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ACC313Management Sciences3 Unitsintermediate

Management Accounting

This course equips students with fundamental cost and management accounting techniques. It covers costing principles, cost accounting systems, and cost behavior analysis. Students will learn about budgeting, standard costing, and decision-making under uncertainty. The course also explores performance measurement and relevant financial analysis tools, providing a comprehensive understanding of management accounting practices.

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208h

Study Time

13

Weeks

16h

Per Week

intermediate

Math Level

Course Keywords

CostingBudgetingVariance AnalysisDecision MakingPerformance Measurement

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

📊

Math Level

Moderate Math

🔬

Learning Type

Hands-on Practice

Course Topics

Key areas covered in this course

1

Costing Principles

2

Cost Accounting Systems

3

Cost Behavior Analysis

4

Budgeting and Budgetary Control

5

Standard Costing

6

Decision Making Techniques

7

Investment Appraisal

8

Performance Measurement

Total Topics8 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Management Accountant

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Cost Accountant

Apply your skills in this growing field

Budget Analyst

Apply your skills in this growing field

Financial Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

ManufacturingService IndustryHealthcareRetailFinancial Services

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: General Principles of Costing

8h

Unit 1: General Principles of Costing

8 study hours

•Define costing and cost accounting.
•Discuss the importance and basic principles of costing.
•Differentiate between costing and cost accounting.
•Identify the essentials of a good costing system.

Week

2

Module 1: General Principles of Costing

8h

Unit 2: Cost Accounting Systems

8 study hours

•Explain the meaning of cost accounting system.
•Compare cost accounting with financial accounting.
•Distinguish between cost accounting and management accounting.
•Identify the parts of a cost accounting system.
•Highlight the necessity for cost accounting system.

Week

3

Module 1: General Principles of Costing

8h

Unit 3: Determination of Cost Behaviour

8 study hours

•Describe the concept of cost behavior.
•Identify the reasons for studying cost behavior.
•Explain the concept of relevant range.
•Identify and describe the types of cost behavior.
•Describe a level of activity.

Week

4

Module 1: General Principles of Costing

8h

Unit 4: Element of Cost and Cost estimation Techniques

8 study hours

•Define cost and its elements.
•Explain the nature and types of cost classification.
•Describe fixed, variable, and semi-variable costs.
•Explain the need for cost estimation.
•Describe the various cost estimation techniques.

Week

5

Module 2: Budgeting and Standard Costing

8h

Unit 5 Budget and Budgetary Control

8 study hours

•Define budget and budgetary control.
•Identify various types of budgets.
•Outline budget preparation procedures.
•Prepare a cash budget.
•Explain the techniques used in budgeting.
•Distinguish between forecast and budgets.
•Learn about the objectives and organisation of budgetary control.

Week

6

Module 2: Budgeting and Standard Costing

8h

Unit 6 Standard Costing

8 study hours

•Define standard cost and standard costing.
•Explain the setting of standards.
•Identify the types of standards.
•Explain capacity levels.
•Discuss the need for revising standards.
•Understand the shortcomings of setting standard costs.

Week

7

Module 3: Decision Making and Investment Appraisal

8h

Unit 7: Decision Making under Uncertainty

8 study hours

•Define marginal costing.
•Prepare a marginal costing statement.
•Discuss the merits and demerits of marginal costing.
•Explain absorption costing.
•Compare marginal and absorption costing.
•Explain the decision process.
•Define relevant cost and differential costing.

Week

8

Module 3: Decision Making and Investment Appraisal

8h

Unit 8: Sources of Finance

8 study hours

•Identify short-term sources of finance.
•Identify long-term sources of finance.
•Discuss the advantages and disadvantages of each source.

Week

9

Module 3: Decision Making and Investment Appraisal

8h

Unit 9 Payback Period

8 study hours

•Explain the meaning of payback period.
•Calculate payback period.
•Apply decision rules for payback period.
•Discuss the advantages and disadvantages of payback period.

Week

10

Module 3: Decision Making and Investment Appraisal

8h

Unit 10 Accounting Rate of Return

8 study hours

•Explain the meaning of accounting rate of return.
•Calculate accounting rate of return.
•Apply decision rules for accounting rate of return.
•Discuss the advantages and disadvantages of accounting rate of return.

Week

11

Module 3: Decision Making and Investment Appraisal

8h

Unit 11 Net Present Value

8 study hours

•Explain the assumptions underlying discounted cash flow appraisal.
•Define net present value (NPV).
•Calculate net present value.
•Apply investment criteria under the NPV approach.

Week

12

Module 3: Decision Making and Investment Appraisal

8h

Unit 12 Internal Rate of Return

8 study hours

•Define internal rate of return (IRR).
•Calculate internal rate of return.
•Apply investment criteria under the IRR approach.
•Discuss the advantages and disadvantages of IRR.

Week

13

Module 4: Performance Measurement and Revision

16h

Unit 13 Profitability Index

8 study hours

•Explain the meaning of profitability index.
•Calculate profitability index.
•Apply decision rules for profitability index.
•Discuss the advantages and disadvantages of profitability index.

Final Revision

8 study hours

•Review all units
•Work on assignments
•Prepare for final examination

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a detailed study schedule allocating time for each unit.

2

Practice solving numerical problems from each unit, focusing on formulas and calculations.

3

Review all Tutor-Marked Assignments (TMAs) and understand the solutions.

4

Create concept maps linking units on budgeting, costing, and variance analysis.

5

Focus on understanding the assumptions and limitations of each investment appraisal technique.

6

Practice decision-making scenarios using marginal costing and CVP analysis.

7

Review past exam papers to familiarize yourself with the exam format and question types.

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