FIN41 Management Accounting and Finance

Module Name
Management Accounting and Finance
Module Code
1, 2
Justice Kyei-Mensah, Rob Berkhof
Bachelor Degree or equivalent managerial working experience
Management accounting is the process of supplying the managers and employees in an organization with relevant information, both financial and non-financial, for making decisions, allocating resources, and monitoring, evaluating, and rewarding performance. The reported expense of an operating department, such as the assembly department of an automobile plant or an electronics company, is one example of management accounting. Every manager confronts situations in which the financial information needed to make certain decision is not present. And if that information is available, the manager needs to be able to read and interpret it. This module provides you with various concepts approaches and tools so that you can be a discussion partner in the financial domain with senior managers. The module integrates state-of-the-art thinking on recent innovations in management accounting, in particular on: the Balanced-Scorecard and strategy maps, time-driven activity-based costing for product and customer productivity analysis, target costing, environmental costing, and the design of management control systems.
  • Apply knowledge of the strengths and weaknesses of Management Accounting (MA) and Micro-finance issues ( including aftermath matters of the credit crisis)
  • Able to present proposals on how to improve the internal reporting of an organization on management accounting information for decision making and processes
  • Identify different cost control modes of cost calculation and cost-related behavior
  • Evaluate cost calculation systems including cost information for pricing and product range decisions
  • Be able to perform auditing control of budgeting and investment processes
  • Evaluate and critically defend an organization’s financial position based on indicators and financial risk management
  • Design Balanced Scorecard and Assess Performance Indicators
  • Justify budgets and critically analyse financial and economic reports to realize organizational objectives (making business plans including: investments, financing, production and finalization)
  • Produce recommendations and action plans on different financial reporting strategies

Management accounting:

  • Management accounting: introduction and codes of conduct
  • Cost control and cost-related behaviour
  • Traditional systems of cost price calculations
  • Cost differentiation according to activity-based costing
  • Management accounting information for decision making and processes
  • Cost information for pricing and product range decisions
  • Management accounting and control systems
  • Behavioural aspects of Management Accounting
  • The Balanced Score Card
  • Key Performance Indicators for a strategy-oriented organization (and their pitfalls)
  • Budgets and their use to realize organizational objectives


  • Financial statements
  • Financial concepts and tools
  • Instruments and transactions
  • Common and preferred stock
  • Loans and bonds
  • Investment funds
  • Derivatives and insurance
  • Corporate finance
  • Participants and markets
  • Financial participants
  • The global finance markets.
Instruction / Study Load
  • 36 Lesson hours
  • 101 Hours of reading literature, completing the handbook and preparation for examination.
  • 3 Examination Hours

Total 140 Hours

IBA Final Qualification Mapping
Mapped with numbers: 6, 7, 21, 25 and 26. See the EEG for further reference.
Teaching Language
Teaching Methods
  • Classroom lecturing
  • Case study discussions
  • Discussion sessions
  • Research Papers
  • Creating and using financial scenarios
  • Financial simulations
Module / Lecture and seminar status
Testing and assessment
Note: This is a Semester 1 Module 3 hour closed book Examination during exam week. See the Handbook and the EEG for further reference
European Credits
Required literature
  • Atkinson A.A., Kaplan R.S., Matsumura E.M. and Young S.M. (2012). Management Accounting. Information for decision making and strategy execution. International Edition. Sixth Edition. Harlow UK: Pearson Education Ltd. ISBN 10: 0-273-76998-7; ISBN13: 978-0-273-76998-9
  • Banks E. (2011). Finance, the basics. Second Edition. Abington (US): Routledge. ISBN13: 978- 415-57335-8.