ACCA is one of the fastest growing association, of Chartered Accountants of UK. In this course, we are providing one of the subject, (Financial Accounting) of its first level called as Knowledge Level. Management accounting helps managers within a company make decisions. Also known as cost accounting, management accounting is the process of identifying, analyzing, interpreting and communicating information to managers to help achieve business goals. You’ll develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts. Overall aim is to develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts. The syllabus for Management Accounting (MA)/(FMA), introduces candidates to elements of management accounting which are used to make and support decisions. The syllabus starts by introducing the nature, the source and purpose of management information followed by the statistical techniques used to analyse data. Then the syllabus addresses cost accounting and the costing techniques used in business which are essential for any management accountant. The syllabus then looks at the preparation and use of budgeting and standard costing and variance analysis as essential tools for planning and controlling business activities. The syllabus concludes with an introduction to measuring and monitoring the performance of an organisation.
On successful completion of this exam, candidates should be able to:
A Explain the nature, source and purpose of management information
B Explain and analyse data analysis and statistical techniques
C Explain and apply cost accounting techniques
D Prepare budgets for planning and control
E Compare actual costs with standard costs and analyse any variances
F Explain and apply performance measurements and monitor business performance.
You will study chapter 10 – Services and Operation Costing and Chapter 11 – Alternative Costing Principles