Management Accounting implies collection, classification, processing and interpretation of accounting information, that are created in order to support capital owners and managers in the managing, planning and control activities. The goal of this course is to enable students to complete and integrate components of strategic considerations needed to engineers on different positions within business functions. Students will learn to: (1) Understand the environment within accounting information emerge and are used; (2) Develop and strengthen strategic component of thinking; (3) Focus attention from preparation of accounting information towards their application and interpretation; (4) Use financial statements for strategic managing of organization 5) Understand the calculation methods of particular values.

After the course and passed exam students will be able to: (1) use creatively and on their own accounting records, financial statements and accounting information in the management process; (2) use accounting tools in order to analyze business, make conclusions, suggest and compare different strategies; (3) create strategic accounting policy as a tool for implementation of a defined strategy; (4) participate in the implementation of a strategy as engineers on the management position.

1) Accounting information as a support to the management process: Corporate management, Information as a management assumption 2) Accounting – the term and basic categories: types of financial statements 3) Accounting process and policies: accounting evidence, journal and general ledger, financial statements, accounting policy. Audit and analysis as assumption of qualitative financial statements: Audit as an assumption of reality, instrument and methods of analyze. 5) Management accounting: costs, expenditures and outflows – classification and main differences; The basic types of cost and expenditures; Traditional and modern cost concepts; Calculation; Budgeting. 6) Break even point; Evaluation of effects of capital investment; Incremental analysis. 7) Assets and capital evaluation: methods and evidence.

Lecturers use audiovisual aids. Auditory practice. Case studies – establishing of a company, evidence of business transactions, preparing of financial statements, making of strategic decisions regarding accounting policies. Consultations.