Introduction to Management Accounting

TARGET GROUP: Students who have completed the Introduction to Financial Accounting and Accounts Clerks.

BACKGROUND: This course will expose participants to the introductory aspect of internal reports and analyses, management planning, management decision making and product costing.

COURSE CONTENT:
MODULE 1 - Accounting for Manufacturing Businesses

  1. Stock
  2. Direct Costs
  3. Indirect Costs
  4. Prime Costs
  5. Production Costs
  6. Work in Progress                                                                                     

MODULE 2 - Inventory Planning, Control and Valuation

  1. Acquisition Costs
  2. Ordering Costs
  3. Carrying Costs
  4. Purchasing Control
  5. Safeguarding the company’s inventory
  6. FIFO (first in first out)
  7. LIFO (last in, first out)                                                       

MODULE 3 - Product Costing Method Standard Variable &Standard absorption

  1. Variable Costing
  2. Absorption Costing
  3. Variable Factory Overhead
  4. Fixed Factory Overhead

MODULE 4 - Ratio Analysis and Interpretation of Financial Statements  

  1. Liquidity Ratios
  2. Activity Ratios
  3. Profitability Ratios
  4. Coverage Ratios                                                                                 

MODULE 5 - Budgets and Budgeting

  1. Variance Analysis
  2. Master Budgets
  3. Internal & External Forecast
  4. Capital Budgets

MODULE 6 - Break even and Cost-Volume-Profit Analysis

  1. Fixed Costs
  2. Variable Costs
  3. Break Even Point
  4. Introducing an income tax element

ASSESSMENT: Home assignment, Class quizzes and Final Exam