Advanced Management and Cost AccountingModule Details

Rationale          

This course builds upon previous courses, offering proficiency in managerial and cost accounting concepts which is essential for informed decision-making and strategic planning. By delving into advanced management processes and methods, students are empowered to tackle practical issues with confidence and precision, enhancing their ability to contribute meaningfully to organisational decision-making processes particularly in areas related to cost accounting and pricing strategies.

The main aim of this course is to improve the students' abilities in applying advanced management and cost accounting concepts, techniques, and practices to different kinds of organisations for planning, decision-making, and control purposes.

Learning Outcomes

At the end of the course students will be expected to:
(i)    Apply the process costing and the spoilage/scrap and rework concepts in practice. 
(ii)   Utilise Activity Based Costing for more accurate pricing decisions. 
(iii)  Compare activity-based costing with other costing systems.
(iv)  Compare cost and revenue allocation methods. 
(v)   Prepare flexible and static budgets and variance analysis reports.
(vi)  Use various advanced costing methods in practice.