Introduction to Management Accounting

Date:

Day(s):

Mondays & Wednesdays

Duration:

50 hours

Time:

5:30 pm –7:30 pm

Venue:

NRDF Room # 5

Certification:

UWI Endorsed Certificate

Background:

This course will expose participants to the introductory aspect of internal reports and analyses, management planning, management decision making and product costing.

Target Group:

Students who have completed the Introduction to Financial Accounting and Accounts Clerks, Store Keepers, Purchasing Clerks, Small Business Owners etc.

Tutor:

Cecil Bertin, BComm. Accounting & ACCA Level 2

Course Content

Module 1: Accounting for Manufacturing Businesses

• Stock
• Direct Costs
• Indirect Costs
• Prime Costs
• Production Costs
• Work in Progress

Module 2: Inventory Planning, Control and Valuation

• Acquisition Costs
• Ordering Costs
• Carrying Costs
• Purchasing Control
• Safeguarding the company’s inventory
• FIFO (first in first out)
• LIFO (last in, first out)

Module 3: Product Costing Methods – Standard Variable & Standard absorption

• Variable Costing
• Absorption Costing
• Variable Factory Overhead
• Fixed Factory Overhead

Module 4: Ratio Analysis and Interpretation of Financial Statements

• Liquidity Ratios
• Activity Ratios
• Profitability Ratios
• Coverage Ratios

Module 5: Budgets and Budgeting

• Variance Analysis
• Master Budgets
• Internal & External Forecast
• Capital Budgets

Module 6: Breakeven and Cost-Volume-Profit Analysis

• Fixed Costs
• Variable Costs
• Break Even Point
• Introducing an income tax element

ASSESSMENT:

Home assignment, Class Exercises & Quizzes
And a final examination.