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Course Description
The unit ‘Assessing and Evaluating Performance’ builds on three predecessor modules: the first ‘Award in Elements of Costings’, the second ‘Award in Management Accounting – Intermediate’ and the third ‘Award in Advanced Management Accounting’. Learners would be able to progress smoothly if these units are followed in this sequence. Initially, the idea behind this unit is to introduce learners to an alternative method of absorption: activity-based costing (ABC). Then, learners would acquire the skills to use X BCACC-406-2114 MCAST Controlled and Approved Document Unsed copying or communication is strictly prohibited standard costing and find appropriate variances so that corrective action will be taken by management in a timely manner. Furthermore, the unit will enable learners to use financial and non-financial performance indicators to measure and compare an organisation’s current performance with previous periods, and with that of its competitors. On a final note, learners would also be exposed to some tools and techniques which management accountants use to enhance value and reduce costs.
Learning Outcomes
LO1 Use activity-based costing (ABC) as an alternative method of absorption costing to find more accurate product costs.
LO2 Use standard costing and variance analysis to aid in the planning and control of an organisation.
LO3 Evaluate key financial and non-financial performance indicators.
LO4 Use the principles of the balanced scorecard approach to assess the financial and non financial aspects of business performance.
LO5 Use lifecycle costing and target costing to aid decision making.
Entry Requirements
MCAST Award in Advanced Management Accounting
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