Foundations of Managerial Accounting (9517.1)

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Unit Outlines

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• UC Term 1, 2016, ON-CAMPUS, LIFE (155101) - View

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Syllabus

Almost all management decisions deal with the same key issues: cost, price and profit. This unit will examine this sort of decision-making, identifying the tools and methods managers use to make the best-informed decisions possible. It begins with an introduction to the terms that will be referenced in the later units. The unit then covers the various methods and theories that managers deploy when tracking costs and profits. The final section explains how managers report on the overall performance of a firm or department for internal use.

Learning Outcomes

On successful completion of this unit, students will be able to:

1. Identify and compare and contrast financial accounting and managerial accounting in terms of audience, reporting, time frame, and use of information;

2. Describe, analyse, and record transactions of a manufacturing business;

3. Calculate and use cost information to support operating and strategic decisions regarding products, customers and long-term assets;

4. Explain how managerial accounting information facilitates planning, controlling, and decision-making activities;

5. Interpret time value of money calculations to make a capital budgeting decision; and

6. Describe why managerial accounting requires a cross-functional team.

Assessment Items

Contact Hours

150 learning hours in online self-paced mode.

Prerequisites

3cp

Corequisites

None.

Assumed Knowledge

None

Incompatible Units

5617 Accounting for Managers

Equivalent Units

No