Planning and management control
We introduce you to the fundamental concepts and practices of business planning and management control. Our emphasis is placed on the role of planning and control in supporting organizational growth, decision-making, and adaptation to changing market conditions. You will develop practical skills in cost-volume-result analysis, budgeting processes, financial planning, and standard cost systems. Together we also explore performance evaluation techniques and analytical tools used to support managerial decisions and improve business efficiency. We want to provide you with knowledge about business management functions, namely planning and control functions. We will highlight their enormous importance for the survival of companies, as they provide them with a solid structure for growth and adaptation to market changes. We also want to introduce you to necessary tools, instruments, and techniques used in the scope of management planning and control. This is important because the planning function allows companies to anticipate potential obstacles and identify growth opportunities, offering a significant competitive advantage. On the other hand, management control plays a crucial role in monitoring and evaluating business performance. Assessment We have two assessment systems in place: The continuous assessment system is applied to all students, based on the following elements and respective weightings: 1st Written intermediate test – weighting of 40% (minimum grade of 7 points for continuous assessment). 2nd Written intermediate test – weighting of 40% (minimum grade of 7 points for continuous assessment). 2 Mini written tests (multiple choice tests to be taken in class) – weighting of 10% each. The final exam (normal period or appeal period) at the end of the semester, can be taken by students who do not pass the continuous assessment or wish to take an exam to improve their grade. The grades obtained in the assessment tests during the semester will not be rounded to the nearest unit. Only the final weighting grade of the four assessment elements will be rounded, and the student must obtain a minimum grade of 9.5 points to pass the UC. Grades above 17 will be assessed by an oral exam by a jury. Introduction: Planning and control as business functions Management functions The importance of planning Planning levels Advantages and limitations of planning Control function The CVR model and decision making The CVR model Mathematical approach of the model Safety margin and operating leverage Breakeven graph Alternative assumptions of CVR analysis Product mix CVR sensitivity analysis Differential costs and income and marginal cost Budgetary management The budget process Budget typology Operating budgets Financial budgets Budget final financial statements Standard cost system Concept, advantages and objectives of the standard cost system Deviations in raw materials, materials and other components Deviations in direct labor
