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Introduction to management control systems

Technical planning and control in corporate governance. The components of a system of management control; requirements and features to support decision-making , motivation, and organizational learning.

The cost management

Introduction to the concept of Cost Object. Difference between the techniques full costs and variable costs and need to allocate indirect costs. Advanced techniques of costing and allocation of indirect costs;
allocation of costs from service centers to production centers; Activity- Based Costing.

The budgeting and variance analysis

Strategic planning and the budget. From vision to the formulation of the budget. Business management by objectives. The budget components: operating budget , investment budget , financial budget ,
master budget The negotiation of the budget. The variance analysis .

Basic Principles of corporate finance and investment analysis

Financial mathematics. The comparison of cash flows over time.
The composition of returns and the equivalence between rates. The concept of the opportunity cost of capital. Preparation of a financial plan. The concept of cash flow discounting and the technique of the Net Present Value. Other
techniques for the valuation of investments. Methods of financing.

The use of derivatives

The derivative instruments to reduce business risk: definition and role. General types of derivative instruments: forwards, futures, swaps and
options. The pricing of derivatives: the forward price and value of the forward contract.
Model of Black and Scholes. European and American options.
Put-Call Parity. Use of derivative securities to the case of currency risk, interest rate and changes in costs of raw materials.