Management Accounting 1(Acct)
The purpose of this module is to introduce students to the fundamental of management accounting. Management accounting information is used to both make and support decisions. Key topics introduced, include materials, labour and overheads. Students will also be introduced to decision-making principles, including break-even analysis. Budgetary control will be covered on both a theoretical and applied basis.
Explain the role of management accounting within organisation's
Classify costs according to their function, nature and behaviour
Apply the principles of Cost-volume-Profit analysis and interpret the results.
Evaluate and apply the principles and accounting treatments for labour, material and overheads.
Evaluate and apply the principles of marginal and absorption costing
Apply the principles of relevant costing to decision making scenarios
Explain the administration process that supports budgetary control and prepare budgets for planning, control and decision laking
Outline ethical issues in management accountants