Course overview
This course aims to give an understanding of how management accountants provide information to facilitate decision-making in an organisation. On completion of this course, students should be able to determine product costs, formulate budgets and standards for planning and control, understand the role of responsibility accounting and performance measurement, and explain contemporary thinking in management accounting.
Course learning outcomes
- Describe the three fundamental purposes of cost and management accounting. As part of this learning, students will be able to appreciate the use of different costs for different purposes.
- Explain traditional and contemporary approaches to cost allocation.
- Describe different product costing scenarios in job-order and process environments.
- Identify relevant information for decision making purposes in order to produce financial analyses for a range of decisions such as product-mix, pricing, outsourcing and special orders.
- Use standard costs to prepare budgets for planning and control purposes.