Management Accounting 1

This module is designed to introduce students to the basic principles of management accounting in relation to product costing, marginal costing, Cost volume profit analysis and budgets. Once an understanding of these basic principles has been achieved, they will be applied in a variety of scenarios.

1. Explain the role of management accounting within an organization and the requirements for management information.

2. Classify costs according to their function, nature and behaviour.

3. Calculate product cost using traditional absorption costing

4. Apply the principles of cost-volume-profit analysis and interpret the results.

5. Prepare and present functional budgets and a master budget for planning and control purposes.