Subject 2 Financial information for management

Goal

Provide the knowledge and skills to use financial information՝

to calculate the cost of products and services rendered by organizations,
to make management decisions,
to plan, control, and monitor the economic activities of organizations.

Content

INTRODUCTION TO MANAGEMENT ACCOUNTING

Accounting for management
Management Information
Management information systems
Cost accounting and cost elements
The role of information technology in the management system

COST CALCULATION

Classification of expenses as՝
Production costs
Period costs
Other cost classifications
Cost behavior. separation of variable and constant components
Material costs
Labor costs
Allocation and absorption of overhead costs
Cost calculation using the methods of marginal costs (variable costing) and total cost absorption (absorption costing)
Cost calculation systems
Calculating the cost of a separate order (Job) and batch (Batch)
Phase calculation (Process costing)
Cost of services/services (Service Costing)

DECISION MAKING

Cost-volume-Profit Analysis (CVP)
Limiting factors
Decision-making costs
Prices

Planning and budget control

Standard cost accounting (Standard costing)
Types of standards
Direct deviations of variable costs
Constant overhead deviations
Revenue deviations
Preparation of the approval report

Evaluation method

Candidates must pass an exam consisting of multiple choice questions (maximum 50% points) and practical questions:

The exam is considered passed if the participant scored 50 or more points out of 100 possible points: