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.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Learning outcomes of the course unit
- 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
Co-requisites
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
- 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.
Course curriculum
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
Work placements
Aims
- 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
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 %
Recommended optional programme components
Prerequisites and corequisites
Basic literature
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)
KRÁL,B. a kol.: Manažerské účetnictví. 2.rozšířené vyd. Praha: Management Press, 2008. 622 s. ISBN978-80-7261-141-6
Recommended reading
FIBÍROVÁ,J. Nákladové účetnictví (Manažerské účetnictví).2.vyd.Praha, VŠE Praha, 2001, 347s. ISBN 80-245-0212-7
GARRISON,R.H. Managerial Accounting. NewYork, McGraw-Hill/Irwin.2003.ISBN 0-07-242338-2
KOVANICOVÁ, D. Poklady skryté v účetnictví. 5.aktualizované vydání, Praha:Polygon, 1998, ISBN 80-85967-73-1
KRÁL, B. a kol. Manažerské účetnictví. 2.vyd. Prospektrum, s.r.o. Praha.2005. ISBN 80-7261-131-3
ŠOLJAKOVÁ, L. Cvičné příklady - Manažerské účetnictví. 2.vyd.Praha:ISÚ, 2005
Classification of course in study plans