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ECTS Course Overview



Costs, Calculations and Prices

* Exchange students do not have to consider this information when selecting suitable courses for an exchange stay.

Course Unit Code154-0507/03
Number of ECTS Credits Allocated3 ECTS credits
Type of Course Unit *Choice-compulsory
Level of Course Unit *First Cycle
Year of Study *
Semester when the Course Unit is deliveredSummer Semester
Mode of DeliveryFace-to-face
Language of InstructionEnglish
Prerequisites and Co-Requisites Course succeeds to compulsory courses of previous semester
Name of Lecturer(s)Personal IDName
LIS10Ing. Karolina Lisztwanová, Ph.D.
KRE330doc. Ing. Aleš Kresta, Ph.D.
Summary
The course focuses on the cost theory and its aplication in economic mangament
system, inlcuding the issues of short-run decision-making techniques based on
account statements, cost allocation, methods of building up and application of
costs calculations and the relationships to controlling and profit area. The
course also focuses on price determination, particular methods and firm
strategies, respecting the legal codes of this area.
Learning Outcomes of the Course Unit
This course is devoted to:
orientation and understanding costs theory and their management with
respect to economy and effectiveness of entrepreneurial activity,
gain ability to identify and quantify variable and fixed costs with the
assistance of costs modelling methodology,
gain ability of short - term decision - making technique in homogenous
and heterogeneous production,
gain ability of costing with application appropriate calculation
techniques and methodologies,
gain knowledge about pricing low and basing approach of price - making.
Course Contents
1. Development, conception and procedural concept of costs, relation of costs and expenses, concepts of revenues and income, principle of economy and efficiency, accounting and economic conception of costs. Performance, classification of production and performance for the needs of economic management tasks. Profit.
2. Structure and classification of costs according to type and classification purposes, the importance of their use in control and cost management. The economic structure of the company. Classification of centers of economic structure of the company for the purpose of accounting and cost management according to the principles of responsibility.
3. Classification of costs according to decision-making processes and their use in management accounting.
4. Classification of costs according to the relation to change in the output volume, absolutely fixed and relatively fixed costs, used and unused fixed costs, relative savings in fixed costs, variable costs, coefficient of reaction. Mixed costs, sticky cost.
5. Differential and incremental costs. Classification of revenues.
6. Cost models and their classification. Methods of estimation of fixed and variable costs. Linear cost function and its use in economic management.
7. Short-term decision-making techniques based on accounting information – theory of break-even point in homogeneous and heterogeneous (assortment) production. Method of variable costing (direct costing).
8. The role and use of calculations in the economy. The basic concepts used in the theory of calculations. Place of calculation system in the system of economic management of a company, relations of the calculations to other information systems.
9. The form and the structure of calculations, calculation formula with regard to the purpose of calculations’ usage, general calculation formula, responsibility of calculations’ compilation.
10. Types of calculations – classification and characteristics of calculations’ types in relation to time of compilation and their function in economic management. Principle of Target Costing.
11. Calculation techniques – simple division, division with ratio numbers, surcharge costing, activity based costing.
12. Calculation techniques – individual calculations, calculations of combined performance, calculations of phase and stepped production.
13. Price functions in the economy. Theoretical aspects of pricing, legislative regulation of prices in the Czech economy.
14. Cost-oriented pricing methods and their use – cost-price relationship, parametric pricing, modularity and others. Market-oriented pricing methods.
Recommended or Required Reading
Required Reading:
HANSEN, D. R. and M. M. MOWEN. Cornerstones of cost accounting. Mason: South-Western Cengage Learning, 2011. ISBN 978-0-538-73678-7.
KAPLAN, Robert S. a Steven R. ANDERSON. Time-Driven Activity-Based Costing: a simpler and more powerful path to higher profits. Boston: Harvard Business School Press, 2007. ISBN 978-1-4221-0171-1.
KEAT, P. G., P. K. Y. YOUNG and S. E. ERFLE. Managerial economics: economic tools for today's decision makers. 7th ed., global ed. Boston: Pearson, 2014. ISBN 978-0-273-79193-5.
HANSEN, D. R. and M. M. MOWEN. Cornerstones of cost accounting. Mason: South-Western Cengage Learning, 2011. ISBN 978-0-538-73678-7.
KAPLAN, Robert S. a Steven R. ANDERSON. Time-Driven Activity-Based Costing: a simpler and more powerful path to higher profits. Boston: Harvard Business School Press, 2007. ISBN 978-1-4221-0171-1.
KEAT, P. G., P. K. Y. YOUNG and S. E. ERFLE. Managerial economics: economic tools for today's decision makers. 7th ed., global ed. Boston: Pearson, 2014. ISBN 978-0-273-79193-5.
Recommended Reading:
GARRISON, R. H., E. W. NOREEN and P. C. BREWER. Managerial accounting. 14th ed. New York: McGraw-Hill/Irwin, 2012. ISBN 978-0-07-811100-6.
HORNGREN, C. T. Introduction to management accounting. 15th ed. Harlow: Pearson, 2011. ISBN 978-0-273-75583-8.
BIERMAN, H. An introduction to accounting and managerial finance: a merger of equals. Singapore: World Scientific, 2010. ISBN 978-981-4273-82-4.
DATAR, S. M. and M. V. RAJAN. Horngren’s cost accounting: a managerial emphasis. 16th edition. Harlow: Pearson, 2018. ISBN 978-1-292-21154-1.
HORNGREN, C. T., S. M. DATAR and M. V. RAJAN. Cost accounting: a managerial emphasis. 14th ed., global ed. Harlow: Pearson, 2012. ISBN 978-0-273-75387-2.
GARRISON, R. H., E. W. NOREEN and P. C. BREWER. Managerial accounting. 14th ed. New York: McGraw-Hill/Irwin, 2012. ISBN 978-0-07-811100-6.
HORNGREN, C. T. Introduction to management accounting. 15th ed. Harlow: Pearson, 2011. ISBN 978-0-273-75583-8.
BIERMAN, H. An introduction to accounting and managerial finance: a merger of equals. Singapore: World Scientific, 2010. ISBN 978-981-4273-82-4.
DATAR, S. M. and M. V. RAJAN. Horngren’s cost accounting: a managerial emphasis. 16th edition. Harlow: Pearson, 2018. ISBN 978-1-292-21154-1.
HORNGREN, C. T., S. M. DATAR and M. V. RAJAN. Cost accounting: a managerial emphasis. 14th ed., global ed. Harlow: Pearson, 2012. ISBN 978-0-273-75387-2.

Planned learning activities and teaching methods
Lectures, Tutorials
Assesment methods and criteria
Tasks are not Defined