Management Accounting

Managerial accounting involves the presentation of financial information for internal purposes to be used by management in making key business decisions. Managerial accounting encompasses many facets of accounting, including product costing, budgeting, forecasting, and various financial analysis.

Learning Objectives After successfully finalizing this course, students should be able to:

•  Define managerial accounting;
• Have a clear view on business ethics, especially ethics related to accounting;
•  Define cost drivers and calculate cost behavior;
• Use cost-volume-profit analysis in decision-taking;
• Set-up and use Activity-Based Costing;
• Decide when information is relevant;
• Use relevant information for decision making, both for pricing and operational decisions;
• Describe the benefits of budgets;
• Set-up and use a master budget;
• Set-up and use flexible budgets;
• Execute variance analysis;
• Understand, define, and implement management control systems and responsibility accounting;
• Discuss and comment on management control systems in a decentralized organization;
• Analyse projects using discounted cash flow approach;
• Set-up and use a scheme of cost allocation;
• Set-up and use accounting for overhead costs;
• Implement job-costing and process-costing systems.