Content, progress and pedagogy of the module

The purpose of this module is to provide knowledge of the theory and practice of management accounting and risk management. It is important for CFO’s, controllers, auditors, and management accountants to understand and be able to make decisions upon regarding a company’s ies’ financial position. Such decisions are best taken when management accounting information, such as cost allocation analyses, performance measurement, risk assessment, and profitability data related to customers, products, and suppliers customer, product and supplier profitability data, areis available and applied effectively. The module covers various approaches of applying such management accounting information. It introduces the Danish-developed Variability Accounting System (variabilitetsregnskabet) alongside various contemporary performance management approaches that organizations employ in navigating today’s complex business environments.

This module introduces the ways of producing information pertaining to management accounting issues, in some cases using an IT tool such as Excel, and also provides the skills to critically evaluate such information for decision-making.

The module will also provide the basics of risk management and its role in companies’ business environment, strategygovernance, and management control systems. This involves the frameworks challenges, tools and the procedural foundations sses of risk management, alongside thetogether with the compliance with regulatory and professional standards. Approaches to identifying, assessing and prioritizing risks are introduced that facilitate managerial decision-making and choices , allowing the students to assess the risk factors that might be involved in choosing between different alternative business strategies and business modelsoperations of anthe organization. It assists the students in understanding what is contained in the dynamics and technical applications of risk management.Students will develop an understanding of the dynamics and technical applications of risk management, and how these can be integrated with management control systems to create a more resilient and value-driven organization.

Learning objectives

Knowledge

The objective is that the student after the module possesses the necessary knowledge on:

• the relevant concepts of management accounting
• the various management accounting methods in cost, performance, and profitability analysis
• the frameworks tools and procedural foundations sses of risk management

Skills

The objective is that the student after the module possesses the necessary skills in:

• using management accounting information in decision-making
• carrying out cost, performance, and profitability analyses
• identifying and assessing various risks related toassociated with the strategy, business model, environment and operations of an organization

Competences

The objective is that the student after the module possesses the necessary competences in:

• choosing between and critically assessing the available accounting methods and frameworks for particular decision-making situations
• developing and designing employing the risk management and assessment procedures related to external and internal reportingin the organization

Type of instruction

For information see § 17.

Exam

Exams