Management

Acquire and/or complete accounting and financial knowledge in order to be able to:
- Calculate the cost of a product
- Financially select a product range
- Calculate a workload
- Draw up a budget

First-year courses

Economic management:
Introduction and role of cost accounting.
Why cost accounting? Objectives and characteristics.
The vocabulary of "cost accounting": notion of cost and price, notion of fixed and variable charges, notion of direct and indirect charges and notion of analysis center (main, auxiliary), distribution (primary and secondary) and notion of work unit.
Applications: How much does a function cost?
Calculating the cost of a product?
The importance of costing
The different calculation methods: full costing (table of supply costs at cost), inventory valuation and incorporation, and the calculation formula.
Direct costing: variable costs, fixed costs and the margin on variable costs at profit.
How to choose the most profitable product?
The notion of hourly margin and marginal cost:
Principles and application, technical optimum (production level at minimum average cost), economic optimum (production level at maximum profit) and application (additional order, additional market)
Monitoring and control of production costs: the variance analysis method (the different phases of the MARP method) and the notion of fixed costs (the different types of fixed costs, from charges to fixed costs and calculation of a fixed production cost).
The notion of standard cost: Application to the occupancy rate of industrial equipment and the notion of synthetic yield rate
The notion of forecast costs.
Calculation of total variances: Formulation and analysis of variances.
Corrective actions
More recent cost management methods
Cost calculation method: ABC
Company budget construction
From the company manager's strategic decisions to the global budget: rules for drawing up budgets.
What are the different functions involved?
What resources are needed to achieve the company manager's objectives? The 5 M's
From sales budget to global budget
Production budgets
The links between production budgets and production management: a reminder of the MRPII method.
How to determine personnel requirements?
How to determine material requirements?
Where to find the information?
The purchasing budget
Investments: Reminder of a few concepts.
What are the different criteria to be taken into account?
Economic interest of the project, financial profitability forecast, free cash flow, traditional profitability criteria and capital discounting
Applications:
How to calculate the profitability of an investment?
How to choose the most profitable investment?
Different financing methods: How to calculate a loan? Self-financing, leasing.
How to choose the least costly?
Overall budget
Forecast balance sheet and income statement
Forecast cash flow
Case study

Business, Trade and Culture