MINISTRY OF SCIENCE AND EDUCATION OF THE REPUBLIC OF KAZAKHSTAN
NEI «ALMATY MANAGEMENT UNIVERSITY»
DEPARTMENT: “VALUATION, ACCOUNTING AND AUDIT”
Approved
at the meeting of the Educational
and methodical Council
Chairman
___________ N. Duysengulova
«__» ____________ 2014., №__
Academic program: Bachelors
Specialty: 5B050900 - “Finance”
Form of study: daytime
SYLLABUS
on the course: “Company value management”
Year: 4
Semester:7
Number of credits:3
Lecturer: MBA, PhD candidate Alma Karshalova
Phone number: 302 21 48, room #121
Almaty, 2014
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Completed by: MBA, PhD candidate _____________________
Alma Karshalova
The syllabus has been developed on the basis of the Working curriculum of the discipline for
students of the Specialty: 5B050900 - “Finance”
The syllabus was reviewed at the meeting of the Department of “Valuation, accounting and
audit”
Protocol №1 from “25” August 2014.
Head of the department “Valuation, accounting and audit”
c.ec.s., Docent_____________________
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L.Nurgazieva
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Introduction
This discipline considers and examines the reveals a role in improving the level of cost and
effectiveness of production and economic activity in the enterprises, as cost is the basis for the
formation of all the cost indicators of the economy.
Methodology of teaching this discipline provides for:
- Lecturing;
- Practical classes conduction;
- IWST;
- IWS.
The purpose of teaching this discipline is to consider during the course of the fundamental
fact involving the study of problems in organization, planning and management in market
economy conditions and management strategies to ensure efficient operation of production
systems.
The objectives of teaching this discipline are: to give students theoretical knowledge about
the essence, the basic laws and principles, cost classification in management; to teach the methods
of design and simulation of production, labor and management processes in the enterprise; to
familiarize with the practical methods of diagnosis costs for the company and the choice of routes
and directions to reduce them; to generate knowledge and skills in organizing and managing the
process and ensure the effective functioning of the enterprise.
Prerequisites: Accounting, Financial accounting
Postrequisites: Advanced managerial accounting
Upon completion of this discipline students must:
master the following competencies according to the competence model of the bachelor
General competencies:
- to know theoretical principles of natural sciences (social, humanitarian, economic), which
contribute to the formation of a well-educated person with a spacious mind; Foundations of
Accounting, Economics, Management, Marketing, Finance, Taxation; Basics of the legal system
of the Republic of Kazakhstan;
- to be able to adequately navigate various social situations; Work in a team; to defend their
positions, and suggest new approaches; Reach compromise, correlate their opinions with the
opinions of the team members; Aim or professional and personal development; Use information
technologies in their professional work; Navigate information streams, and be able to face
challenges of the world economy;
- to have skills in: research skills necessary for day-to-day professional activities and possible
study at master’s programs; Operating an office equipment; Compliance with ethical and legal
norms;
Subject-specialized:
- to know about the essence, the basic laws and principles, cost classification in management;
- to be able to understand practical methods of diagnosis costs for the company and the choice
of routes and directions to reduce them;
- to have skills in organizing and managing the process and ensure the effective functioning
of the enterprise;
Economic and organizational and managerial competencies:
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- to know objectives of the governmental regulation of the economy, and a role of public
sector; Business ethics;
- to be able to follow the common social and ethical norms in their professional life;
- to have skills in decision-making;
CALENDER AND THEMATIC PLAN
№
Theme
1
2
1
The
economic
nature
classification of costs
and
Distribution of classes by weeks
Practical
IWS/
IWST/
Lectures
classes
IWU
IWUT
3
4
5
6
1-2
1-2
2
1-2
Calculation of production costs
2-3
2-3
2-3
2-3
3-4
3-4
3-4
3-4
3
Cost-benefit analysis when making
short-term management decisions
Cost-benefit analysis when making
decisions on capital investments
4-5
4-5
4-5
4-5
4
Planning (budgeting) costs
5-6
5-6
5-6
5-6
The cost of materials
6 -7
6 -7
6 -7
6 -7
labor expenses
7-8
7-8
7-8
7-8
2
5
6
7
8
9
10
11
12
13
14
15
Midterm control 1
General and administrative expenses
8-9
8-9
8-9
8-9
Research and development expenses
9-10
9-10
9-10
9-10
Overhead
10-11
10-12
10-12
10-12
Value analysis (FCA): goals,
objectives, methods and procedures
12-11
12-11
12-11
12-11
Controlling the enterprise
12-13
12-13
12-13
12-13
The strategy of the firm in relation to
costs
13-14
13-14
13-14
13-14
Cost Control
14-15
14-15
14-15
14-15
15
15
15
Transfer Prices
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15
Midterm control 2
Exam
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Content of practical classes, form of control and grading
Theme
№
Questions for practical
classes
1
2
Literature
3
Form of
control
Max.
score
4
5
1
The subject of the Main literature #1 and
discipline,
"Cost #2
Management".
