Study grade : 1.
Year of study: 3.
Compulsory module
The aim of the course is to prepare students for independent practical application of knowledge in the field of costing and budgeting as a practical tool of cost management.
Brief module description
- Managerial accounting. Costs as a basic concept of managerial accounting.
- Cost classification.
- Dependence of costs on the volume of products and services.
- Cost management and its relation to managerial accounting. Historical development of cost management.
- Costing system. Types and methods of costing. Cost allocation.
- Costing formulas. Structure of a typical costing formula. Content of individual items of the costing formula. Types of costing formulas.
- Costing methods. Methods of costing in joint production. Costing methods in non-joint productions.
- Standard costing. Analysis of deviations.
- Process costing. Activity Based Costing.
- Target costing. Life cycle costing.
- Budgeting and business budgets. Budget system.
- Types of budgets and budgeting methods.
- Forms of budgets, factors influencing the choice of budget, control of budget execution.
