- This course will provide participants with an understanding of the techniques used to analyze in budgeting, alter and evaluate the key competitive value drivers of a firm, make the performance analysis and assess the nature and likelihood of future cash flows. We begin by reviewing the basics of budgeting and accounting information. Next we deepen our examination of quantitative analysis in budgeting and move to the standard costing and variances analysis. Then, we look at performance management information system and its connection with the performance analysis. We will study the sources of management information, management reports and then we will move to the performance analysis for different purposes.
- Ability to develop business plans
- Skills of presenting the investment projects
- Ability to interpret the financial information about the enterprise performance
- Ability to prepare analytical report about the enterprise performance
- Abilityto set up tasks and find the correct and useful analytical tool for project analysis
- Ability to use the performance measurement tools, analysis and construction of measurement systems for a variety of purposes
- Skills of using techniques of financial analysis in the area of managing the company's activities in order to increase its efficiency
- Basic of Performance ManagementSteps in Performance Management. The characteristics of the effective performance measures. The diagnosis of business process.Principles of the Project Management.
- Balanced scorecard (BSC) in Performance Management.Main ideas of BSC model. The role of the BSC in Performance Management.
- Budgetary systems.Description of budgetary systems. Information used in budget systems and the sources of the information needed. Difficulties of changing a budgetary system. How budget systems can deal with uncertainty in the environment. Different budget types. The difficulties of changing the type of budget used.Budgeting and BSC model. Definition and description of standard costing method. Peculiarities of the use of this method. The principle of controllability in the performance management system.
- Quantitative analysis in budgeting.Analyzing fixed and variable costs. Forecasting techniques. Time series. Learning curves. Expected value, spreadsheets in budgeting. Variance analysis. Causes and effects of the material mix and yield variances. Changes in the structure and volumes the materials used in the manufacturing process. The issues involved in changing material mix e.g. cost, quality and performance measurement issues. The relationship of the material usage variance with the material mix and yield variances.The alternative methods of controlling production processes.Analysis of the main causes and effects of the sales mix and quantity variances. Revised budget. Different types of planning and operational variances. Calculations. Changes in budgets.
- Performance analysis and behavioural aspects.Analysis and evaluation the past performance using the results of variance analysis. Variance analysis for the assessment of the future performance of an organisation or business. The factors which influence behaviour. The effect that variances have on staff motivation and action. The benefits and difficulties of the participation of employees in the negotiation of targets. The dysfunctional nature of some variances in the modern environment of JIT and TQM. The behavioural problems resulting from using standard costs in rapidly changing environments.Forensic expertise: case analysis.
- Performance management information systems.The accounting information requirements. The different types of information systems used for strategic planning, management control and operational control and decision-making. The main characteristics of transaction processing systems; management information systems; executive information systems; and enterprise resource planning systems. The merits of, and potential problems with, open and closed systems with regard to the needs of performance management.Elements of the Project Management. The principal internal and external sources of management accounting information. The use of the principal sources of management information for control purposes. Direct data capture and process costs of management accounting information. The indirect costs of producing information. The limitations of using externally generated information. Types of the management reports. The principal controls required in generating and distributing internal information. The procedures that may be necessary to ensure security of highly confidential information that is not for external consumption.
- Performance analysis in not-for-profit organizations and the public sector.Peculiarities and difficulties in the performance analysis in not-for-profit organizations and the public sector. Aims of the not-for-profit organizations and the public sector.
- Sustainability performance measurement (SPM)Basic terms and indicators. Managing growth.
- Role of the Project Management in the Performance Management Frame work.Fundamentals of the Project Management. Rapid Foresight in Project Planning
- System of Investor Relations and Performance Management FrameworkFundamentals of the IR. Main principles, functions. The role of IT in the Performance Management. The place of IR in the corporate hierarchy. Basic of the project finance.
- Business game
- AuditorialAuditorial grade is grade for work on tutorials & for attendence . You may find detailed information in the course presentation in LMS.
- Exam Test (online, zoom)Оfinal result = 0.4 Оexam + 0.6 Оaccumulated , where Оaccumulated** = 0.3 Оtest + 0.3 Оbusiness game + 0.2 О cases +0.2 Оauditorial If accumulated mark equals to 7,8,9,10 the student does not need to pass the exam. Accumulated grade in this case = final grade Exam will be organized online , in zoom
- Interim assessment (3 module)0.06 * Auditorial + 0.18 * Business game + 0.18 * Case + 0.4 * Exam Test (online, zoom) + 0.18 * Test
- Cardy, R. L., & Leonard, B. (2011). Performance Management: Concepts, Skills and Exercises : Concepts, Skills and Exercises (Vol. 2nd ed). Armonk, N.Y.: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=929342
- Cokins, G. (2009). Performance Management : Integrating Strategy Execution, Methodologies, Risk, and Analytics. Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=317048