Management Accounting

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Warren Buffet

The intense market competition and technological changes create an ever-greater need for control systems that enable managers to manage efficiently and effectively. However, the data generated by even the smallest of organisations can be sometimes be overwhelming. Which data is relevant and moreover, how should the data be used to make effective decision? Management Accounting provides you with the skills to manage your costs effectively.

This course provides the tools that a modern manager needs to enhance decision-making and (management) control and involves influencing managers and other members of the organisation in order to ensure that the core business is performed effectively and efficiently. Common devices of management control include budgets (within a system of responsibility accounting) as well as transfer pricing. Invest your time in developing your accounting skills and they will help you invest in your business.

After this course you will be able to:

  • Discuss the nature and role of accounting
  • Construct simple financial statements;
  • Explain the main accounting conventions;
  • Analyse and interpret financial ratios and discuss the limitations of ratio analysis;
  • Calculate costs under traditional and activity-based costing
  • Use knowledge to discuss various costing issues
  • Use knowledge of the relationship between cost/volume/profit analysis for decision making;
  • Construct various budgets from relevant data as a means of exercising control over the business.
  • Conduct a simple variance analyses for controlling purpose

The main topics of this course are:

  • Nature of costs
  • Organisational architecture – responsibility accounting and transfer pricing
  • Budgets and budgeting
  • Cost allocation: theory and practice
  • Absorption cost systems
  • Criticisms of absorption cost systems: incentive to overproduce and inaccurate product costs
  • Management accounting in a changing environment


Dr. Dorota Dobija
Professor of Management Accounting

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Kozminski University     Maastricht University     Eada Business School Barcelona    Leipzig Graduate School of Management      Aix-Marseille Graduate School of Management     Audencia Business School


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