The purpose of Management Accounting is to provide useful information to management helping to make the right decisions.

The course aims to provide students with the foundations for understanding Management Accounting both in theory and in practice by presenting its basic concepts, principles and applications.

The course material introduces students to the methods and processes of selecting accounting information for business decision-making, emphasizing the costing of products and services.

On successful completion of the course the student:

• will have become familiar with costing concepts and terms such as the cost of raw materials, direct labor, industrial overheads and their costing treatment for calculating production and service costs.
• will know costing techniques such as absorption costing, marginal costing and standard costing. They will have understood the basic principles and features of activity-based costing.
• They will be able to select and apply management accounting techniques in practical situations.