Course overview
This course aims to give an understanding of how management accountants provide information to facilitate decision-making in an organisation and the critical role management accounting information plays in organisational planning and control. 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
- Explain the roles of management accounting in planning, control and decision-making
- Explain the principles of and differences between the various costing systems used by organisations for control, planning and decision-making and be able to calculate product costs using conventional and contemporary approaches to costing
- Identify relevant information for decision making purposes in order to produce financial analyses for a range of decisions such as product-mix, pricing, working capital management, outsourcing and special orders
- Develop budgets for control and long-term financial planning