Learning Outcomes

After successfully finalizing this course, students should be able to:

 Define managerial accounting;

 Have a clear view on business ethics, especially ethics related to accounting;

 Define cost drivers an calculate cost behaviour;

 Use cost-volume-profit analysis in decision taking;

 Set-up and use Activity-Based Costing;

 Decide when information is relevant;

 Use relevant information for decision making, both for pricing and operational decisions;

 Describe the benefits of budgets;

 Set-up and use a master budget;

 Set-up and use flexible budgets;

 Execute variance analysis;

 Understand, define, and implement management control systems and responsibility accounting;

 Discuss and comment on management control systems in a decentralized organization;

 Analyse projects using discounted cash flow approach;

 Set-up and use a scheme of cost allocation;

 Set-up and use accounting for overhead costs;

 Implement job-costing and process-costing systems.