Award in Management Accounting – Intermediate

Course Description

Intermediate Management Accounting builds on its predecessor module ‘ Elements of Costings’. Management Accounting is an essential tool that enhances a manager’s ability to make effective economic decisions. The course objective is to give learners a good understanding about the concepts and techniques of management accounting. The idea behind this course is that learners would get a clearer understanding of the elements of costs i.e. material, labour and overheads and their treatment in absorption and marginal costing. This unit will help learners to use relevant information for decision making, both for pricing and operational decisions. Furthermore, this unit will introduce learners to use different costing methods and apply break-even analysis to real business scenarios.

Learning Outcomes  

LO1 Explain the nature, source and purpose of management accounting information.

LO2 Monitor inventory levels and use appropriate business documents depending on the nature of transactions.

LO3 Allocate, apportion and absorb overheads to cost units via the traditional absorption process.

LO4 Apply different costing methods to different business sectors.

LO5 Use marginal costing and absorption costing in appropriate business scenarios.

LO6 Apply cost-volume-profit (CVP) analysis to support short-term decision making.

Entry Requirements

MCAST Award in Elements of Costings