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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2023/2024

Ekonomics and Finance

The course is not on the list Without time-table
Code Completion Credits Range Language
2381093 Z,ZK 5 2P+2C Czech
Garant předmětu:
Lecturer:
Tutor:
Supervisor:
Department of Management and Economics
Synopsis:

The topics of this course are tightly linked to the topics of the course Enterprise Management Economics. It develops more in deep basic set of knowledge and skills of mechanical engineers in managerial, economic and financial area. The course focuses namely on cost control in processes and activities management to be able to control the size of product costs. The focus is on costing, budgeting and also on utilization of the accounting information. In the financial area the emphases is on calculation of the size of working capital, management of liability items and on financial analyses. The problems of investment projects assessment are explained.

Requirements:

1.Key entities in Company Management Control. Process control and Activity Based Management as basic approaches in recent Company Management Control. Reasons for key role of costs in process management from the economic point of view.

2.In advance calculated costs. Ways of calculations. Reasons for its application in process management. Application areas. Technical and organizational factors in cost calculation.

3.Application of recent managerial approaches in Enterprise control. Essential features of Process control and Activity based control. Activity based Costing: Principles, advantages and problems. Product sets methodology (PSM) and its implications in strategic, operating and cost management.

4.Cost analyses and its application. Procedure of cost analyses. Key features of cost items. Costs as result of managerial decision.

5.Interaction between the costs and revenues. Costs and capacity. Reasons for costing. Approaches to costing.

6.Multilevel variable costing scheme. Alternatives in variable costing application. Variable costing structure with contribution margins by PSM application case. Criticism to costing surcharge techniques.

7.Hour cost tariff method (HOT-Method). Aim, key features, application principles. Alternatives of the HOT-Method: Basic, items, vertical and controlling. Typical application areas.

8.Operating budgets: Creation and assessment. Key interlinks to planning (incl. capacity planning), costing and technical figures. Procedures to cost item size calculation.

9.Cost control in new product development process. Utility, price, costs, technical solution of product and process - how is it linked together. Target Costing: Principles, problems, key features and key inputs.

10.Accounting from the technical point of view: Balance principles application. Application of double-entry and aggregative principles. Flexibility of accounting application.

11.Accounting information from the managerial point of view. Three balances system and its information message. Forms of accounting statements and reports (balanced, multilevel form).

12.Aims, tasks and risks in finance. Different approaches to risk.

13.Investment decision making processes. Static and dynamic methods for investment assessment. Key factors in calculations. Risks, time value of money.

14.Tools for static and dynamic finance analyses. Measurement in finance analyses: Single measures and sets of measures.

15.Working capital management. Interactions between natural and finance processes. Working capital calculation.

16.Financial resources. Internal financial resources.

17.Short time and long time financial resources.

Syllabus of lectures:

1.Key economic principles of enterprise management.

2.Application of recent controlling methodologies. Implications of Cost Control.

3.Interactions: Costs x Costing x Capacity utilization.

4.Costing methods - an overview. Application consequences.

5.Hour cost tariff (HCT)-Method and its alternatives. Managerial aspects of its application.

6.Cost control in new and innovative product development. Target Costing.

7.The accounting minimum for technicians.

8.Cost modeling.

9.Enterprise financial management - key principles.

10.Working capital management.

11.Financial analyses: Static and dynamic approach.

12.Financial resources and their management.

13.Assessment of the investment. Final summary and conclusions.

Syllabus of tutorials:

1.Introduction to the way of work in this type of course. Operating budget - how to manage it.

2.Debate to student?s presentations of Operating budgets. Introduction to the assignment on topic: Cost thinking.

3.Debate to student?s presentations of assignment on topic: Cost thinking. Analyses on Product sets methodology application.

4.Debate to student?s presentations of assignment on topic: Variable costing. Managerial consequences.

5.Debate to student?s presentations I of assignment on topic: HCT-Method-vertical alternative. Managerial consequences.

6.Debate to student?s presentations II of assignment on topic: HCT-Method-controlling alternative. Managerial consequences.

7.Debate to student?s presentations of assignment on topic: Accounting task solution. Managerial analyses of the figures.

8.Debate to student?s presentations of measures resulting from accounting assignment. Managerial analyses of the figures.

9.Debate to student?s presentations of assignment on topic: Circulating capital size calculation. Managerial analyses of the figures.

10.Debate to student?s presentations of assignment on topic: Measures of financial analysis. Managerial analyses of the figures.

11.Debate to student?s presentations of assignment on topic: Calculation of the credit size. Managerial analyses of the figures. Last date to making an agreement on the topic of a final assignment.

12.Debate to student?s presentations of assignment on topic: Calculation of the leverage effect of capital. Managerial analyses of the figures. Final test.

13.Debate to student?s presentations of assignment on topic: Investment project assessment. Managerial analyses of the figures. Summary.

Study Objective:

The course has been developed for other branches of the study at MF as the follow-up course to the course Enterprise Management and Economics. It summarizes principles of the recent approaches to enterprise control and shows them in interaction with appropriate economic control tools. The costing and budgeting are presented as the part of the integrated process control. The basic enterprise finance objectives and tools are explained. The static and dy-namic finance analyses, static and dynamic investment projects evaluation, capital structure optimizing are exemplified.

Study materials:

Basic:

(1)Freiberg, F.: Finanční management, Vyd. ČVUT

(2)Zralý M.: Řízení nákladů-Sbírka úloh, Vyd. ČVUT

(3)Macík, K., Zralý M.: Kalkulace a rozpočetnictví-Sbírka úloh, Vyd. ČVUT, 2006

(4)Zralý, M.: Syllabuses, cases, etc., incl. selected references 2005-2009, on internal server S: \Zraly ??

Other recommended:

Freiberg, F., Zralý, M: Ekonomika podniku, skripta ČVUT

Freiberg, F.: Finanční controlling. Management Press, Praha

Macík, K.: Účetnictví pro manažery, Grada

Valach, J.: Finanční řízení podniku. 2. vydání, Praha, Ekopress, 1999

Zralý M. a kol: Controlling a manažerské účetnictví jako nástroj integrace v podnikovém řízení, závěrečná publikace shrnující výsledky stejnojmenného projektu, Vyd. ČVUT v Praze, 2005

Zralý M.: Selected references 2005-2009, on internal server S: \Zraly??

Note:
Further information:
No time-table has been prepared for this course
The course is a part of the following study plans:
Data valid to 2024-07-22
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