Study Guide

Objective

Having completed this study unit

- You know management accounting as part of company’s decision-making process.
- You know cost behaviour and basic cost concepts, cost drivers, cost objects and different costing options as well as management of working capital.
- You can apply different management accounting methods to assess profitability and provide information for decision making.
- You are able to describe and apply the importance of working capital management.
- You know the reason for budgeting and understand how the budgeting process works. You are able to create a simple budget.
- You know the role of management accounting.
- You know the activity-based costing (ABC) and ABC management Budgeting, functional budgets and master budgets, the principles of strategic cost management

Content

- Management accounting as part of company’s decision-making process and role of management accounting
- Cost behaviour and basic cost concepts,
- Cost drivers, cost objects
- Different costing options
- Management of working capital and applications
- Assessment of profitability and provide information for decision making
- Different types of budgets, budgeting and it’s process, creating a budget
- Activity-based costing (ABC) and ABC Management
- Principles of strategic cost management