2023-2024 / GEST3013-1

Analytical accounting and management control

Duration

40h Th, 20h Pr

Number of credits

 Bachelor in economics and business management5 crédits 
 Master in management, professional focus in law and management5 crédits 
 Master in human resources management (120 ECTS) (Management)5 crédits 
 Extra courses intended for exchange students (Erasmus, ...) (Faculty of social sciences)5 crédits 

Lecturer

Anne Chanteux

Language(s) of instruction

French language

Organisation and examination

Teaching in the first semester, review in January

Schedule

Schedule online

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

PART 1 : COST ACCOUNTING

CHAPTER 1: GOALS AND CHALLENGES IN COST ACCOUNTING

CHAPTER 2: COMPARISON FINANCIAL ACCOUNTING - COST ACCOUNTING

CHAPTER 3: ACTIVITY CENTERS AND COSTS

CHAPTER 4: IMPACT OF SUPPLY AND DEMAND ON FIXED AND VARIABLE COSTS (including break-even point)

CHAPTER 5: ELEMENTS OF DIRECT COSTS

CHAPTER 6 : COST CALCULATION BASED ON THE " COEFFICIENTS METHOD"

CHAPTER 7: COST CALCULATION BASED ON THE "HOMOGENEOUS SECTIONS" METHOD

CHAPTER 8: COST CALCULATION BASED ON THE "ABC" METHOD (ACTIVITY BASED COSTING)


PART 2 : MANAGEMENT CONTROL

CHAPTER 9 : FROM STRATEGY TO ACTION

CHAPTER 10 : BUDGETING PROCESS

CHAPTER 11 : STANDARDS SETTING AND BUDGETARY CONTROL

CHAPTER 12 : TRADITIONAL SCORECARDS

CHAPTER 13 : BALANCED SCORECARD (classic and sustainable)

Learning outcomes of the learning unit

PART 1 : COST ACCOUNTING

At the end of this course, students should be able to :

§ explain aims of cost accounting

§ define and classify costs in actual, standard, direct, indirect, fixed and variable costs

§ calculate break-even-point and security margin

§ describe the various cost calculation methods

§ calculate costs with several methods and compare results

§ understand that cost calculation methods should have been chosen and applied according to specific criteria

§ comparer des données de coûts obtenues selon l'application de l'une ou l'autre méthode

§ analyse costs and margin and make decisions on that basis


PART 2 : MANAGEMENT CONTROL

At the end of the course, students should be able to :
§ explain budgeting process from strategic planning to management control

§ work out standard costs and budgets

§ calculate and analyse variances

§ work out and analyse various types of budgetary control spreadsheets

§ understand evolution of management control and namely the growing influence of global and sustainable performance measurement with management scorecards and Balanced Scorecards (with financial and non financial indicators)

 

These specific objectives mainly lead to the development of the following ILO :





  • To strengthen knowledge and understanding of main management disciplines and its legal, policy and social context
  • To understand, in management situations, the transversal tools of quantitative reasoning and information systems
  • To build and propose viable solutions to management problems
  • To work in team
  • To develop a critical sense
  • To develop a transversal and global vision
  • Faced with a management problem, to suggest solutions that are ethical and socially responsible and that respect the principles of good governance.
  • Be able of a good written communication
 

Prerequisite knowledge and skills

Accounting & Finance (= financial accounting)

Planned learning activities and teaching methods

Theoretical concepts, tools and methods are constantly illustrated by concrete examples.
Furthermore some sessions are organized in the form of reverse classes with wooclap tests.
Exercises based on actual cases are proposed to students during specific classes. Some external experts will be invited to illustrate the course.
Finally a complet case study must be solved (by group).

Mode of delivery (face to face, distance learning, hybrid learning)

Face-to-face é reverse classes (with wooclap)

Recommended or required readings

Slides PPT, case studies & exercises :

--> available at the "centrale des cours" and on the virtual campus Lol@

Exam(s) in session

Any session

- In-person

written exam ( multiple-choice questionnaire, open-ended questions )

- Remote

written exam ( multiple-choice questionnaire )

Written work / report

Continuous assessment

Out-of-session test(s)


Additional information:

1st session :

3 elements :

Continuous evaluation

Case study in groups

Individual written exam on concepts and exercises (in January)

Successful completion of the entire course is conditional on obtaining a mark of at least 50% on weighted average for the individual tests (continuous assessment and examination).


Any absence or "presence note" for one of these 3 parts will prevail for the wole final note.

 2nd session : Individual written exam.  The counters are reset to zero, i.e. neither continuous assessment points nor group work points are included in the second-session mark.

Work placement(s)

Organisational remarks and main changes to the course

Documents such as slides, exercises, case studies, videos; etc qill be available on Lol@ ; so students should consult it regularly.  Furthermore e-mails will be sent to students on their official ULiege e-mail address.

Within 4 weeks (maximum) of the publication of exam results (via Lol@ or MyULiège), students who wish to do so may come to HEC to consult their papers at a time agreed with the professor. To do so, they must attend a session scheduled for this purpose by the teacher or, if the teacher has not set a date when the results are communicated, request an appointment by e-mail within a maximum of one week of publication of the results.

Contacts

CHANTEUX Anne
Assistant professor / Lecturer
Department Finance, Accounting and Law
HEC-Ecole de gestion de l'ULiège
Rue Louvrex, 14 (room 202)
4000 Liège Bât. N1
Tél: +32 4 2327261
Email: Anne.Chanteux@ulg.ac.be

CAPODICI Joséphine
Assistant lecturer (cost accounting)
Department Finance, Accounting and Law
HEC-Ecole de gestion de l'ULiège
Rue Louvrex, 14 (room 207)
4000 Liège Bât. N1
Tél: +32 4 2327263
Email: giuseppina.capodici@ulg.ac.be

RIFFON Véronique
Assistant lecturer (management control)
Department Finance, Accounting and Law
HEC-Ecole de gestion de l'ULiège
Rue Louvrex, 14 (room 207)
4000 Liège Bât. N1
Tél: +32 4 2327340
Email: veronique.riffon@ulg.ac.be

Association of one or more MOOCs