Study Guide

Objective

The objective of the course is to understand accounting based controls as part of the organizations management systems. The aim is to develop student’s competences in applying accounting methods in various managerial challenges.

Content

- budgeting process, budget planning, monitoring
- the preparation of budgets in practice
- cost accounting system, cost type, cost center, and performance accounting
- division, addition, and function calculations

Evaluation scale

1-5

Assessment criteria, satisfactory (1)

The student is able to define basic concepts related to budgeting and costing. The student completes the assignments. The student is able to draw up a profit and loss, balance sheet and financing budget. The student is able to compile the cost type, location, and performance calculation.

Assessment criteria, good (3)

The student performs well the assigned tasks and performance requirements. The student is able to draw up a profit and loss budget, a balance sheet and a financial budget, as well as various sub-budgets, such as a sales budget. The student is able to compile the cost type, location, and performance-based calculation well.

Assessment criteria, excellent (5)

The student performs the given tasks and performance requirements commendably. The student is able to compile a profit, balance sheet and financial budget as well as various sub-budgets, such as the sales budget. The student is able to compile the cost type, location and performance-based calculations in an excellent way. The student is able to interpret and select calculations to support operational control.