Classification of costs.
Problem
Solving, by
definition,
marginal,
average
(constant,
variable, total)
costs.
100
2
Full costing. Methods of Main literature #1 and
cost allocation. The basic #2
unit of calculation.
The solution of
problems to
determine the
cost of
production of
various
enterprises in
the
manufacturing
process.
100
3
Break-even
point. Main literature #1 and
Opportunity
costs. #2
Relevance
and
management decisions.
Determination
of break-even
point. Conduct
cost-benefit
analysis for
decisionmaking on
whether
production,
structure and
volume.
100
4
Investment strategy of Main literature #1 and
the company: the nature #2
and design principles and
methods of assessment.
Performance evaluation
of alternative investment
proposals. The financial
investment.
Analysis of
investment.
The calculation
using the
methodology
for assessing
the investment
attractiveness
of the
enterprise.
100
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Theme
№
Questions for practical
classes
Literature
Form of
control
Max.
score
1
2
3
4
5
7
Forms
and
payroll Main literature #1 and
system. Payroll (payroll) #2
and its composition.
Taxes and deductions
from payroll.
Identifying the
economic
importance of
labor costs of
staff
100
8
The cost of maintaining Main literature #1 and
an office. Third party #2
services: banking, audit,
legal
and
telecommunications.
Organizational
and
travel expenses.
Analysis of the
cost of the
office
(electricity,
utilities,
security
services),
training costs,
social support,
sponsorship
and
philanthropy.
100
9
Types of strategies. New Main literature #1 and
product
development: #2
stages of the problem.
The optimal level of
innovative product
Analysis based
on the costs of
research and
development
work on the
innovation
strategy firm.
100
10
Transportation
and Main literature #1 and
procurement costs. Costs #2
of
production
infrastructure
and
maintenance of the
production process. The
cost of repairs of fixed
assets.
Analysis of
transport and
harvesting
costs, costs of
production
infrastructure
and service
production
process for the
production of
raw materials,
fuel, energy,
tools, repair
expenses of
fixed assets.
100
11
The concept of FCA. Main literature #1 and
Stages of the VEA. #2
Advantages
and
disadvantages of FSA.
Solving
problems using
techniques of
Value
Analysis.
100
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Theme
№
Questions for practical
classes
Literature
Form of
control
Max.
score
1
2
3
4
5
14
The internal control Main literature #1 and
structure and function. #2
The effectiveness of
accounting and control
systems.
Factors
affecting the internal
control system
Analysis of the
effectiveness
of accounting
and control
systems.
100
15
Objectives of transfer Main literature #1 and
pricing. Methods of #2
transfer pricing Transfer
pricing, determined by
the method of "cost +"
Solving
problems with
the use of
transfer pricing
methods.
100
IWST SCHEDULE*
Theme
№
Assignments for IWST
1
2
Literature
3
Form of
control
4
Deadline
(week)
Max.
score
5
6
1
Subject
matter
and Main literature Written,
terminology: the cost, costs, #1 and #2
oral
expenses, costs, and their
check
similarities and differences
from each other.
Classification
of
costs
according to their economic
homogeneity.
Classification
of
costs
according to their impact on
changes in the volume of
production
1-2
100
2
Types of calculations, the Main literature
methods of calculation of the #1 and #2
cost of production.
Calculation of the cost of
production at the complex use
of raw materials.
Factors
affecting
the
calculation of the cost of
production.
2-3
100
Ф-ПР-02.3.2-05-2014-03 Syllabus
Written,
oral
check,
Quiz #1
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Theme
№
1
Assignments for IWST
Literature
Form of
control
Deadline
(week)
Max.
score
2
3
4
5
6
Writte
n, oral
check,
Quiz
#2
5-6
100
5
Procedure
for
the Main literature
development
of
cost #1 and #2
estimates.
The procedure for calculating
the interest rate of indirect
costs.
Flexible costing
Estimating the cost of
production
of
specific
products
6
Management of production Main literature Written,
reserves. The structure of the #1 and #2
oral
costs of stockpiling: the cost
check
of raw materials. The costs of
ordering, the costs of storage,
the cost o
f capital.
