Overview

To introduce the role of management accounting in decision-making and managing an organisation.

The course will cover the following:

• Introduction to management accounting. • Difference between cost, management, and financial accounting. • Purpose, classification, and behaviour of cost. • Marginal analysis. • Full costing, activity-based costing. • Budgeting, accounting for control. • Management accounting techniques to make and support short term decision making. • Budgets and standard costing for planning, feedback, and control.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Apply management accounting techniques to make and support decision making.

• Classify, estimate and allocate costs and overheads

• Discuss and illustrate how budgets are used for planning and control purposes in an organisation.

• Discuss the nature and purpose of management accounting.

• Explain and apply the standard costing system.

• Explain and use the relationships between cost, volume and profit.