MANAGEMENT & COST ACCOUNTING

Description

The purpose of this course is to equip students with an explanation of management accounting as a basis for developing the tools and knowledge required to meet management information needs. Students will study the organisational content of management accounting; cost accumulation for inventory valuation and profit measurement; decision making; information for planning control and performance measurement, and ethics. Learning Outcomes: On successful completion of the module, students should be able to: Describe and evaluate the management accountant’s role, organizational environment, accounting information systems and possible ethical issues they face. Define and apply cost and revenue classification, terms and behavioural patterns for planning, control, decision making and evaluation. Apply and evaluate appropriate cost accounting techniques to identified circumstances. To describe and evaluate nature, source and purpose of management information, information systems and how they contribute to the decision-making process. Select, generate, explain and interpret decision making techniques to evaluate business choices. Select and generate appropriate investment appraisal techniques and justify course of action considering relevant non-financial factors and financial options. Describe and evaluate the role of budgets and budgetary control as a tool to enable organizations to develop and assess performance and use budgetary techniques to prepare budgets and financial plans. Teaching & Learning methods: 300 Assessment: 180 minutes