6 -7
100
7
The economic importance of Main literature Written,
labor costs of personnel. #1 and #2
oral
Forms and payroll system.
check
Payroll (payroll) and its
composition: the wage bill of
staff, payroll outside the state,
compensation, financial aid,
bonuses and other payments.
Taxes and deductions from
the wages fund: social tax
payments to the pension
savings fund.
7-8
100
8
Ways to reduce the cost of the Main literature Written,
office (electricity, utilities, #1 and #2
oral
security). Organizational and
check
travel expenses. The cost of
training,
social
support,
sponsorship and philanthropy.
Payroll
administrative
personnel.
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8-9
100
р. 9 out of 13
Theme
№
1
Assignments for IWST
Literature
Form of
control
2
3
4
Deadline
(week)
Max.
score
5
6
11
Essence of Value analysis, the Main literature Written,
purpose of carrying out the #1 and #2
oral
stages of implementation and
check
arrangements for.
System "just in time" (Justin-time, JIT) and KANBAN;
global quality management
(Total Quality Management,
TQM);
continuous
improvement
(Kaizen);
reengineering
business
processes (Business Process
Reengineering, BPR).
Essence of Value anliza, the
purpose of carrying out the
stages of implementation and
arrangements for.
Carrying out activity-based
costing in the enterprise.
11-12
100
12
Controlling as a method of Main literature Written,
improving business practices. #1 and #2
oral
Controlling the use of
check
effective
enterprise
management.
Controlling
and
Cost
Management: application in
the real sector. Milestones on
the
formulation
of
a
controlling system. Design of
the
organizational
and
functional structure.
12-13
100
13
Approaches to reduce costs. Main literature Written,
The approach, based on #1 and #2
oral
carrier costs, trend analysis,
check
comparative analysis, time
factors. Policies to reduce
costs as a factor in earnings
growth and competitiveness
of the firm. Conditions for use
of low-cost policy.
13-14
100
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Theme
№
1
Assignments for IWST
Literature
Form of
control
2
3
4
5
6
Written,
oral
check,
Quiz #4
14-15
100
15
100
14
The internal control structure Main literature
and
function.
The #1 and #2
effectiveness of accounting
and control systems. Factors
affecting the internal control
system.
15
Objectives of transfer pricing. Main literature Written,
Methods of transfer pricing
#1 and #2
oral
Transfer
prices
are
check
determined by the method of
"cost +"
Deadline
(week)
Max.
score
* Note: Control and grading of IWS assignments is done during IWST classes in accordance with
the approved schedule.
List of main and additional literature
Main literature
1. Hansen Mowen, Cost Management: Accounting and Control, 6th Edition, electronic textbook
2. Copeland, T.,Valuation Measuring And Managing The Value Of Companies, 2000,Tom
Copeland, New York: Copyright*
3. Benninga, Simon Z., Corporate Finance a valuation approach/ Simon Z. Benninga, Oded H.
Sarig,1997, New York: McGraw-Hill*
4. Koteneva E.N. , Cost management of the enterprise: a manual, 2012, Moscow: Dashkov K. (A successful business strategy)
Additional literature
5. Reilly, F. The Handbook of Business Valuation and Intellectual Property Analysis , 2004, USA:
McGraw – Hill*
6. B. Mackenzie, D. Coetsee, T. Njikizana, R. Chamboco , Interpretation and Application
of IFRS , 2012 , Canada: WILEY.*
Periodical Literature:
1. "Economics and Statistics"
2. "Bulletin of the accountant" and its application
3. "Problems of theory and practice of management"
4. "Panorama"
5. "Business Week"
6. http://economics.wideworld.ru/ resource dedicated to the economy and is designed specifically
to help students
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Assessment Scheme
The level of academic achievement of the student in the discipline Company value
management is determined by the final rating grade resulting from the exam admission rating
(average total score of current and midterm controls) and grade for final control.
Method of calculating the final grade.
The level of academic achievements of students in each discipline is determined by the final
grade formed from the admission exam rating (average grade of the sum of scores on the current
and midterm control) and grade of the final control (examination).
Admission exam rating (as a total score of midterm 1 and midterm 2) is at least 60 points.
Rating admission (RA) to exam is determined as follows: grades (rating 1 + rating 2): 2
(average arithmetic mean).
Rating 1 (also rating 2) is determined from the sum of all grades of the control divided by the
number of ratings A + rating of midterm control divided by 2 (average arithmetic mean).
Below is an example of grading for a conditional discipline.
