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Introduction to Management Accounting
Isobel Wroath,
James Patrick,
Krutika Adatia,
and
Gillian Logue
Isobel Wroath,
James Patrick,
Krutika Adatia,
and
Gillian Logue
Have you ever wondered what systems and processes might be in place for management to make certain financial decisions? Intrigued to know? Complete this course and learn about the important role of management information.
Read more
Have you ever wondered what systems and processes might be in place for management to make certain financial decisions? Intrigued to know? Complete this course and learn about the important role of management information.
Read more
Have you ever wondered what systems and processes might be in place for management to make certain financial decisions? Intrigued to know? Complete this course and learn about the important role of management information.
Introduction to management accounting will help develop your knowledge and understanding of providing basic management information to support planning and decision making in an organisation. Making the right decisions based on relevant information is critical to a business’s success.
This course is especially beneficial if you want to:
* Start a career in business, finance or accountancy
* Study business or finance at school or college
* Launch your own start-up
* Prepare for ACCA’s exam in Management Information (MA1)
You don’t need any prior knowledge of the subject – simply sign up and start learning straight away.
Course update:
To coincide with syllabus changes coming into effect from 20th September 2023 onwards, ACCA-X will be releasing a new version of this course on 28th August 2023. This new version will include technical content and question updates relevant to the 2023/2024 syllabus.
It is therefore important to ensure you enrol onto the correct version of the course. Detailed syllabus information is available within the course and can also be found here
This course does not offer an edX certificate but you can earn a certificate by sitting the relevant ACCA exam.
Register for this course and see more details by visiting:
OpenCourser.com/course/tmxbit/introduction
What's inside
Learning objective
In this course you will acquire the knowledge and understanding on the key aspects of cost and management accounting that help to inform key decision making.
In this course you will acquire the knowledge and understanding on the key aspects of cost and management accounting that help to inform key decision making.
Syllabus
The syllabus for this course will cover the following:
* The nature and purpose of cost and management accounting
* Source documents and coding
Read more
Syllabus
The syllabus for this course will cover the following:
* The nature and purpose of cost and management accounting
* Source documents and coding
Read more
* Cost classification and measuring
* Recording costs
* Spreadsheets
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Introduces the core concepts of cost and management accounting, which are fundamental for informed decision-making in organizations
Provides a strong foundation for those pursuing a career in business, finance, or accountancy
Well-suited for individuals who want to start a business or prepare for the ACCA Management Information exam
Taught by experienced instructors from ACCA-X, ensuring the quality of the content
Requires no prior knowledge, making it accessible to learners from diverse backgrounds
Covers cost classification, measurement, and recording processes, providing a comprehensive understanding of cost management
Save this course
Save Introduction to Management Accounting to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Introduction to Management Accounting with these
activities:
Read 'Financial Management' by J. Fred Weston
Show steps
Review key concepts in financial management to strengthen your foundational knowledge.
View
Takeovers, Restructuring, And Corporate...
on Amazon
Show steps
-
Acquire a copy of the book 'Financial Management' by J. Fred Weston.
-
Set aside dedicated time for reading.
-
Take notes and highlight important passages.
-
Summarize key concepts and ideas.
Review cost accounting concepts
Show steps
Review the basics of cost accounting to strengthen your foundation for this course.
Browse courses on
Cost Accounting
Show steps
-
Read through your old notes or textbooks on cost accounting.
-
Complete practice problems or simulations related to cost accounting.
Join a study group to discuss course concepts
Show steps
Engage with peers to clarify concepts, share insights, and enhance your understanding.
Browse courses on
Management Accounting
Show steps
-
Find or create a study group with other course participants.
-
Establish regular meeting times and discuss course materials.
-
Collaborate on problem-solving and case studies.
-
Provide feedback and support to group members.
11 other activities
Expand to see all activities and additional details
Show all 14 activities
Join a study group for the course
Show steps
Collaborate with peers to discuss course materials, share insights, and test your understanding.
Browse courses on
Management Accounting
Show steps
-
Reach out to classmates or join online forums to find potential study partners.
-
Establish regular meeting times and a communication platform.
