Accounting Management

General characterization

Prerequisites

Mandatory precedence:

- 1201. Financial Accounting

Bibliography

•    Drury, C. (2018) Management and Cost Accounting, 10th Edition, South--?Western / Cengage Learning (ISBN 9781473748873);

•    Bhimani, A., Horngren, C.T., Datar, S.M. and Rajan, M. (2015) Management and Cost Accounting, 6th Edition, Pearson (ISBN 978-129?206?346?1);

•    Garrison,R., Noreen, E. and Brewer, P. (2014) Managerial Accounting, 15th  Edition, McGraw- Hill (ISBN 007-8-0256-3x).

Teaching method

The course comprises both lectures and tutorials. Lectures (one each week) consist of presentations about the theoretical aspects of each topic, as well as, applications to real-life situations. Powerpoint handouts will be provided to students covering all the topics. Tutorials (two each week) base on exercises and discussions with students in order they are able to develop the theoretical and practical knowledge about the concepts, the systems and practices of management accounting.

During the course the following teaching and learning methods will be thus adopted:
1.    Expositional, to the presentation of the theoretical reference frames;
2.    Participative, with analysis and resolution of application cases and problems;
3.    Active, with the realization of individual works.
4.    Self-study, related with autonomous work by the student, as is contemplated in the class planning.

These teaching and learning methods are aimed at the development of the students’ main learning competences that allow to fulfill each of the learning objectives described before.

Evaluation method

The Final Exam is mandatory and must cover the entire span of the course. Its weight in the final grade can be between 30 to 70%. The remainder of the evaluation can consist of class participation, midterm exams, in class tests, etc. Overall, written in class assessment (final exam, midterm) must have a weight of at least 50%.

Students assessment bases on:

• 3 Quizzes amounting altogether to 10% of the final grade of the course.

• Two midterm tests each amounting to 20% of the final grade of the course.

• Final exam covering all the 4 topics of the program (50% of the final grade of the course).

To pass students must get at least 8.5 over 20 in the final exam (there is no minimum grade set to the midterm tests and to the quizzes), and at least 10 over 20 as the final grade of the course.

Additionally, there is a resit exam, available to all students that fail in the regular exam or that want to improve their grade. The resit exam is worth 100% and covers all parts of the syllabus. To pass students must get at least 10 over 20 in the exam.

Regular exam period:

• Final exam: 50% of the final grade.

• Midterm tests: 2 midterm tests each of one amounting to 20% of the final grade 3 quizzes: 10% of the final grade.

Resit exam period:

• Final exam: 100% of the final grade.

Grade improvement in regular exam period:

• Final exam: 50% of the final grade.

• Midterm tests: 2 midterm tests each of one amounting to 20% of the final grade 3 quizzes: 10% of the final grade.

Grade improvement in resit exam period:

• Final exam: 100% of the final grade.

Subject matter

1.    Introduction to Management Accounting
a.    Scope and objectives of Management Accounting
b.    Terms, concepts and classifications of costs
c.    Cost concepts in manufacturing companies: cost of goods manufactured and cost of goods sold
d.    Profit and loss account by function
2.    Inventory Valuation and Profit Measurement
a.    Cost assignment:
i.    Single versus multiple overhead allocation rates
ii.    Traditional costing systems
iii.    ABC costing system
b.    Job costing and process costing
3.    Information for Decision-Making
a.    Alternative cost accumulation systems
i.    Description
ii.    Advantages and disadvantages
b.    Cost-volume-profit analysis
i.    Objectives
ii.    Break?even point
iii.    Safety margin
iv.    Product-mix
c.    Relevant costs and revenues
i.    Objectives
ii.    Examples
4.    Information for Planning and Control
a.    Budgeting
i.    The planning process
ii.    Objectives and importance of budgeting
b.    Standard costs and variance analysis
i.    Objectives
ii.    Calculation of variances
iii.    Identification of the causes of variances and the corrective actions to implement

Programs

Programs where the course is taught: