Management Accounting 2

Description

This course extends the operational tools and techniques introduced in level 1 Accountancy courses. It develops more complex problem-solving techniques in the planning, control and decision-making process. It shows how quantitative methods and analytical techniques can be applied in management accounting solutions to management problems. It also emphasises the diverse industrial, commercial and not-for-profit settings in which management accountants work. It seeks to develop in students an understanding of the organisational context as well as the nature of management accounting information. The focus is to enhance students' problem-solving and communication skills, and develop their ability to select and apply appropriate techniques in specific contexts. Students should, by the end of the course, demonstrate a sound understanding of the following management accounting techniques and procedures, and should be able to apply them in relevant decision making: COST ACCUMULATION AND ESTIMATION (e.g. Traditional absorption costing, activity-based costing – ABC and process costing) DECISION MAKING (e.g. Cost volume profit analysis, measuring cost as well as pricing decisions and profitability analysis) Students should demonstrate an ability to select and apply them appropriately in specific contexts.