Management Accounting

Business administration in general, and management control and accounting in particular, is about creating, understanding and applying the content of different models for decision making. The models are expected to support the economically rational decision making of managers and co-workers.

The control instruments chosen for an organisation are thought to contribute to theimplementation of organisational strategy. In management accounting, basic conceptsand models are used to evaluate the profitability of organisational units, products andservices. The focus of the course is on formal policy instruments, such as differentmodels for control via performance measures/key ratios, product calculation andbudgeting. The students will be trained in the use of formal control instruments, but alsoin understanding management accounting as a part of the management of an organisation.

The less formal control instruments of management, such as divisions of responsibility and management of processes, are only briefly covered in the course. Strong emphasis is placed on communicating central concepts and models that constitute the nucleus of formal financial control, but also the relationships that prevail between them. Students will practice their ability to understand financial relationships through a case study.