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Introduction to Management Accounting
R6,900.00
Introduction to Management Accounting provides foundational insights into managerial accounting, emphasising the roles and responsibilities of financial managers and cost accountants. This textbook equips students with practical knowledge on cost analysis, inventory control, and various costing methods such as job, process, and contract costing. It further delves into budgeting, standard costing, and performance analysis, preparing students to effectively manage financial resources and make strategic decisions within a business context.
As an institution that is responsive to changing student requirements in certain sectors of the market, we have introduced an online option offering shorter courses. These courses provide quick wins for busy professionals and can fast-track careers in a matter of weeks or months. Professionals can stay at the cutting edge of industry-relevant skills development, as they compete in the dynamic 4IR (fourth industrial revolution) job market. Like our distance courses, our online courses allow you to register at any time. Studying is flexible and can be scheduled according to your needs.
COURSE DURATION:
12 Months
COURSE START DATES:
You can start studying this course at any time of the year as soon as you have completed your registration, you can get started. There are no specific registration dates!
COURSE INFORMATION:
This course contains a CourseBookTM, which is an innovative fusion of the traditional textbook and online course, combining quality educational content with an interactive, social learning experience to promote success. The course has been broken into three Study Phases (please see below). At the end of each study phase, there is a quiz that you are required to complete.
- Study Phase 1 Quiz:
- Introduction to cost and management accounting
- Material and inventory control
- Study Phase 2 Quiz:
- Labour and learning curve theory
- Overhead allocation
- Accounting for a manufacturing enterprise
- Study Phase 3 Quiz:
- Job costing
- Process costing
- Contract costing
- Marginal and absorption costing
- Budgeting and standard costing
ASSESSMENT:
Work through the workbook. At the end of each Study Phase, there is a quiz to complete. You need to complete and pass each of the quizzes with a minimum of 70% to get a certificate. No restrictions on your attempts.
COURSE EXIT OUTCOMES:
After completing this course, you should be able to:
- Understand the principles, importance, and ethical conduct in management accounting.
- Identify and classify various costs, including production, non-production, fixed, variable, mixed, semi-fixed, and semi-variable costs.
- Describe inventory control techniques (EOQ, JIT) and valuation methods (FIFO, weighted average), and discuss the real costs of inventory.
- Explain cost behavior and apply methods to separate mixed costs using the high-low method and least squares regression.
- Discuss labor cost control techniques and apply learning curve theory.
- Allocate and apportion overhead costs using direct, step, and linear algebraic methods, and calculate predetermined overhead rates.
- Contrast traditional costing systems with activity-based costing (ABC) and calculate product overhead costs using ABC.
- Prepare accounting records and financial statements for a manufacturing enterprise, including production cost statements.
- Calculate unit costs, identify overhead application rates, prepare job cost sheets, and account for spoilage in a job costing system.
- Analyze marginal and absorption costing, perform CVP analysis, and calculate break-even points and margins of safety.
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