The course consists of lectures with theoretical concepts, practical examples and exercises in the following fields:
1. Management control starting points, basic concepts and instruments.
2. Product Costing of goods and services, such as self-costing, contribution calculations and calculations for different decisions.Allocation of costs.
3. Activity Based Control. The meaning of the activites and processes, such as activity-based costing, budgeting and accounting.
4. Planning and short-term decision making, such as budgeting and deviation analysis, internal price setting and internal accounting.
5. Operational control. Control over time, quality and customer profitability. Performance measurement, such as balanced scorecards, benchmarks, target and kaizen calculation.Business systemens.
6. Long term decision making, such as investment appraisal, cost estimates and the choice of financing sources and capital structure.
The aim of the course is to provide you with the ability to understand, design and handle methods in the area of management control for industrial organisations. This means that after the course you should be able to:
· Get an insight into the strategic management control, for example value chain analysis, life cycle cost-, target cost- and kaizen calculation and be able to apply performance measurement, such as balanced scorecard, in an industrial company.
· Describe the content and understand the use of the most common tools in management control, such as costing, budgeting, deviation analysis, financing- and investment decisions and business systems.
· Describe and understand the meaning of the various models of management control that exist, such as activity based control (costing, budgeting and accounting) and bench marking.
· Choosing (and argue for the choice) between different models of management control (price, cost, time and quality) of the company's operations and its various processes.
· Understand how the information in different modes of management control is used for decision making and how companies should take responsibility for their impact on society, both from an economic, environmental and social perspective, CSR(Corporate Social Responsibility).
· Apply theoretical concepts of management control in different areas of business in various industries.
· Critically evaluate and compare the models of management control that is used by companies in different sectors.