Fundamentals of Managerial Accounting

The purpose of the course is to provide students with knowledge about the essence of management accounting, principles of cost classification and their accumulation, about costing systems and methods, and to develop the ability to form a suitable management accounting system and make management decisions. The main study methods are interpretation, discussions, question and answer presentation, task interpretation and solution, practical situation analysis. After completion of the course students are able to apply costing systems and their methods in organizations; are able to collect, process and present management accounting information required for business analysis.

The aim of the course is to provide students with knowledge about the essence of management accounting, principles of cost classification and their accumulation, about costing systems and methods, and to develop the ability to form a suitable management accounting system and make management decisions.

Students should have the knowledge in microeconomics, management, financial accounting and corporate finance, know the management functions and accounting significance for corporate governance, the accounting system and its components and be able to use the knowledge gained during studies to form an information base for management decisions.

1. The place of management accounting in the business management system. 2. The nature of costs and their classification. 3. Cost accumulation and product costs. 4. Costing systems and methods. 5. Use of management accounting information for business analysis: 5.1. Cost-volume-profit analysis. 5.2. Deviation analysis. 6. Professional ethics of management accountants.

1. Explains the essence and significance of management accounting in the modern business management system. 2. Identifies and describes the principles of professional ethics of management accountants. 3. Describes the objectives and principles of cost classification; classifies them according to different classification criteria, accumulates and distributes them to different cost objects. 4. Identifies and explains the peculiarities of costing systems; selects and applies these systems and their methods in organizations, considering their operational and / or technological peculiarities. 5. Identifies and describes the types of cost of products and services; calculates the cost of products and services. 6. Performs cost-volume-profit analysis and deviation analysis; formulates summary conclusions. 7. Adapts management accounting information for business analysis.