How will you benefit

The Management Accounting module provides an introduction to the principles of costing and budgeting and their use in providing information to support management decision making. The skills and knowledge that students develop in this module are crucial in performing the finance professional roles of steward, enabler and innovator and underpin much of the activity associated with the business partner role.

In-class training for Management Accounting module is conducted in March and April 2019, followed by two examination sittings in June and September 2019. Participants, who successfully finish all exams will be awarded with internationally recognized CIPFA certificate. 

What will you learn

The module starts by putting the role of management accounting into context within the accounting and finance function and explains the value of useful management information. The module covers the nature of costs and cost behaviour, before focusing on the application of costing techniques such as marginal costing, absorption costing, activity based costing (ABC) and process costing. Students learn the key aspects of standard costing and variance analysis, and the use of costing information to evaluate performance using techniques such as customer profitability analysis and key factor analysis.
The other substantive area in the MA syllabus is budgeting. The importance of the budget setting process and the types and uses of budgets are explored before dealing with the practical skills involved in preparing budgets and estimating costs for inclusion in a budget using techniques such as regression analysis and learning curves.

Who should attend

In-class training and exams are available for accountants who work in public sector of Montenegro and are enrolled in the certification training project. 

Faculty (tutors)

The training is delivered by a team of six Montenegrin experts (tutors):

Vladan Martić, Assistant Professor at Mediterranean University in Montenegro — Accounting and Auditing Department

Igor Pavičević, Secretary General at the Institute of Certified Accountants of Montenegro

Mladen Vlahović, Ministry of Finance of Montenegro, Central Harmonization Unit

Ana Lalević Filipović, Professor at the University of Montenegro, Faculty of Economics

Srđana Miličević, Municipality Budva

Ivana Ćetković, Municipality Nikšić

 

Partners

This learning initiative is financially supported by the Ministry of Finance of the Slovak Republic, and the Slovene Ministry of Foreign Affairs through Slovenia's International Development Cooperation. The Ministry of Finance of Montenegro and the CEF will provide in-kind support to the project.