MAC2601 | Principles of Management Accounting

MAC2601 is often referred to as Cost Accounting.

The job of the management accountant is to make business decisions, plan operations and control costs so that the company is run profitably. In our lectures, we explain the ‘what’ and the ‘why’ before showing you how it is done.

The better you understand the theory (principles), the easier you’ll be able to apply it to a wide range of scenarios. If you focus on really understanding the theory, you will have much less to memorise, and you might even start enjoying management accounting as much as we do.

The exam course videos will go through past questions and show you the process to follow to answer the questions, and the exam technique you need.

Your lecturer will be available on the discussion forum to help you with your queries, motivate you, and keep an eye on you when you fall behind!

CONCEPTS

• Introduction to Management Accounting
• Cost Concepts and Classification
• Cost Accounting Systems
• Cost Estimation
• Cost-Volume-Profit Analysis
• Accounting for Material, Labour and Overheads
• Cost Flow Assumptions and Cost Formulae
• Methods for the Treatment of Fixed Production Overheads
• Determination of Overheads Recovery Rates
• Methods for Accumulating Production Costs
• Joint and By-products
• Corporate Strategy and Ethical Leadership
• Budgeting and Budgetary Control
• Standard Costing
• Relevant Costing for Short-term Decision-making
• Sensitivity Analysis

PLEASE NOTE: THIS COURSE IS DESIGNED TO SUPPORT THE 1ST SEMESTER IN 2024 ONLY. PURCHASE WILL GIVE YOU ACCESS TO THIS COURSE UNTIL THE MAY/JUN EXAMINATIONS HAVE BEEN WRITTEN.