Objectives:

This course seeks to give an understanding of the ways in which management accountants can provide relevant information for a variety of decisions to be made in managing any organisation. On completion of this course, students should be able to identify, use and interpret the results of costing techniques appropriate to different activities and decisions; formulate and use standards and budgets for planning and control purposes; understand the role of responsibility accounting and performance measurement; understand the behavioural implications of performance measurement and transfer pricing systems in divisionalised businesses; appreciate the need to relate management accounting systems to contemporary thinking about organisational planning and control.

Learning Outcomes:

On successful completion of this course, students will be able to:

Describe the three fundamental purposes of cost and management accounting.  As part of this learning, students will be able to appreciate the use of different costs for different purposes. Explain traditional and contemporary approaches to cost allocation. Describe different product costing scenarios in job-order and process environments. Identify relevant information for decision making purposes in order to produce financial analyses for a range of decisions such as product-mix, pricing, outsourcing and special orders. Use standard costs to prepare budgets for planning and control purposes.