During the first 7 weeks of the semester there are 7 assignments in the discipline for which
the student got the following grades on the maximum possible 100 for each assignment: 70, 86,
65, 59, 91, 76, 56. The average grade on the current control (CC) is determined by average
arithmetic mean: (70 + 86 + 65 + 59 + 91 + 76 + 56): 7 (amount of grades) = 72 (71.85). (CC1)
On midterm control 1, the student received 65 (MC1) of 100 maximum.
Rating determined by R1 = 1 (CC1 + MC1): 2, i.e., (72 + 65) 2 = 69 (68.5).
In the subsequent 8 weeks of the same term in the discipline there are 8 assignments for which
the same student got 52, 35, 96, 63, 87.
The average grade on the current control is: (52+67 + 35 + 96 +68+ 63 + 87+65): 5 (amount
of grades) = 66.6 (CC2). On the midterm control 2 the student got 83 (MC2) of 100 maximum.
Rating 2 will be R2 = (CC2 + MC2) 2, i.e., (66.6 + 83) 2 = 74.8.
Rating admission will be: RA = (69 + 74.8) 2 = 72 points
For example, a student / graduate student in the exam (final control - FC) got - 65 points. In
this case, the final grade (FG) will be: 72 (RA) * 0.6 + 65 (FC) * 0.4 = 69, which corresponds to
a letter grade C, traditional grade of "satisfactory", digital equivalent of 2.1 (used to calculate the
GPA). If a student in the exam got below 50 points, the final grade is not displayed and the student
has an academic debt in the discipline.
Missing lectures for invalid reasons reduces assessment on handed assignments at 20 points,
the missing practical and laboratory classes leads to a downgrade on handed assignments at 20
points.
In case of valid reasons assignments on the missed classes the retake of the studied material
can be provided.
Evaluation the level of achievements is done in accordance with the letter system accepted in
credit technology of education from А to F, corresponding to percentage content from 0 to 100%.
Grade in
points
(P)
Digital
equivalent
(D)
Grade in letters’ system
(L)
95-100
4
А
90-94
3,76
А-
85-89
3,33
В+
80-84
3,0
В
75-79
2,67
В-
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Grade (according to traditional
system (Т)
Excellent
Good
р. 12 out of 13
Grade in
points
(P)
Digital
equivalent
(D)
Grade in letters’ system
(L)
70-74
2,33
С+
65-69
2,0
С
60-64
1,67
С-
55-59
1,33
D+
50-54
1,0
D
0-49
0
F
Grade (according to traditional
system (Т)
Satisfactory
Unsatisfactory
Course Policy
Course policy includes a student code of conduct in the classroom and the requirements for
the implementation of academic process. These rules and requirements should be stated in the
syllabus. Implementation of the accepted rules promotes high efficiency of the academic process
and is obligatory for students. Each teacher will have the choice of rules and requirements, but
they must not contradict the policy of academic conduct and ethics of ALMU students.
Recommended list of rules and requirements generally includes the following requirements:
Mastering the discipline Company value management provides for mandatory attendance at
lectures, practical and laboratory classes and independent work.
Independent work includes theoretical study of questions related to those lectures that were
not included in the theoretical course or were considered briefly, in-depth study on the
recommended literature.
Independent work of the student under the guidance of teacher includes a more in-depth
study and consolidation of those lectures. For IWST the student gets prepared on themes and
answers questions.
In the case of absence for a good reason (duly certified) the student can be given additional
time to pass missed material.
The first and second midterm rating is carried as a review and evaluated on a 100-point scale.
(Please indicate the form of control)
The examination will be held in test format.
Terms of mastering the course:
- Compulsory attendance;
- Activity during practice (seminar) sessions;
- Preparation for the course, homework and IWS etc;
- Meeting the deadlines;
- To be tolerant, open and friendly;
- Constructively provide feedback in all classes;
- Be punctual and diligent;
It is unacceptable:
- to miss classes without a valid reason;
- to be late or leaving classes (a student is not allowed to attend classes if he is late. For
breaching the discipline a student leaves the audience and gets 0 points);
- to use cell phones during classes;
- to be late with homework;
- to cheat in exams. For cheating a student is removed from the audience and gets 0 points;
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If, for any valid reason you are absent during control work you have a chance to take it at
the time appointed by the teacher (MT and FT shall be authorized by the Dean), otherwise you
get a "0" points.
Policy for academic conduct and ethics is based on the Code of corporate culture, the Code
of Ethics of the student, the Rules of Procedure of ALMU.
Ф-ПР-02.3.2-05-2014-03 Syllabus