27210047 - Management Control

Diploma level Bachelor - Semester 6
Credit hour 3
Total number of hours 19
Number of hours for lectures 12
Number of hours for tutorials 7


TCost Estimating course discusses the requirements and need for preparing cost estimates, introduces fundamentals of estimating best practices, and demonstrates the steps taken to build an estimate. Trainees will learn not only how to build an estimate but also the pitfalls estimators fall into while developing them and where cost can go bad without proper analysis.

Lessons learned will be provided for each of the major steps of the estimating process, which includes: identifying purpose, scope, ground rules and assumptions; selecting methodologies;
identifying risk; and documenting the estimate

This course introduces the basic theory and principles of benefit-cost analysis and examines applications of the methodology.

The link between all budgets and how to built one budget in order to meet the target defined by Top Management will also be included.

This course teaches the fundamentals of cost analysis techniques and enable to:
- Use cost accounting to improve profits
- Select the cost system that’s right for your company
- Measure results against budgets with greater accuracy
- Use cost accounting to optimize the use of people, resources and materials
- Relate cost accounting to financial accounting and the planning and control process
- Enhance budgeting accuracy
- Know the requirements for establishing a direct costing system
- Audit and IS

You'll be able to:
- Set forth the reasons to accomplish effective cost analysis
- Recognize, evaluate, and negotiate elements of suppliers costs
- Identify appropriate outputs for an organizational unit or program component,
- Determine and apply the costs estimated
- Evaluate the feasibility of contracting for selected services
- Prepare justifications for performance budgets,
- Use efficiency measures as an aid to program management
- Determine and apply the costs estimated to produce those outputs, and
- Calculate a cost per unit of output


Part 1: cost management

1.1 - CVP
- distinguish between fixed and variable costs
- use this disctinction to explain the relationship between Cost, Volume & Profit (CVP)
- deduce the Break-even Point (BEP) but also the weaknesses of the BEP analysis
- demonstrate the way in which marginal analysis can be used when making short term decision

1.2 - Full costing
- discuss the usefulness of deducing the full ccot of an unit of output for decision-making purposes
- decuce the full cost og an unit of output both in a single-product environment and in a multiproduct environment using the traditional full cost method
- discuss the problems of charging full costs to jobs to a multi-product environment
- explain the role and nature of ABC Activit--based Costing

Part 2: Budget
- discuss the planning framework
- if possible go into detailed aspects of budgeting process

Part 3: Scorecard: KPI & Strategy

Part 4: Audit

Information System, Excel as crossdisciplinary


  • Accounting & Finance For Non-specialists, Peter Atrill, Eddie McLaney, Prentice Hall, 6th edition (Financial Times)


Final Exam
Written, MCQ

Continuing Examination
In class examination

Additional Information

Flipped Classroom
Case studies
Case work in group

Blended (video)

Corporate Finance class
Familiarity with:
- basic probability and statistics
- the use of spreadsheets