Teaching at the University of Passau's chair of Management Accounting and Control focuses mainly on the areas of management accounting and control.
Management accounting deals with designing and operating information systems within a company. In general, there is a distinction between managerial and financial accounting. While managerial accounting is prepared for internal users (decision makers), financial accounting is prepared for external users (such as creditors, share holders, government, customers, suppliers etc.).
Typical information systems of a company include cost accounting (with costs and revenues being the relevant figures), capital budgeting (with cash flows being the relevant figures) as well as financial accounting (with accruals being the relevant figures).
While financial accounting mainly provides information and documentation on the basis of regulatory frameworks such as US-GAAP or IFRS management, accounting provides users with useful information in regards to decision-facilitating, decision-influencing as well as planning, controlling, and coordinating. As a connection between management and financial accounting, value-based management based on residual income is crucial. A further focus of the chair is on the field of company valuation.
The need for managment accounting and control has been derived from the main functions of this area which aim to plan, control, and coordinate the company. Main tasks are:
- „Scorecard Keeping“: Measuring the actual performance.
- „Attention Directing“: Design and implementation of a planning- and control system in order to identify relevant fields of action.
- „Problem Solving“: Participation in the process of problem-solving through generation of alternatives, evaluation of economic efficiency and securing rational decision-making.
The chair of Management Accounting and Control offers a broad range of Bachelor and Master courses in order to provide the students with the relevant methods and techniques in the various fields of management accounting. In order to illustrate the practical importance, guest speakers from science and practice hold lectures or seminars on a regular basis.