FP-FmuKAcad. year: 2019/2020
The course focuses on the following areas:
- The characteristics of cost, financial and management accounting and their development in the current economic context and the basic differences (e.g. valuation, cost classification, reports, concept of depreciation, etc.) between in-house and financial accounting
- The links between financial statements and analytical methods (e.g. Porter’s Five Factor Model, SWOT analysis, etc.) and obtaining information from them for risk identification
- Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – and single-entry and double-entry accounting
- Influence of the character of business on performance-oriented accountancy (simple, phased, tiered and custom accounting, and associated performance)
- Standard cost method – basic concept, types of standard, deviations from standards and their analysis, the specifics of the method according to the conditions of production (influence of technology and the organisation of production, pooling), the use of principle of differential methods for overheads
- Departmental and responsibility accounting – describing the issues, preconditions for effective functioning, economic structure of the enterprise
Actual trends in cost management (ABM, Time Driven-Activity-Based-Costing , flowing Accounting)
- Reporting - basic concepts, importance and role, characteristics, types, implementation issues, requirements for effective reporting, producing reports
Learning outcomes of the course unit
Knowledge: Students know how to distinguish between financial and management accounting, they are aware of the significance of type of activity for cost accounting. They realize the different methods of expressing business costs, revenues and profits. They know the conditions, possibilities and principles of the use of the Standard Cost Method and the differences in its application. They understand the significance and learn the principles of effective reporting and the creation of reports in relation to the in-house reporting system.
Skills: The student can comprehensively analyse and evaluate the current state of the in-house information system as a tool for managing costs and efficiency. They are able to find means for its optimization with respect to the specifics of creating performance so that mainly through timely reporting it can provide the information needed for decision-making at different management levels.
Abilities: They know how to gain information from financial statements that can be used in carrying out analyses (of the type of Porter’s Five Factor Model and risk analyses).
They can independently solve tasks linked to the selection and implementation of means of displaying and tracking costs, revenues and profit through the single-entry and double-entry organisation of accountancy with regard to the influence of the type of business on performance-oriented and responsibility accounting.
They know how, with the aid of the Standard Cost Method, to ascertain and analyse deviations in various types of production and also in overheads.
Basic knowledge in the area of financial accounting (principles of bookkeeping, knowledge of accounting statements), general knowledge in of microeo economics and enterprise corporate economics.
Recommended optional programme components
Recommended or required reading
HANUŠOVÁ, Helena. Manažerské účetnictví – metodické listy k předmětu + E-learning.
KRÁL, Bohumil a kolektiv: Manažerské účetnictví – 1. vydání.. Praha, Management Press, 1997, 408 stran, ISBN 80-7175-060- 3.
KRÁL, Bohumil a kolektiv: Manažerské účetnictví – 2.rozšířené vydání.. Praha, Management Press, 2008, 622 stran, ISBN 978-80-7261-141- 6.
FIBÍROVÁ, J., ŠOLJAKOVÁ, L.Reporting. 3. rozšíř. a aktual. vyd. Praha : Grada Publishing, 2010. 221 s, ISBN 978-80-247-2759-2
FIBÍROVÁ, J., ŠOLJAKOVÁ, L., WAGNER, J.: Manažerské účetnictví I : případové studie a příklady. Praha: Oeconomica, 2013. ISBN 978-80-245-1952-4.
FIBÍROVÁ, J., ŠOLJAKOVÁ, L., WAGNER, J.: Manažerské účetnictví - nástroje a metody. 1. vyd. Praha: Wolters Kluwer, 2011. 391 s. ISBN 978-80-7357-712-4.
MULFORD Charles W,. Creative cash flow reporting: uncovering sustainable financial performance. Hoboken: John Wiley & Sons, 2005. 414 s. ISBN 0-471-46918-1
MORSE, W.J, DAVIS, J.R., HARTGRAVES, A.L. Management Accounting: A Strategic Approach. 1st Edition. South-Western College Pub, 1995. 800 pages. ISBN-10: 0538844353 ISBN-13: 978-0538844352
Planned learning activities and teaching methods
The course contains lectures that explain basic principles, problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures.
Assesment methods and criteria linked to learning outcomes
Requirements for the award of credit:
a) producing a semester paper where they select an enterprise in which they analyse the balance sheet and profit and loss account both individually and in their mutual relationship and evaluate the ascertained facts in the context of the analysed company, with the aim of finding arguments to support a SWOT analysis and Porter’s Five Factor Model, and identify possible risks. The work can be submitted progressively, at the latest by week 12 of the semester. The seminar paper can be worked on by students in pairs. 25%
b) in the course of 7 seminars to work on an example of the implementation of single-entry and double-entry accounting system on the basis of an individual assignment given by the teacher. 25%
c) knowledge is tested in an oral examination which involves responding to two open questions, which the examiner gives the students in writing. The student has time to prepare these, which they can do also in writing (essential is the capacity for practical application) and then they present this orally to the examiner. 50%
The resulting assessment of the course is the sum of the assessment of the seminars and the examination. The assessment is classified according to the ECTS scale.
Language of instruction
The basic topics covered in the lectures are as follows:
1. The characteristics of cost, financial and management accounting and their development in the current economic context.
2. Basic differences (e.g. valuation, cost classification, reports, concept of depreciation, etc.) between in-house and financial accounting.
3. The links between financial statements and analytical methods (e.g. Porter’s Five Factor Model, SWOT analysis, etc.) and between financial statements and risk recognition.
4. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – single-entry organisation of accountancy
5. Displaying profit and loss in accountancy – following costs, revenues and profit in accountancy – double-entry organisation of accountancy
6. The influence of the character of business on performance-oriented accountancy (simple, phased, tiered and custom accounting, and associated performance).
7. Standard Cost Method – basic concept, types of standard, deviations from standards and their analysis.
8. Specific features of the Standard Cost Method according to the conditions of production (influence of technology and the organisation of production, pooling).
9. Specific features of the Standard Cost Method (the use of principle of differential methods for overheads).
10. Departmental and responsibility accounting – describing the issues, preconditions effective functioning, economic structure of the enterprise.
11. ABM, ABB
12. Actual trends in cost managemene, Time-Driven-Activity-Based-Costing
13. Reporting (basic concepts, characteristics, for effective reporting, producing reports)
The objective is:
- to understand the importance of, development and relations between financial, cost and management accounting and understand the significance of the influence of the type of activity of the enterprise on cost accounting
- to gain theoretical and practical skills in the use of financial statements as a source of information for selected analytical methods and risk analysis
- to gain theoretical and practical skills implementation of the single-entry and double-entry organisation of accountancy
- to learn the principles of the Standard Cost Method and the possibilities for its use in serial piece, homogeneous and associated production, and also for overheads
- to understand the significance , principles and basic applications of responsibility accounting
- to gain theoretical and practical skills for the producing of reports.
Specification of controlled education, way of implementation and compensation for absences
Monitoring of students' individual work on the assigned tasks.
Classification of course in study plans
- Programme MGR-UFRP-KS Master's, 2. year of study, winter semester, 3 credits, compulsory
Type of course unit
Guided consultation in combined form of studies
12 hours, optionally
Teacher / Lecturer