Management accounting for enhanced decision-making and control
Michael Burkert works as a professor for managerial accounting and control at the University of Fribourg (Switzerland). He is interested in the design and use of cost accounting and control systems. Currently his research covers such aspects as how to incentivize employees to act ambidextrous and how to better allocate indirect costs to cost objects. He is an experienced teacher regularly teaching at different European Universities and professional programs. Prior to his academic career Michael Burkert worked two years for the international consulting company Simon Kucher & Partners.
On the first day of this module, we explain the relevance of managerial accounting information for effective decision-making, planning and cost control. This introduction reflects on the effect of digitalization on the financial management of organizations in the future. The second day starts by addressing the question how to design management control systems successfully to implement strategy. Students will be able to apply a sophisticated performance measurement framework to analyse the effectiveness of controls. They will be able to translate financial and non-financial information into a mindful set of managerial actions that assure strategy alignment, improve performance, and give meaningful guidance to organizational actors.
The rest of the module is dedicated to teach students how to use Monte-Carlo simulations to make cost-based decisions in uncertain environments. Learning hands-on how to set up such advanced decision models enables participants to analyse complex data enabling them to making better decisions, and to better understanding and handling risks and uncertainties.
Students are enabled to critically evaluate the validity of cost information and to dig behind the numbers.