Overview

In this management accounting course, you will learn principles and methods for using financial data to make strategic business decisions. The course emphasizes practical application through case studies and projects where you will analyse authentic scenarios and recommend data-driven actions to improve operations and profitability. You will become proficient in using accounting information systems to guide business strategy and optimize organizational decision-making. This course will equip you with essential management accounting knowledge to advance your career in corporate finance, operations management, financial analysis, and managerial accounting.

During this course, students will focus on the following:

1. The nature and purpose of management accounting in identifying direct and indirect costing material. This involved the calculation of primary costs, the overheads and assess its usefulness to make better decisions.

2. Budgeting – explain the purpose, prepare a budget with variance analysis, evaluate and contrast budget results. Identify key problem areas, and make appropriate recommendations.

3. Stock valuation & management – value stock using first in first out (FIFO), continuous weighted average (CWA) methods, apply and explain the relevant of accounting concepts.

4. Contribution analysis - apply this technique in classifying costs to support managerial decision making and provide solutions to the business.

5. Capital investment - identify capital investment appraisal technique and appropriate sources of financing.

6. Emerging issues - evaluate the use of ICT and the changes in the business environment that affected the development in management accounting practice.

Assessment Strategy

Threshold (40-49% / D- to D+): Student has made sufficient progress in the study of this module to achieve the lowest level of pass allowing for progression onto an undergraduate degree.

Satisfactory (50 – 59% / C- to C+): Student demonstrates reasonably comprehensive coverage of learning outcomes, indicating generally accurate understanding, based on lecture material and some core readings. Some gaps in knowledge and/or understanding evident.

Good (60-69% / B- to B+): Student has displayed a sound basic knowledge and understanding of much of the material studied in this module and achieved a high enough grade to indicate a clear ability to cope with the demands of an undergraduate level degree.

Excellent (70% + / A- to A*): Student has engaged consistently well with all aspects of the module and strong achievement in assessments indicates the ability to perform effectively at undergraduate degree level.

Learning Outcomes

• Calculate various types of costing, budgeting and other relevant costs for decision making

• Produce an account using management accounting techniques and make an informed decision based on the results

• Understand the relevance of management accounting information in business decisions and emerging contemporary issues