This course emphasizes the use of accounting information for internal planning and control purposes. The design and widespread adoption of adequate control systems is a critical success factor for modern organizations operating in complex and dynamic contexts. The main focus of the course is to explore the strategic role of management accountants and to illustrate the main tools used to support the strategy implementation and to direct managerial decisions.
C. DRURY, Management Accounting for Business, Cengage Learning, 6th edition.
Obiettivi Formativi
Knowledge objectives of this course include the following:
• Understanding the role and scope of financial and managerial accounting
• Appreciating the role of quantitative accounting techniques to support decision-making
• Comprehending the role of planning and control mechanisms in formulating standards and budgets and in assigning responsibility to managers
• Understand forecasting processes and performance appraisal mechanism.
Applying knowledge objectives of this course include the following
• Interpreting and analyzing the absorption costing systems and the activity-based costing, being able to appreciate the difference between the two approaches
• Identifying and using appropriate financial information to make operational decisions
• Evaluate the best option in decision making to maximize the company’s result
• Preparing an operating budget, identifying its major components and understanding the interrelationship among its various components.
Prerequisiti
To attendee the course profitably, a solid knowledge of business administration and financial accounting is required.
Metodi Didattici
The course is based on lectures, tutorials and teamworking activities.
Lectures systematically deal with concepts and analytical tools you are requested to use. Lectures aim at offering you essential basic knowledge and principles and present the analytical tools largely used in the business context.
A quarter of classes are devoted to tutorials. Each tutorial is conceived to give students a practical application of previously studied theoretical notions. Team discussions will enable each of you to better understand assignments, readings, and lectures.
Group work aims to provide students with collaborative skills needed for the professional world. Group work contributes to develop students’ communication, cooperative and teamwork skills and encourage students to be more independent and take ownership of their own learning.
A mix of theoretical lectures, tutorials, discussions and group works provides an interactive learning environment, allowing students to achieve a better understanding.
Modalità di verifica apprendimento
Course attendance is not required. However, attendance is considered a significant and serious commitment. Students are responsible for arriving on time, following the flow of classes carefully and remaining in the class until the end of session.
At the beginning of the course, students’ will be asked to decide if they want to attend classes. This will affect the examination methods.
GRADING GUIDELINES: This course aims to be very challenge for students. According to the Italian grading system, the grade falls in a range from 0 to 30 cum laude. The minimum grade for passing the exam is 18, while the median grade should fall in a range between 23 and 26. Hence, not all students qualify for the highest grade possible.
ATTENDING STUDENTS
The teaching methodology is specifically tailored to enable students’ active participation and engagement. The number of traditional lectures is deliberately limited to leave room for other interactive teaching methodologies such as flipped classroom, tutorials, group projects, and seminars.
Final grades will be determined as follows:
• Team project: 20%
• Homework 20%
• Midterm Exam 30%
• Final exam 30%
• Class Participation up to 2 additional points
TEAM PROJECT: Each student is arbitrarily assigned to a team that is expected to prepare and give a lecture on a topic, following a flipped classroom approach. Each team is assigned with a topic and use the library and trusted Internet websites to develop the lecture. The lecture should include both a frontal lesson and a practical exercise. On the appointed day, the team is the teachers and gives the lecture. All the other students are expected to provide comments and questions. At the end, the other teams are requested to fill an evaluation sheet provided by the teacher.
HOMEWORKS: The course includes individual homework assignments. Students may discuss with one another but they must submit their own homework. Copying others’ homework is considered as plagiarism and is subject to disciplinary actions. Students must submit their completed homework by e-mail before the beginning of class on the due date; late homework will not be accepted. Solutions to homework will be discussed in tutorial classes.
EXAMS: There are two exams, one midterm and one final. Exams can include both multiple-choices questions, exercises and open questions. Exam dates will NOT be rescheduled for any individual student. If you miss the midterm, you will receive zero credit for that exam.
CLASS PARTICIPATION: This course emphasizes participatory and collaborative learning. Hence, a portion of marks is based on your verbal participation and contribution to class discussions.
NON-ATTENDING STUDENTS
Non-attending students are required to study additional extra readings and to submit an individual project.
The final exam is a written test with exercises, multiple-choices and open questions. The test lasts 2 hours.
Programma del corso
• What's managerial accounting?
• Information and decision
• Management control system
• Planning and control through budgets
• Operating budgeting
• Master budgeting
• Standard costs
• Flexible budgeting & Variance analysis
• Strategic performance management
• Product costing
• Overheads and Activity Based Costing
• Implementing ABC
• Measuring relevant costs for decision making
• Differential analysis