- 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
- 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.
- Budgetary systemsDescription 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.
- Quantitative analysis in budgeting.Analyzing fixed and variable costs. Forecasting techniques. Time series. Learning curves. Expected value, spreadsheets in budgeting.
- Standard costingDefinition and description of standard costing method. Peculiarities of the use of this method. The principle of controllability in the performance management system.
- 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.
- 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.
- Sources of management information.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.
- Management reports.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 private sector organisations.Financial performance indicators (FPIs) for profitability, liquidity and risk in both manufacturing and service businesses. Non-financial performance indicators (NFPIs). Past performance and ways for improving financial and non-financial performance. Causes and problems created by short-termism and financial manipulation of results and suggest methods to encourage a long term view. The Balanced Scorecard, and the Building Block model proposed by Fitzgerald and Moon. Difficulties of target setting in qualitative areas.
- Performance analysis in not-for-profit organisations 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.
- Balanced Scorecard in Performance Management.Corporate Strategy. Methods of strategy development. Norton & Kaplan Balanced Scorecard Model.
- Interim assessment (3 module)0.06 * Auditorial + 0.18 * Business game + 0.18 * Case + 0.4 * Exam + 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