ECONOMIC BALANCE AND ECONOMIC AND FINANCIAL COMMUNICATION
Learning outcomes of the course unit
a. Knowledge and understanding: the course aims to provide students with the basic knowledge of how the management control systems operate with specific reference to the topics of financial accounting and cost accounting. The course also analyses the logic that underlies budgeting, costing accounting, BEP analysis, differential and variances analysis.
b. Applying knowledge and understanding: students will be able to interpret and apply the most important models of management control, as well as the methods of quantitative determination related to internal disclosure. Student will also be able to address the studies related to quantitative determination methodologies to support internal decision-making processes.
c. Making judgments: students will be able to successfully solve the logical interpretation of the management control system of the enterprises (private enterprises) including the identification of the most suitable instruments according to the operational needs of firms.
d. Communication skills: at the end of the course, students will acquire the ability to analyse problems (problem solving skills), the interpersonal skills and the communication skills in written and oral form in an effective way, using an appropriate language to discuss those issues with different stakeholders.
e. Learning skills: the course aims to support students learning through a correct approach to individual and group study and through the guided development of discussion of business cases dealt with in the classroom.
Course contents summary
The course aims to provide the tools used to support operational decision-making processes through the transmission of the basic items related to the management control systems. The student will acquire knowledge about the following problems: management control system; budgeting; financial accounting and cost accounting; concept of cost and its possible applications; cost configurations; cost accounting systems (direct costing and full costing); product cost calculation systems; break-even analysis; differential analysis; analysis of variances.
Cases and exercises will be proposed in classroom.
Cinquini L., Cost management, Vol. 1, Torino, Giappichelli, 2017.
Lectures and tutorials.
Assessment methods and criteria
Learning achievements will be measured and assessed in a written exam that comprises open-ended questions and also requires the application of cost accounting methods. More specifically, to assess knowledge of topics, communication skills, appropriate use of terminology and independence of judgment, students will be required to:
- answer 1 extended open question (10 points);
- answer 5 short open questions (2 points each);
As regards the applied perspective, knowledge and skills will be assessed through an application exercise (10 points). Classroom assessment of group-work and case studies will be also taken into account.
Moreover, the verification of learning will consider the incurrence of
intermediate tests during the course that will be individually evaluated in
30/30 and that will contribute to the final result in their average value.