Management accounting is a specialized branch of accounting that focuses on providing financial information and analyses to decision-makers within organizations. This course typically covers the following key areas:
-
Fundamentals of Management Accounting: Introduction to the role of management accounting in organizational decision-making. Topics include cost behavior, cost-volume-profit analysis, and relevant costing.
-
Cost Accounting: Detailed examination of how costs are classified, measured, and allocated within an organization. Includes job order costing, process costing, and activity-based costing.
-
Budgeting and Forecasting: Techniques for preparing budgets, including master budgets, flexible budgets, and variance analysis. Emphasis on forecasting techniques and their role in planning and control.
-
Performance Management: Evaluation of organizational performance through the use of performance measures and key performance indicators (KPIs). Discussion on balanced scorecards and performance reporting.
-
Strategic Cost Management: Examination of strategic decisions related to cost management, such as make-or-buy decisions, pricing strategies, and cost control measures.
-
Decision Making: Application of management accounting techniques to support decision-making processes. Includes capital budgeting, risk assessment, and cost-benefit analysis.
- Teacher: Odel Trainer
- Teacher: Admin User