Authorised by Academic Registrar, April 1996
Objectives On successful completion of this subject students should be able to list and describe objectives of managerial accounting activity; describe some of the major contemporary themes in managerial accounting and the changes to traditional management accounting which have been brought about by the modern business environment; discuss the role of product and service costing in manufacturing and non-manufcturing firms under traditional, volume-based product costing systems and activity-based cost systems; explain the importance of strategic planning and strategic budgeting for accomplishing organisational goals.
Synopsis This subject provides an understanding of the accounting techniques available to and used by managers faced with planning, directing, controlling and decision-making activities in their organisations. Accounting information can be used to identify and analyse alternatives and to guide the manager to a course of action that will yield the greatest benefit to the firm. This course reviews and expands upon prior knowledge of management accounting techniques, to familiarise students with modern approaches to measuring production costs, budgeting, performance reporting, efficient allocation of resources, profit maximisation and the pursuit of long range goals.
Assessment Examination: 100%