Entry requirements and weighting

Credit Points:15 credit points
Level:Year 1, Core

Brief description

MA512 Management accounting has different objectives from financial accounting.

This branch of accounting is concerned with the future, operates under varying time frames and no set of rules. However, these two branches are not totally independent of each other.

Global competitions, technological advances, advances in information technology and changes in the economic environment have changes the nature of management accounting system and the role of management accountant in business organisation. Management accountant has become a team member contributing to strategic decision making of business using contemporary management accounting systems and practices.

The overall objective of this unit is to give students an understanding of the role of the management accountants in planning, decision making and controlling. This unit considers the fundamental concepts and tools used by accountants to provide information for planning and control. This unit aims to develop students’ expertise in accumulating as well as assigning cost accounting information and recognising appropriate techniques in product costing. There is an emphasis to make the student capable of applying the management accounting information in planning, decision making and controlling.

This unit will cover the following topics:

  1. An Introduction to management Accounting
  2. Cost –Volume-Profit Analysis
  3. Incremental Analysis and Pricing
  4. Variable Costing: A decision making perspective
  5. Budgetary Control and Responsibility Accounting
  6. Planning for capital investment
  7. Job Order Cost Accounting
  8. Process Cost Accounting
  9. Activity Based Costing
  10. Standard Costs and the Balanced Scorecard

Learning outcomes

Students will gain the following capabilities, competencies, and professional skills upon completion of this unit

  1. Understand the function and role of the management accountant in the contemporary business environment;
  2. Apply management accounting practices and theories to solve management problems;
  3. Identify and justify appropriate management accounting systems that assist in making management business decisions;
  4. Be able to develop flexible approaches to problem solving;
  5. Be able to apply different calculations to different circumstances to achieve the desired outcome;
  6. Be able to assist management decisions by providing accurate and applicable financial information to aid decision making.
  7. Present solutions on management issues in writing;
  8. Apply different management accounting theories to the resolution of management decisions for business and accounting