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Lecturer(s)
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Brabec Zdeněk, Ing. Ph.D.
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Course content
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1. The nature and importance of controlling in business management. The role of a controller. 2. Presumptions for enforcement of efficient departmental control (company organizational and economic structure). 3. Information support of controlling (reporting as a basic tool). 4. The meaning of planning for the business management (feedback and feedforward). 5. Financial analysis, budgets and costing as resource data for planning process. 6. Methods and principles of financial planning. 7. Strategic and long-term financial planning. 8. Short-term financial planning. 9. Preparation of plans for production, investments, labor, costs and revenues. 10. - 12. Cost controlling and performance management (Break-even Point Analysis, Linear Model, Variable Costing, ABC - Activity Based Costing, Target Costing, Life Cycle Calculation). 13. Cost controlling as a tool for management of departments - departmental budgets, transfer prices.
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Learning activities and teaching methods
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Monological explanation (lecture, presentation,briefing)
- Home preparation for classes
- 28 hours per semester
- Class attendance
- 28 hours per semester
- Preparation for exam
- 25 hours per semester
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Learning outcomes
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The main objective of the course is to present the planning and controlling as management subsystems which in mutual interconnection support achieving business goals and long-term prosperity of the company. The course extends the theoretical and practical knowledge of students and explains the principles of planning processes at all hierarchical levels of the business entity, including the adherence to linkages between individual plans. Students are further familiarized with controlling as a comprehensive approach to cost management of the company.
In given course students will obtain knowledge which they will make use during processing of the thesis and in practice.
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Prerequisites
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Business Financial Management Managerial Accounting
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Assessment methods and criteria
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Combined examination
Credit exam requirements: Full-time study - active participation at seminars during the semester (1 absence allowed). participation in virtual mobility Attendance at lectures min. 50 %. Exam requirements: Full-time study - written exam.
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Recommended literature
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BRAGG, Steven M. Cost Accounting Fundamentals: Essential Concepts and Examples. 5th. ed.. 2016. ISBN 978-1-938910-69-2.
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BRAGG, Steven M. The Controller's Function: The Work of the Managerial Accountant. 4th ed.. Hoboken, 2011. ISBN 978-0-470-93742-6.
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Drury Colin. Management and cost accounting. Hampshire, 2016. ISBN 978-1-4808-9393-1.
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Horváth & Partners Management Consultants. The Controlling Concept: Cornerstone of Performance Management. Singapore, 2019. ISBN 978-981-121-866-8.
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PARMENTER, David. Key performance indicators:developing, implementing, and using winning KPIs. 3rd ed.. Hoboken: Wiley, 2015. ISBN 978-1-118-92510-2.
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PARMENTER, David. The Financial Controller and CFO?s Toolkit. Hoboken, 2016. ISBN 978-1-119-29131-2.
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