Management Accounting

Topics: Discounted cash flow, Finance / Pages: 7 (1605 words) / Published: Dec 23rd, 2012
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I/A Accounting

Management Accounting

1. Management accounting – Its nature, purposes, place in general accounting theory, role in general and strategic decision making process of management, comparisons with other areas of accounting

2. Definitions of cost, cost classification, cost behaviour

3. Costing issues – Cost accumulation; cost allocation, apportionment, absorption; overheads, overhead absorption rates, under and over-recovery of overheads, normal and actual costing

4. Absorption and marginal costing – Definitions, method of application, comparison

5. Activity based costing – Emergence, process, comparison with traditional costing methods, arguments for and against

6. Pricing – Factors affecting pricing decisions, demand and cost based approach to pricing, pricing methods (target costing in particular), update of pricing systems, pricing policies

7. Budgeting I – The planning process, nature and purpose of budgets, the budgeting process, types of budgets, steps in the preparation of master budgets

8. Budgeting II – The behavioural aspects of budgeting (motivation and participation in particular)

9. Standard costing I – Standard setting, types of standards, comparison with budgeting; reasons for the occurrence, interdependence and the criteria for the investigation of variances

10. Standard costing II – Fixed, flexible and flexed budgets, types and calculation of variances, operating statement

11. CVP – Economists’ and accountant’s model of cost behaviour, cost-volume-profit analysis (break-even point, margin of safety, C/S ratio, profit-volume ratio), assumptions and limitations of CVP analysis

12. Decision making – Relevant and irrelevant costs, make or buy decisions, segmental profitability, selling price decisions, limiting factors

Controlling and Internal Auditing

1. Customer satisfaction and its supporters in controlling – key success factors; continuous improvement; total value chain analysis;

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