a simple investment project based on a cash flow analysis and business’ capital cost. Critically uses the instruments at the disposal of management to evaluate the financial performance of an (international) organisation (e.g. differences analysis, economic value added). The student is able to assign costs using traditional and ABC cost allocation methods, and understands the strengths and weaknesses of these cost allocation methods Designs a management control system for an (international) organisation in accordance with its features and business context (strategy, environmental uncertainty, dimension, multinational corporations, cultural differences). Selects appropriate quantitative and qualitative methods and can apply these methods to real-life applications. Identifies the economic, social and environmental aspects of concrete business cases, recognises their importance to a sustainable society, and critically weighs the different aspects against each other as part of corporate social responsibility. The student can recognize ethical dilemmas in management accounting and management control, can assess implications, and can motivate ethically responsible choices in line with the professional deontology of (management) accountants.