Managerial Accounting and Financial Control

  • Summer schools
  • Summer School and Executive Programmes
  • Application code SS-AC101
  • Starting 2022
  • Short course: Open
  • Location: Houghton Street, London

Today’s enterprises must navigate markets affected by global forces, advances in internet-based technologies and increasingly sophisticated corporate strategies used by their competitors. At the same time, the interface between business and financial management is becoming more complex and more significant in determining outstanding corporate performance. Management accounting and financial control information are critical in helping enterprises to perform and increase their competitiveness.

This course provides an introduction to the management accounting and financial control concepts that are used in strategic decision-making, in order to effectively perform in a competitive business environment. Covering issues such as technology and digitalisation, corporate strategy, marketing and modern cost management tools, you will be able to critically analyse how these tools can be used to increase performance.

Recognising the growing international nature of business, the course also considers international financial control issues and comparative cross-country differences in managerial control systems. Using practical and highly applied learning material, you will be exposed to real-world cases and practical techniques to make business decisions. By the end of the course you will have a firm understanding of innovative managerial accounting and financial control tools and how to apply them in various business settings.

Session: Two
Dates: 11 July - 29 July 2022
Lecturer:  Prof Alnoor Bhimani and Dr Alexandra Scherf


Programme details

Key facts

Level: 100 level. Read more information on levels in our FAQs

Fees:  Please see Fees and payments

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Two written examinations

Typical credit**: 3-4 credits (US) 7.5 ECTS points (EU)

*Assessment is optional but may be required for credit by your home institution. Your home institution will be able to advise how you can meet their credit requirements.

For more information on exams and credit, read Teaching and assessment


There are no prerequisites for this course

Key topics

  • Incremental costing

  • Break-even analysis

  • Activity-based management

  • Balanced scorecards

  • Target cost management

  • Quality costing and e-business costing concerns

  • Performance-based strategic management

  • International financial management

Programme structure and assessment

This course is designed as a combination of lectures, class discussions, case studies and readings. The course emphasises applied, rather than theoretical, issues. It discusses the fundamentals of accounting and financial controls as they are applied in practice. Case studies will be used and student participation is essential to the achievement of the course objectives.

This course is assessed through two examinations: one mid-session examination (40%) and a final examination (60%). You will also be assigned two in-class presentations as part of two assignments which relate to key course topics. This does not contribute to your final grade, but is designed to give you feedback to improve your performance in the examinations.

Further details will be provided at the beginning of the course.

Course outcomes

  • Understand how strategic, market and technological factors affect management accounting and financial control practices
  • Show how to apply cutting edge management accounting and financial control techniques within commercial enterprise environments
  • Analyse behavioural, organisational and cultural issues affecting management accounting and financial control
  • Apply modern techniques including activity-based management, balanced scorecards, target cost management and quality costing to real-world cases
  • Compare international management accounting systems

Is this course right for you?

This course is ideal if you are seeking a practical understanding of the accounting and financial control fundamentals which help managers to be effective in fast-changing business environments. If you are targeting a career in consulting or business management you should consider this course. It will also be useful if you are starting a MSc or MBA programme of study and wish to learn introductory concepts in the area.

Your department

LSE’s Department of Accounting enjoys a reputation as one of the leading groups in the world for teaching and research on the economic, institutional and organisational aspects of accounting and financial management.

The Department, along with the Departments of Finance and Management, was ranked as the UK leader for Business and Management Studies in the most recent Research Excellence Framework.

The Department offers an outstanding interdisciplinary research environment, retaining close ties with other departments and professional communities which ensures that our faculty work at the cutting edge of new developments in accounting practice. Students gain the knowledge, critical thinking and analytical skills to break down complex ideas and apply new concepts to real-world problems, preparing them with the necessary skills to thrive in various sectors, including corporate, government, non-profit and the public sector.

Your faculty

Dr Alexandra Scherf
Assistant Professor of Accounting, Department of Accounting

Professor Alnorr Bhimani
Professor of Management Accounting, Department of Accounting

Reading materials

A. Bhimani, C. Horngren, S. Datar and M. Rajan. Management and Cost Accounting (Pearson, 2019)

A. Bhimani, Financial Management for Technology Start-ups (Kogan Page, 2017)

A. Bhimani, Accounting Disrupted: How Digitalization is Changing Finance (Wiley, 2021)

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice


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