Help organisations reach their goals
Controlling ensures the integrity of processes, procedures and information systems, and provides timely, meaningful and understandable financial information and analysis. Controllers assist everyone in working together in their respective roles efficiently to provide accurate and fresh financial data and analysis in a form everyone can understand.
A good controller anticipates the information needs of management and provides timely financial data, analysis and recommendations. And lets management know about all the important financial aspects surrounding the business.
The Control track emphasises the role that information plays in the management of organisations, focusing on both departments and people. Control is therefore about managing organisations: how to make sure the organisation reaches its goals.
Why choose the Control track?
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Apart from the 6 general courses of the full programme, you will follow 3 track-specific courses.
Strategic Value Management (5EC)
This course focuses on the role of controllers in managing costs, revenues and value. Topics that will be covered include short and long term cost management, customer profitability and innovation.
Corporate Financial Management (5EC)
This course offers you a blend of lectures, case discussions and hands-on exercise sessions to enhance your understanding of corporate finance and corporate valuation.
Business Lab: Control (3EC)
Apply your knowledge to solve complex business issues in the area of control. Together with your fellow students, you will work on cases that a company struggles with. For example, cost reduction, investments decisions and using big data in decision making.
In modern economies, most people work in service organisations. But how do you measure the productivity and efficiency of for example a manager or consultant? Or the contributions of a researcher in developing a new medicine? And if it's difficult to measure their output, how do you manage these professionals?
Examples of relevant issues that could be discussed in your classroom.
- Costing - Companies can use several costing methods, each with its own (dis)advantages. Well-known costing methods which are used in companies include direct costing, full costing and activity-based costing. In the academic literature, there is a discussion as to whether firms should include all costs (including environmental and social costs, such as use of water and clean air) in the costs allocated to products or services. This practice is referred to as full cost accounting, true costing, or true pricing. In practice, firms provide insights in the true price of products. Proponents claim that the inclusion of environmental and social costs provides firms with the 'right' information to make long-term decisions. Opponents suggest that the firm’s objective should be to make a profit and deliver dividends to shareholders; it should not be concerned with societal demands, other than legal boundaries.
- Planning, budgeting and forecasting - Planning, budgeting and forecasting are an essential part of management. Most companies use planning and budgeting systems in order to set annual targets for managers in the firm. However, budgeting has been criticised by several authors in the academic literature: it fixes targets, and takes a lot of time and money. Firms have started to experiment with 'beyond budgeting': a practice that works with more flexible budgets. Alternatively, firms use monthly forecasts to provide short-term planning schedules internally.
I liked that I could choose specialised modules which would equip me with the skills and knowledge demanded by the workforce in the future.Chandralekha Thanabalan Read Chandralekha's full review
Graduates of the Master's programme in Accountancy and Control/Control track have excellent job prospects for positions as:
- Management Accountant
- Finance Manager
- Business Controller
- Data Analyst