MAC3761 | Application of Management Accounting Techniques
We cover the full syllabus for MAC3761 (the year-long module combining MAC3701 and MAC3702) with video lectures, explaining everything you need to know to about MAC3761. We explain the principles in easy-to-understand language, so you’ll be able to apply them to any situation.
Our classroom is set up in the same order as your study guide, making it easy to work through the whole syllabus. Our exam course videos walk you through two past exam papers, showing you how to read, plan and answer your questions. Your lecturer will be available to answer your queries, motivate you, and check up on you throughout your semester.
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The main aim of the management accountant and/or financial manager is to run the company profitably, maximise shareholder value, and manage risks while taking into account the interests of other stakeholders. The management accountant needs to make business decisions, plan operations, and control how resources are used. The financial manager also needs to make investment and financing decisions, as well as deciding on the dividend policy of the company.
Apart from a few new topics, the principles covered in MAC3761 are similar to what you’ve already done in second year Management Accounting (MAC2601) and Financial Management (MAC2602), just at a more advanced level.
Before each topic is briefly recapped, you get the opportunity to test your own understanding. If you are not comfortable with the basics, you can watch the revision lectures, or you can skip ahead to the new work. Since students usually struggle with ManAcc due to not understanding the basics, we start the third year work by explaining the ‘what’ and the ‘why’ of each topic.
Our lectures focus on really understanding what problems the principles try to address and why they are important, before showing you how to apply them with illustrative examples. Even though many students find Management Accounting and Financial Management intimidating, we believe anyone can pass them, and who knows, maybe even enjoy them!
Our exam course videos will go through past questions and show you the process you need to follow to answer the questions, and teach you the exam technique you need.
Your lecturer will be available on the discussion forum to help and motivate you. Many ManAcc students don’t speak up and are not really comfortable asking questions - we want you to trust us to help you, so we can deepen your understanding and help you pass.
CONCEPTS (INCLUDES REVISION OF KEY CONCEPTS FROM MANACC 2)
- Introduction to management accounting
- Planning and controlling inventory
- Further issues in overhead allocations
- Cost estimation and cost behaviour
- Process costing
- Joint and by-product costing
- The operating budget
- Before you start: introduction to financial management
- Advanced analysis of information
- Risk and return
- Sources and forms of long-term finance
- Weighted average cost of capital (WACC)
- Advanced capital budgeting
- Mergers & acquisitions: business and legal aspects
- Valuation of equity
- Treasury function: cash management
- Treasury function: managing currency and interest rate risks