Course detail

Bookkeeping for Managers

ÚSI-REMAUAcad. year: 2020/2021

The course focuses mainly on the following areas:
- Explanation of the significance and function of accounting in general, types of accounting, characteristics of in-house, financial and managerial accounting and their developmental trends in the current economic context, basic differences (e.g. valuation, users, etc.) between in-house, financial and managerial accounting, recognition of A- and B-type information
- Basic company account sheets, their explicitness and analysis - Costs and their classification - Performance-based accounting – calculation (terms, the subject of calculation, the apportionment of costs to the subject of calculation, the calculation of full and variable costs, the structure of costs in calculations, the calculation system) - Budgets and budgeting (basic terms, long-term budgets, short-term budgets, overhead cost budgets), methods of budget creation and control, behavioural aspects of budgeting work - The Standard Costs Method as a tool for cost management and control (basic terms, SCM in serial, piecework, homogeneous, heterogeneous and joint production, the use of SCM with overhead costs), - Reporting as a source of information for decision making (basic terms, characteristics, types, requirements), creating a report - Responsibility accounting
The focus will be on risk engineering. Students will be able to identify risks in a comprehensive way and analyse them critically, and to implement and assess measures taken in firms from the accounting perspective.

Learning outcomes of the course unit

- students will be able to differentiate between cost and managerial accounting in terms of the possibilities they offer, and their importance - students will be able to differentiate between the importance of A- and B-type information - students will understand the importance of the type of company activity for cost accounting - students will learn to analyse the financial statements of a company (fundamental analysis) - students will learn to implement models of the single-circuit and double-circuit organisation of in-house accounting - students will learn the principles of using the Standard Cost Method and the differences in its application in serial, piecework, homogeneous and joint production, and also for overhead costs.
- students will understand the meaning and master the principles and basic applications of responsibility accounting - students will understand the importance and master the principles of report creation and the requirements for effective reporting

Prerequisites

There are no special requirements.

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

KRÁL,B. a kol.: Manažerské účetnictví. 2.rozšířené vyd. Praha: Management Press, 2008. 622 s. ISBN978-80-7261-141-6
FIBÍROVÁ, J., ŠOLJAKOVÁ, L. Reporting. 3. rozšířené a aktualizované vyd.Praha: Grada Publishing, 2010. 224 s. ISBN:978-80-247-2759-2
KRÁL, B. a kol. Manažerské účetnictví. 2.vyd. Prospektrum, s.r.o. Praha.2005. ISBN 80-7261-131-3
KOVANICOVÁ, D. Poklady skryté v účetnictví. 5.aktualizované vydání, Praha:Polygon, 1998, ISBN 80-85967-73-1
FIBÍROVÁ,J. Nákladové účetnictví (Manažerské účetnictví).2.vyd.Praha, VŠE Praha, 2001, 347s. ISBN 80-245-0212-7
BAŘINOVÁ, D., VOZŇÁKOVÁ, I. Vyhodnocení a využití účetních výkazů pro manažery, společníky a akcionáře. 1.vyd. Praha_Grada Publishing, 2005. 100s. ISBN 80-247-1115-X
GARRISON,R.H. Managerial Accounting. NewYork, McGraw-Hill/Irwin.2003.ISBN 0-07-242338-2
ŠOLJAKOVÁ, L. Cvičné příklady - Manažerské účetnictví. 2.vyd.Praha:ISÚ, 2005
FIBÍROVÁ, J., ŠOLJAKOVÁ, L., WAGNER, J. a P. PETERA. Manažerské účetnictví-nástroje a metody. 2. vyd. Praha: Wolters Kluwer, 2015, 404 s. ISBN 978-80-7478-743-0. (CS)
Hanušová, H. Nákladové účetnictví. Metodické listy – E´learning (CS)

Planned learning activities and teaching methods

Tuition takes place via lectures and seminars. The lectures focus on the explanation of basic principles, the methods of the given discipline, problems and example solutions. The seminars mainly support practical mastery of the subject matter presented in lectures or assigned for individual study with the active participation of students.

Assesment methods and criteria linked to learning outcomes

- Form of assessment of study results - exam - oral (it consists of answers to two open questions which the examiner assigns to the student in writing. The student has time to prepare, which can also be done in writing, and then presents the answers to the teacher). (60%)
- Other requirements for students - condition for granting the credit - production of a written semestral project (students will chose a company whose Balance Sheet and Profit and Loss Statement they will analyze individually and in a mutual context. Students will evaluate their findings in the context of the analyzed company with the aim of finding arguments to support aspects of SWOT analysis and Porter’s five factor model, and identify possible risks. This assignment can be submitted at any time during the semester, but must be submitted in the 12th week of the semester at the latest. (40%)

The resultant final mark for the subject is the sum of the assessments from the seminars and the exam. The assessment is graded according to the ECTS scale.

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

Introduction and definitions of the subject Managerial Accounting, explanation of the importance and role of accounting in general, types of accounting
Characteristics of in-house, financial and managerial accounting, and their developmental trends in the current economic context. Basic differences (e.g. valuation, users, etc.) between in-house and financial accounting
Basic company account sheets, their explicitness and analysis
Linking of financial statements to analytical methods (e.g. Porter´s 5 factor mode, SWOT, risk analysis)
Costs and their classification
Presentation of costs and revenues in accounting - tracking of costs, revenues and profit in accounting - single-circuit and double-circuit organization of accounting
The Standard Costs Method as a tool for cost management and control (basic terms, principle of use, types of standard, deviations from standards and their analysis)
The SCM and Direct Costing, specifics of the use of the method according to production conditions (the influence of technology and the organization of production, joint production, the application of the principles of differential methods with overhead costs)
The SCM as a tool for risk identification and analysis
Reporting as a source of information for decision-making (basic terms, characteristics, types, requirements), creation of reports
Reporting as a tool for risk identification and analysis, and a tool for the evaluation of accepted measures
Departmental and responsibility accounting (definition of issues, prerequisites for effective function, the economic structure of a company) as a tool for risk identification and analysis

Aims

-students will gain an understanding of the content and basic differences between financial, managerial and in-house accounting
- students will be acquainted with the basic developmental trends in financial, managerial and in-house accounting
- students will learn how to analyze basic financial statements via specific examples (analysis of case studies)
- students will acquire basic theoretical knowledge in the area of calculations, budgeting, the SCM and reporting
- students will learn to distinguish between A- and B-type information
- students will acquire practical skills at a level that allows them to compile a basic short-term budget proposal and create a report

Specification of controlled education, way of implementation and compensation for absences

1. An analysis of financial statements, presented by the student in the form of individual written work, checked via work assessment (this assessment is included in the final evaluation, with a weight of 20%)
2. Work on an example using relevant, irrelevant and opportunity costs (individually produced in seminars) - the assessment is included in the resultant evaluation with a weight of 10 %

Classification of course in study plans

  • Programme RRTES_P Master's

    specialization RRES , 2. year of study, winter semester, 4 credits, compulsory-optional

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Exercise

13 hours, optionally

Teacher / Lecturer