Management accounting provides internal users of the organization with information for controlling and decision making purposes. Today managerial accountants serve as business consultants and often work together with cross-functional teams and managers. In the course the student will learn both to produce the required information and to understand how managers are able to use and react to it. The student will learn the fundamental traditional management accounting such as product costing, budgeting, cost-volume-profit analysis and variance analysis . Moreover, modern approaches to cost management and controlling such as ABC costing and the balanged scorecard will be introduced. The student is expected to play an active role in learning mainly through class discussions as well as oral and written presentations. Practical applications of management accounting will be playing a crucial role all through the course by solving real life problems through cases.