Duration
40h Th, 20h Pr
Number of credits
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the first semester, review in January
Schedule
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)
Course materials and 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