Management Control and Cost Management

Description

The aim of the course is to provide students a thorough understanding of the use of management accounting information for strategic objectives in organizations. Firstly management control is discussed. Here, systems are described for organizations to ensure that employees in organizations pursue the goals of the organization. A second component is cost with a discussion of strategic and operational activity based management. Finally, the use of management accounting in multinational companies and not-for-profit organizations is discussed. The section Management Control focuses on the application of relevant concepts and notions of management control. The portion Strategic Cost Accounting is taught using only relevant case studies that are discussed during the lectures. * Upon completion of this course, the student can * handle current concepts of management control * analyze the business environment and estimating its impact on the management control of a company * identify the different steps of a management control process (strategic planning, budget preparation, analysis of the financial performance, performance measurement and reward forms) and highlight important points within each of these steps * assess the impact of the strategy on management control * provide advice for setting up management control systems in companies * Upon completion of this course, the student can * apply current management and cost accounting techniques * make critical analyses of the application of management and cost accounting techniques * give advice on which technique can be used * provide support for the implementation of the most current management and cost accounting techniques