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Identical coursesAccounting for Managers (B-KUL-D0N83A)
Cannot be taken as part of an examination contractAims
This course aims to provide students with an understanding of, and ability to produce and apply management accounting information that is used in planning and control of organizations. Particular emphasis is placed on understanding the importance of accurate costing and applying different costing techniques and systems. Furthermore, the course aims to develop skills to identify, evaluate, and utilize relevant management accounting information in making the various operational, investment, and pricing decisions.
Upon completion of this course, the students will be able to:
- Understand the role of accounting information in management decision making
- Understand the implication of different product cost terms, such as product vs. period costs, direct vs. indirect costs, and fixed vs. variable costs.
- Critically compare and evaluate the nature of costs, their classification, and their behavior.
- Utilize cost behavior for cost estimation and perform a cost-volume-profit analysis
- Understand the basic cost flow model and be able to assign costs in a job /process/activity based systems.
- Prepare the costing systems’ (e.g., Job order and process costing systems) reports and analyze them.
- Explain how costs are being presented in financial statements.
- Apply profit planning by preparing budgets and understand the relationship between company strategy and budgets.
- Understand responsibility centers, performance systems and the Balanced Scorecard
Previous knowledge
Upon the start of the course, the students should be able to:
- Understand the accounting equation and demonstrate how different transactions impact it
- Define key accounting concepts and principles
- Understand where financial statement information originates by recording business transactions as journal entries
- Understand complex accounting transactions and how they relate to accounting principles
Is included in these courses of study
- Voorbereidingsprogramma: master in de toegepaste economische wetenschappen / Master of Business Economics (Leuven) 61 ects.
- Master in het management (Programma voor studenten gestart vóór 2022-2023) (Leuven) 60 ects.
- Master in de beleidseconomie (programma voor studenten gestart vóór 2022-2023)(Leuven) 60 ects.
- Courses for Exchange Students Faculty of Economics and Business (Leuven)
- Master in de beleidseconomie (programma voor studenten gestart in 2022-2023 of later) (Leuven) 60 ects.
- Master in het management (Programma voor studenten gestart in 2022-2023 of later) (Leuven) 60 ects.
- Voorbereidingsprogramma: Master handelsingenieur / Master of Business Engineering (Leuven) 99 ects.
- Voorbereidingsprogramma: Master handelsingenieur in de beleidsinformatica / Master of Business and Information Systems Engineering (Leuven) 111 ects.
Activities
4 ects. Accounting for Managers (B-KUL-D0N83a)
Content
Topics to be discussed will include:
- Managerial Accounting and the Business Environment
- Cost Terms, concepts and classifications
- Cost behavior
- Cost-volume-Profit analysis
- Costing systems such as Job costing, Process Costing and Activity Based Costing
- Relevant costing
- The budgeting process
- Performance evaluation
- Strategic management
Course material
The course material will consist of slides, exercises, problems, cases, and research papers. All the material (except some cases) will be provided via Toledo. The students are required to purchase some of the cases.
Used Course Material
- Slides
- Extra course material (exercises, problems).
- Cases (some need to be purchased by the students)
Language of instruction: more information
The course will be taught in English as all major concepts and relevant applications are in English or from international applications.
Format: more information
The course format will be based on lectures, the assigned readings, exercises, problems and cases. The homework and cases should enhance students’ understanding and comprehension of the material. In addition, the cases should provide a link from the classroom to relevant business situations and problems. Students are expected to critically and thoroughly study the theory, cases and examples that are presented during the lectures.
During the course, the students should perform the following activities:
- Complete 2 group assignments.
- Work on the exercises and problems.
- Participate in the group discussions.
In each lecture, the instructor will assume that the students have prepared the required material for each class.
Evaluation
Evaluation: Accounting for Managers (B-KUL-D2N83a)
Explanation
Features of the evaluation
- The evaluation consists of a final exam and group assignments.
- The final exam is a written closed book exam with different type of questions (Multiple choice, open- and closed questions).
The group assignments are executed in groups of 2-4 students. The group assignments can also be done solo.
Determination of final grades
- The grades are determined by the lecturer as communicated via Toledo and stated in the examination schedule. The result is calculated and communicated as a whole number on a scale of 20.
- The final grade is a weighted score and consists of:
- 75% Final exam
- 25% (Group Assignments) Project and case reports.
- If there is a deficit score (<10/20) for the final exam, this exam grade becomes the final grade for the course. Hence, a minimum grade of 10 out of 20 for the final exam is required to pass the course.
- If the student does not participate at the exam, the final grade of the course will be NA (not taken) for the whole course. If the student does not participate at group assignments (the project and/or case reports), the grades for this/these partial evaluation(s) will be a 0-grade within the calculations of the final grade.
- If one of the set deadlines was not respected, the grade for that respective part will be a 0-grade in the final grade, unless the lecturer grants the student a new deadline. However, the request for a new deadline need to be motivated by grave circumstances.
Information about retaking exams
The features of the evaluation differ between the first and second examination opportunity. Due to the nature of the assignment/paper, the grade attained at the first examination opportunity for the group assignment will be transferred to the second examination opportunity. The features of the exam will be the same. The final grade is a weighted score and consists of:
75% Final exam (2nd examination opportunity)
25% (Group Assignments) Project and case report (transferred from 1st examination opportunity)