Study Guide

Objectives (course unit)

Students are able to:
· retrieve cost information in a complex technological environment
· calculate the desired cost in a complex technological environment
· examine and process business data from a value network schema perspective
· seek the optimal cost level and enhance profitability
· define a business strategy and metrics to support management´s work
· based on the information generated, articulate concrete actions for organizational management, whether within a team or independently

Content (course unit)

Student can use figures from management accounting in decision making and knows what to demand from management accounting. Student masters the basics of profitability, cost effectiveness and overhead costing. Student can calculate the cost and added value of an value network. Student knows key customer management and customer based costing and how value is created.
Topics:
Cost management
· trends in macroeconomics and their application in corporation economics
· product cost, total costs and its indicators in engineering and decision making in a multiple product environment
· internal and management accounting
· goal costing in product development and production
· budgeting
· customer profit and pricing strategies
· systems thinking in economics

Assessment criteria, satisfactory (1-2) (course unit)

The student understands the importance of internal accounting metrics and can apply them at a basic level in their managerial work. The student recognizes the fundamentals of profitability, cost efficiency, and margin thinking, but their deeper understanding and application in their work remain incomplete. The student can explain the principles of value chain cost and value creation and has a basic awareness of customer relationship management and customer-centric cost and value creation principles.

Assessment criteria, good (3-4) (course unit)

The student masters internal accounting metrics and can apply them effectively in their managerial work. The student demonstrates a strong understanding of profitability, cost efficiency, and margin thinking and can apply them in their work and decision-making. The student can define and analyze the principles of value chain cost and value creation and use them in business development. The student is familiar with customer relationship management and customer-centric cost and value creation principles and can apply them in practical situations.

Assessment criteria, excellent (5) (course unit)

The student has an excellent command of internal accounting metrics and can apply them effectively and innovatively in their managerial work. The student demonstrates a profound understanding of profitability, cost efficiency, and margin thinking and is capable of creative and analytical problem-solving based on these principles. The student can accurately define and analyze the principles of value chain cost and value creation and use them in strategic decision-making and business development. Additionally, the student masters customer relationship management and customer-centric cost and value creation principles and can innovatively apply them in complex and challenging practical situations.

Assessment scale

0-5