Schedule: 07.01.2020 - 18.02.2020
Teacher in charge (valid 01.08.2018-31.07.2020):
Prof. Teemu Malmi, PhD student David Derichs
Teaching Period (valid 01.08.2018-31.07.2020):
2018-2019: III (Spring 2019), Töölö campus
2019-2020: III (Spring 2020), Otaniemi campus
Learning Outcomes (valid 01.08.2018-31.07.2020):
The objective of this course is to develop cost accounting and financial planning systems design skills. The first part of the course focuses on various cost accounting system design alternatives. We discuss the use, applicability and implications of various overhead allocation methods in different business set-ups. The second part takes a close look at financial planning and forecasting. We explore the use of budgets and forecasts as part of the management systems and discuss management reporting in contemporary organizations.
Assessment Methods and Criteria (valid 01.08.2018-31.07.2020):
1. Lectures, participation activity and case reports (60% of the marking)
2. Final exam (40% of the marking)
Learning is based on case discussions, readings, short introductory lectures, guest lectures and learning diaries. Lectures will not cover all the content of the course readings, but will provide additional insights and practical applications on topics covered.
Workload (valid 01.08.2018-31.07.2020):
- Lectures 18 h
- Class preparation 24 h
- Exercises/group work 50 h
- Learning diaries 12 h
- Independent study 52 h
- Exam 4 h
Study Material (valid 01.08.2018-31.07.2020):
Kaplan, R. & Anderson, S., (2003). Time-driven activity-based costing.
Axson, D., (2009). Best Practices in Planning and Performance Management: Radically Rethinking Management for a Volatile World.
Articles listed under each lecture.
Suggested additional readings:
Barret, R., (2007). Planning and budgeting for the agile enterprise: a driver-based budgeting toolkit. London: CIMA publishing
For those who want to go deeper into cost accounting and activity based management: Kaplan, R. & Cooper, R (1998). Cost & effect: using integrated cost systems to drive profitability and performance. Harvard Business Press. Chapters 1 – 11
For those who want to go deeper into forecasting: Morlidge, S. & Player, S (2010). Future ready: How to master business forecasting. John Wiley & Sons.
For those with no cost accounting background: Horngren, C., Datar, S. M. & Rajan, M. (2011). Cost accounting–A Managerial Emphasis.
Course Homepage (valid 01.08.2018-31.07.2020):
Prerequisites (valid 01.08.2018-31.07.2020):
Students should have taken at least one course that covers issues of cost accounting. At Aalto this would be: Management Accounting II (22C00300), Financial Accounting (22C00400).
Grading Scale (valid 01.08.2018-31.07.2020):
Registration for Courses (valid 01.08.2018-31.07.2020):
Via WebOodi. Please see WebOodi for the registration dates.
- Teacher: David Derichs