Description

Course Description – Basic Management Accounting

This course expands students’ foundational accounting knowledge by introducing the principles and techniques of management accounting used to support managerial planning, control, and decision-making. It focuses on the preparation, analysis, and interpretation of accounting information for internal users, enabling students to evaluate the financial implications of business decisions and improve organisational performance.

The course covers key topics including the role of management accounting, cost classifications for different decision-making purposes, cost behaviour, accounting information for planning and control, and the application of relevant financial information to operational and strategic business decisions. Through lectures, case studies, discussions, and practical exercises, students develop the ability to identify relevant accounting information, analyse alternatives, and support effective managerial decision-making.

Upon successful completion of the course, students will be able to prepare and interpret management accounting information, apply appropriate costing and decision-support techniques, assess the financial consequences of business decisions, and use accounting information to improve planning, performance evaluation, and organisational decision-making.

Learning Outcomes

Development of knowledge and understanding: Students: - are familiarized with the role and importance of cost and managerial accounting in an organization - acquire knowledge of different cost classifications for different purposes - acquire fundamental knowledge of basic principles and methods of preparing relevant accounting information for decision making purposes - learn how to recognize economic consequences of business decisions - develop the skills to prepare and use relevant accounting information for certain types of business decisions