Management Accounting
Instructor: Предраг Гајић, PhD, Full Professor
The subject aims to familiarize students with accounting activities in the preparation of financial and non-financial information for the needs of management and in the process of corporate decision-making and management control (in the stages of planning, organization, control, communication and motivation).
| Code : | О14УРА |
|---|---|
| Status: | C |
| Semestar: | 3th |
| Number of classes per week: | 4+3 |
| ЕECTS: | 8 |
| Teachers: |
Предраг Гајић,
PhD Full Professor |
| Prerequisites: | Финансијско рачуноводство |
| Learning Outcomes (gained knowledge): | After attending classes and using the recommended literature, the acquired knowledge should enable students to: list and explain the tasks and roles of the accountant in the organization, and the content of accounting as an information system, from the point of view of the reports that such a system can offer; separate and analyze the elements of accounting information system; define and interpret different divisions of costs, and recognize and apply appropriate divisions for specific cases of supporting the realization of managerial responsibilities, describe and select appropriate cost accounting methodologies for companies from different industries (with job order costing, process costing and joint cost allocation), and adequately perform cost calculation for selected cost objects, relating costs and their causes; provide critical argumentation and advocate a change in the existing system of cost accounting, and use activity based costing; choose and apply the appropriate method for cost allocation between cost centers; report the business result by using different inventory costing methods at absorption and variable costs, identify and interpret resulting differences; identify and explain volume and value of a break-even point and relate the scope of activities and incurred costs, and calculate and explain the risk concepts of changes in assumptions on the basis of which the break-even point is calculated in a specific case; reasonably select appropriate quantitative and qualitative relevant information for various business decisions that will result in the short term; support and apply the model of short-term and long-term determination of selling prices, with an interpretation of the good and bad sides of both models; prepare an operating budget as well as a flexible budget; calculate and explain the amounts, characters and reasons for the resulting variances within the planned income statement. |
| Subject Contents: | The tasks and role of an accountants in the organization; Various division of costs for various control purposes; Introduction to cost accounting; Cost accounting in individual production, calculation per work order (task, order); Activity-based cost accounting; Cost accounting in mass production (calculation by processes); Cost accounting in coupled production; General costs and allocation of secondary costs; Accounting planning (budgeting) and the calculation of standard costs; Main budget and responsibility accounting; Flexible budget and management control of costs and revenues; Accounting reports with different types of deviation analysis; Decision-making process; Relevant values for decision-making and different types of decisions; Analysis of the cost-volume-profit relationship (CVP analysis); Decisions on selling prices and cost management. |
| Teaching Methods and Learning Activities: | Mastering of subject curriculum and adoption of appropriate knowledge is achieved by using the following teaching methods: lectures, exercises, mentoring during the preparation of seminar papers and consultations with the active participation of students in all phases of the teaching process. |
| Literature: | Gajić, P. (2022). Management Accounting – traditional concepts. Banja Luka. Faculty of Economics, University of Banja Luka. Horngren, T.; Charles, F. G.; Strikant, D. M. (2000). Cost Accounting a Managerial Emphasis. Prentice Hall International, INC. (translated) Stevanović, N.; Malinić, D.; Milićević, V. (2012). Management Accounting. Belgrade. Faculty of Economics, University of Belgrade. |
| Types of Assessment for the subject: | Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points) |
| Special Remarks for the subject: |