Managerial Accounting


Course Contents

  1. The concept of Managerial Accounting and the differences with Financial Accounting.
  2. The concept of cost in various forms (Cost, output, Expense).
  3. Fundamental concepts of costing.
  4. Analytical Examination of the elements of Cost Production
  5. Elements of Cost and the Control Techniques.
  6. Fixed – Variable Costs, Cost Sharing.
  7. Direct – Indirect Costs (Labor and Industrial Expenses).
  8. Relations of Cost- Volume of Sales-Profit. Finding-analysis of the turnover break-even point.
  9. Pricing of Products and Services, related costs and decision-making.
  10. Budgets.
  11. Linking budget statements of Managerial and Financial Accounting.
  12. Linking of the above 11th point with Cash Flows.
  13. Module revision.

Educational Goals

The context of the module is to focus on the practical aspects of managerial accounting and the application of cost or other data sets in different types of business entity. Initially, students will understand and consolidate the different methodologies in costing, their particularities and how they might be adapted to any type of business entity. In particular, through lectures and practical exercises, which include case studies, students will immerse themselves in various stages of costing and be able to use the various quantitative methods both per cost center and for a business entity as a whole. In addition, they will understand and learn managerial accounting and will entry the data into files coming from calculations and costing findings, regardless of the method used and how costs are allocated to different functions, departments or other subdivisions of the business entity. They will learn the difference of expenses and the criteria for classifying them in categories and how to treat accounting as well. They will learn the essential differences between variable and fixed costs as well as direct and indirect costs, how these affect the business unit, and the right way to entry the data to the accounting system, in a useful way for making managerial decisions.

They will learn to calculate the “break even” point for each business unit by their product. They will learn to perform Sensitivity Analysis per production cost, both in relation to the variable costs of a business unit and in relation to the selling price of the product.

Finally, they will acquire the ability to use various data sets to identify the important deviations of the company and to propose solutions for those that are in a difficult situation.

Upon successful completion of the course, the students will be able to:

  • Know the different parameters of the costing process of a business entity.
  • Know how to amortize costs to the various functions, departments and sub-units of the business.
  • Know how to calculate direct and indirect costs, as well as fixed and variable costs of a business.
  • Know how to calculate the “breakeven point” of a business.
  • Know how to perform Sensitivity Analysis in terms of variable costs and the selling price of each product of any type of business.
  • Propose solutions to successfully deal with the problems faced by the company, based on its costing and other data sets.

General Skills

  • Working independently.
  • Decision making.
  • Production of free, creative and inductive thinking.

Teaching Methods

  • In the classroom, face to face.

Use of ICT means

  • Basic software (windows, word, power point, the web, etc.).
  • Support of learning process through the electronic platform / e-class.

Teaching Organization

ActivitySemester workload
Practice Works13
Assignement (Essay writing)20
Independent Study66

Students Evaluation

Written final exams (60%) that may include:

  • Judgemental questions
  • Short answer questions
  • Application exercises
  • Comparative theoratical questions

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

  1. Διοικητική Λογιστική για Λήψη Αποφάσεων, Καρτάλης Νικόλαος, 2017, Εκδόσεις Μπαλουκτσή Βασιλική, ISBN: 978-618-83364-3-8.
  2. Μηχανογραφημένη Κοστολόγηση, Καραγιώργος Θεοφάνης, Πετρίδης Ανδρέας, 2015, Εκδόσεις Αφοί Θ. Καραγιωργου Ο.Ε., Θεσσαλονίκη, ISBN: 978-618-82147-1-2.
  3. Κοστολόγηση, Μπογάς Χρήστος, 2015, Εκδόσεις Χαρις Μ.Ε.Π.Ε., ISBN: 978-960-93-7220-6.

Related Research Journals

Accounting and Business Research; Journal of Business Finance and Accounting; Management Accounting Research; International Journal of Managerial and Financial Accounting; Journal of Management Accounting Research; Journal of Management Control; Managerial Auditing Journal; κ.ά.