Course detail

Cost management

FP-nmKAcad. year: 2023/2024

The course deals with the methods and procedures for management expenses and utilization of cost functions in the pricing decision making, with methods and calculation procedures and their application in decision-making roles of cost management in a manufacturing company, with the transition of cost accounting to management accounting and cost management, with the responsibility accounting, with the cost accounting in relation to processes and activities. It also defines the modern tools of management costs TC, LCC, followed by calculation of costs of individual activities (ABC) and the related method of management processes and activities (ABM). The course primarily provides information for management and decision-making. After completing the course, students will be able to define their requirements for various decision-making tasks, this information categorize, evaluate and present to managers.

Language of instruction

Czech

Number of ECTS credits

4

Mode of study

Not applicable.

Guarantor

prof. Ing. Alena Kocmanová, Ph.D.

Department

Institute of Economics (ÚE)

Entry knowledge

Students are expected to have general economic knowledge.

Rules for evaluation and completion of the course

Knowledge is verified by a written examination. For the written exam the student receives three computational examples and 3 technical questions on theoretical base on lectures. The classification is according to the grading scale ECTS, max score 75 points.
Skills of the Student are tested on the basis of semester paper.
Students can gets 25 points by elaboration and defense of the semester paper.
A 100 – 90
B 89 - 80
C 79 – 70
D 69 – 60
E 59 – 50
F 49 - 0
The grade is given on the basis of semester paper and a written test.


Checking during the semester is based on the completion of semester work.

Aims

The aim of the course is to introduce the interaction between financial and cost accounting, managerial accounting and cost management. Cost management acts as a stand-alone tool of the internal management. Analysis of cost behavior and mathematical calculations are important for managerial decision-making. Transition of the management accounting to the cost management concluded overall view of the interconnection of business information systems.

Students will understand the importance of the need of the cost management and its links with the management accounting and control. Students will know the theory of cost, managerial accounting and cost management, information about past phenomena, but also about information necessary for decision-making - budgeting, planning, tools of calculation methods and decision-making role. After completing the course, students will be able to evaluate the results, find shortages, propose solutions, and justify a decision in terms of cost control.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

KRÁL,B.a kol. Manažerské účetnictví. 3.doplněné vyd. Praha: Management Press, 2010.660s.ISBN 978-80-7261-217-8. (CS)
BLOCHER J.E.-CHEN H.K.-COKINS G.-LIN T.W. Cost Management – A Strategic Emphasis. Published by McGraw-Hill/Irwin. Inc.1221 Avenue of the Americas,New York, NY, 10020, 2005, 2002, 1999 by The McGraw-Hill Companies.ISBN0-07-281836-0. (EN)
ŠOLJAKOVÁ, L.Strategicky zaměřené manžerské účetnictví.1.vyd.Praha:Management Press.2009.206s.ISBN 978-80-7261-199-7 (CS)

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme MGR-KS Master's

    branch MGR-ŘEP-KS , 2. year of study, summer semester, compulsory

Type of course unit

 

Lecture

16 hours, optionally

Teacher / Lecturer

prof. Ing. Alena Kocmanová, Ph.D.

Guided consultation in combined form of studies

25 hours, optionally

Teacher / Lecturer

prof. Ing. Alena Kocmanová, Ph.D.