6 ECTS credits
175 h study time
Offer 1 with catalog number 1021578BNR for all students in the 2nd semester
at
a (B) Bachelor - advanced level.
- Semester
- 2nd semester
- Enrollment based on exam contract
- Impossible
- Grading method
- Grading (scale from 0 to 20)
- Can retake in second session
- Yes
- Enrollment Requirements
- Students must have taken ‘Financial Accounting’, before they can enroll in this course.
- Taught in
- English
- Faculty
- Faculty of Social Sciences & SolvayBusinessSchool
- Department
- Business
- Educational team
- Filip Sans
Marie-Laure Vandenhaute
(course titular)
- Activities and contact hours
- 22 contact hours Lecture
25 contact hours Seminar, Exercises or Practicals
128 contact hours Independent or External Form of Study
- Course Content
The course deals with the fundaments of managerial accounting that every business economics student should master.
Specifically, the course consists of 4 parts:
- The first part provides an introduction to management accounting, cost terms and cost behavior
- The second part sheds light on product costing. After a general introduction to cost allocation, different product costing systems (job-costing, process-costing) are discussed in depth.
- The third part focuses on information for decision making and address valuable management tools and concepts such as activity-based costing cost-volume-profit analysis, variable costing, and relevant information.
- Finally, the fourth part examines the accounting for planning and control. This part introduces the master budget and the use of flexible budgets and variance analysis.
- Course material
- Handbook (Required) : Introduction to Management Accounting (Global Edition) Plus MyAccountingLab with Pearson eText, Horngren Charles T., Sundem Gary L., Burgstahler D. and Schatzberg J., 17th edition, Pearson, 9781292412559, 2022
Digital course material (Required) : Will be made available via electronic learning environments: (1) Video tutorials and accompanying slides that are used during the tutorials; (2) Case studies and solutions
Handbook (Recommended) : Management Accounting, Seal, W., Rohde, C., Garrison, R. and Noreen E., 7, McGraw-Hill Eduation, 9781526849809, 2019
Handbook (Recommended) : Horngren's Financial & Managerial Accounting. The Managerial Chapters, Miller-Nobles, T., Mattison, B. and Matsumura E., 7th, Pearson, 9781292412337, 2021
Digital course material (Recommended) : Supplementary study material such as knowledge clips, end-of-chapter summaries, practice quizzes will be made available via electronic learning environments.
- Additional info
Throughout the course, students will be asked to do homework assignments via a.o. the online homework and practice environment MyLabAccounting by Pearson. Therefore, the access to MyLabAccounting is mandatory for this course. There are two access options: 1) an access code can be purchased together with the textbook or 2) an access code can be purchased separately.
Teaching Methods
- Lecture (HOC): collective contact-dependent moments during which the lecturer engages with learning materials
- Seminar, Exercises or Practicals (WPO): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
- Independent or External Form of Study (Self): independent study
This description of the teaching methods is indicative, in order to assess the expected study load:
Lecture: 22 hours
- Students gaining necessary theoretical knowledge by means of theory lectures: 22 hours (8x2 hours + 2x3 hours)
Practicals: 25 hours
- Students practice applying key concepts by solving exercises and case studies in peer groups in class: 21 hours (7x3 hours)
- Individual guidance via a.o. e-mail, Q&A discussion forums, one-on-one tutoring: 4 hours
Self: 128 hours
- Watching video tutorials and completing theoretical practice quizzes on the learning platform to test understanding of the theory and prepare for classes: 24 hours (2 hours per chapter)
- Solving exercises via the online homework and practice environment MyLabAccounting to extend the learning: 24 hours (2 hours per chapter)
- Consulting additional study material, keeping up with the course material during the semester: 48 hours (4 hours per chapter)
- Preparation for the exam: 32 hours (4 days of 8 hours)
- Learning Outcomes
-
General Competences
The objective of this course is to clearly present the basic concepts and techniques in management accounting and to recognize current trends. The focus of the course is mainly the understanding of costs and cost behavior. Further the course sheds light on different product costing systems and the use of cost information for decision making, planning and control decisions.
The purpose of this course is to provide students with the competences to:
- The student describes and explains the role of management accounting in an organization;
- The student distinguishes between management accounting and financial accounting;
- The student identifies costs and classifies costs according to their use (preparing external reports, predicting cost behavior, assigning costs to cost objects, or decision making);
- The student recognizes, explains and assesses the difference between cost flows across merchandising and manufacturing companies;
- The student uses a cost formula to predict costs at a new level of activity;
- The student explains the relationship among cost, cost object, cost accumulation and cost assignment;
- The student allocated service department costs
- The student describes, distinguishes, identifies and applies different product costing methods;
- The student prepares and analyses a cost-volume-profit analysis and explains its significance.
- The student computes the degree of operating leverage and explains how the degree of operating leverage can be used to predict changes in profit
- The student distinguishes between relevant and irrelevant information, analyzes and evaluates data to make (informed) business decisions.
- The student prepares and interprets a master budget;
- The student calculates, discusses and interprets budget variances.
- Grading
-
The final grade is composed based on the following categories:
Written Exam determines 85% of the final mark.
Other Exam determines 15% of the final mark.
Within the Written Exam category, the following assignments need to be completed:
- Written Exam
with a relative weight of 85
which comprises 85% of the final mark.
Within the Other Exam category, the following assignments need to be completed:
- Homework Assignments
with a relative weight of 15
which comprises 15% of the final mark.
- Additional info regarding evaluation
The component "homework assignments" cannot be resumed in the second session. No replacement assignments will be organised. The grade on this component is transferred from the first to the second session, but is not transferred to the following academic year. If the homework assignments were not carried out during the semester, the grade on this component will be zero in the first and second exam session. As such the final grade will be limited to a maximum of 85% out of 20.
Homework assignments have strict due dates. No grades will be assigned in case of late submission.
- Allowed unsatisfactory mark
- The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.
Academic context
This offer is part of the following study plans:
Bachelor of Business Economics: Year 1 and 2
Bachelor of Business Economics: Year 3: Specialisation Business and Technology
Bachelor of Business Economics: Year 3: Specialisation International Business
Preparatory Programme Master of Science in International Business: Default track
Preparatory Programme Master of Science in Business Engineering: Business and Technology: Default track