ACCT19060  Management Accounting

This course builds on the concepts of managerial accounting introduced in first-year accounting. The course commences with a recap of some of the basic concepts previously covered, such as the contribution margin, CVP analysis and cost pools. For the first time, students will look at accounting in terms of the value chain. More specifically, students will look at some of the alternative accounting systems - operations costing and backflush costing. Other topics covered include absorption costing, variable costing, cost behaviour and cost allocation. This course also introduces the additional purposes of management accounting - provision of information for decision-making and the evaluation of past decisions. Budgeting concepts previously studied form the basis for extensive work in the area of variance analysis. Students will look at both the application and interpretation of variances.