Essentıals of Cost and Management Accountıng

Complete Online Course
Essentıals of Cost and Management Accounting

This course explains the nature of management accounting and how it aids managers' decision-making. It looks at the impact that varying levels of costs and volume have on operating profit. The course also demonstrates how budgets are used to control and monitor the performance of an organisation.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to applying the acquired knowledge and skills immediately upon your return to work.

Management accounting is crucial for efficient business management, especially in the areas of: formulation of strategy; planning; measurement and control of performance; decision-making; ascertaining income and costs; and establishing prices. In this authoritative introduction to the subject, the authors explain and illustrate the ways in which management accounting works in all its phases, from the determination of figures through their presentation and interpretation to their application in business management.

Who will benefit from this course?

University students studying cost and management accounting.
Young professionals are developing their careers in the field of accounting.
Those who wish to understand the implications of decisions made across a range of management accounting issues.
Those who wish to develop the ability to analyse, interpret, and question the accounting information they may encounter in a business context.
Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
Non-accounting staff who desire a practical introduction to the fundamentals of management accounting.

What you will learn from this course?

Upon completion of this course, you will be able to understand:
The differences between management accounting and financial accounting.
The difference between fixed and variable costs.
How to calculate variable and fixed costs using the high-low method.
How to use break-even analysis as a decision-making tool.
How to calculate and understand the contribution, the break-even point, and the margin of safety.
The limitations of break-even analysis.
Why do overheads need to be included when costing products?
How to calculate a simple ‘blanket’ overhead rate.
How to apply absorption costing methods to fully cost out a range of products.
The limitations of traditional costing methods.
How to calculate an activity-based cost?
Why does a business need to prepare a budget?
The process of preparing a budget. How to prepare a simple budget.
The problems of budgeting.
The purpose of simple variance analysis.
How various methods of costing can impact pricing.
How to calculate prices using cost-plus, sales-margin, and discount methods.
How various pricing strategies can be used, including how target and life-cycle costing can affect product pricing.
How to calculate internal transfer prices in a variety of ways.

Lecture Videos

Comprehensive yet easy-to-understand lecture videos provide complete coverage of the exam syllabus.  

Practice Question Videos

Explanatory videos for practice questions help you understand the application of knowledge and concepts.

Online Quizzes

Chapter by chapter quizzes help you identify knowledge gaps and points out areas that need improvement.

Course Curriculum

Course Fee

Essentials of Cost and Management Accounting

$35 USD

  • A Complete Online Course

    • Detailed topic videos
    • Solved questions and exercices with solutions
    • Tutor slides
    • Study notes
    • Online quizzes
    • One year access to all course contents
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