-
Review course materials together, quiz each other, and work on assignments as a group.
Solve practice problems on cost classification
Show steps
Reinforce your understanding of cost classification through repetitive practice.
Show steps
-
Gather practice problems from textbooks or online resources.
-
Set a timer and attempt to solve the problems within the time limit.
-
Check your answers against provided solutions.
-
Review incorrect answers and identify areas for improvement.
Assist with accounting tasks at a non-profit organization
Show steps
Gain practical experience in accounting and apply your knowledge to real-world situations.
Browse courses on
Accounting
Show steps
-
Identify a non-profit organization that needs assistance with accounting tasks.
-
Contact the organization and offer your services.
-
Perform accounting tasks such as data entry, bank reconciliations, or financial reporting.
-
Seek guidance and feedback from experienced accountants.
Explore online tutorials on management information systems
Show steps
Supplement your learning by exploring online tutorials that cover various aspects of management information systems.
Browse courses on
Management Information Systems
Show steps
-
Search for reputable online platforms or courses that offer tutorials on management information systems.
-
Identify specific topics within management information systems that you want to strengthen.
-
Follow the tutorials, take notes, and complete any practice exercises provided.
Solve practice problems on cost and management accounting
Show steps
Reinforce your understanding by solving practice problems that cover the key concepts of cost and management accounting.
Browse courses on
Accounting
Show steps
-
Obtain practice problems from your instructor, textbooks, or online resources.
-
Allocate dedicated time for solving these problems.
-
Review your solutions and identify areas where you need further clarification.
Read 'Management Accounting: A Practical Guide' by John Drury
Show steps
Gain additional insights by reading a recommended textbook that delves deeper into the principles of management accounting.
Show steps
-
Purchase or borrow a copy of 'Management Accounting: A Practical Guide' by John Drury.
-
Allocate dedicated time for reading and taking notes.
-
Complete the end-of-chapter exercises and review questions to test your understanding.
Develop a spreadsheet to track and analyze costs
Show steps
Apply your knowledge of spreadsheets to create a practical tool for cost management.
Browse courses on
Spreadsheets
Show steps
-
Identify the necessary data and formulas for cost tracking and analysis.
-
Design the spreadsheet layout and input data.
-
Create formulas to calculate and analyze costs.
-
Test the spreadsheet and make necessary adjustments.
Attend a workshop on financial modeling for decision-making
Show steps
Enhance your practical skills by attending a workshop that focuses on applying financial modeling techniques to support decision-making.
Browse courses on
Financial Modeling
Show steps
-
Research and identify relevant workshops on financial modeling.
-
Register for and attend the workshop.
-
Actively participate in discussions and exercises.
Develop a presentation on the role of management information in decision-making
Show steps
Deepen your understanding by creating a presentation that explores the significance of management information in supporting decision-making.
Browse courses on
Management Information
Show steps
-
Research and gather information on the role of management information in decision-making.
-
Organize your content into a logical flow, including an introduction, key points, and a conclusion.
-
Create visual aids, such as charts or graphs, to support your presentation.
-
Practice your presentation and seek feedback from peers or instructors.
Contribute to an open-source accounting software project
Show steps
Enhance your technical skills and make valuable contributions to the accounting community.
Browse courses on
Accounting
Show steps
-
Identify an open-source accounting software project to contribute to.
-
Become familiar with the project's codebase and development process.
-
Identify areas for improvement or new features.
-
Create and submit pull requests with your contributions.
Create a comprehensive study guide
Show steps
Consolidate your learning by creating a study guide that summarizes key concepts, formulas, and examples.
Browse courses on
Management Accounting
Show steps
-
Review your notes, textbooks, and other course materials.
-
Identify important concepts, formulas, and examples.
-
Organize the information into a logical structure.
-
Add practice questions and exercises to reinforce your understanding.
Read 'Financial Management' by J. Fred Weston
Show steps
Review key concepts in financial management to strengthen your foundational knowledge.
View
Takeovers, Restructuring, And Corporate...
on Amazon
Show steps
Show steps
Show steps
- Acquire a copy of the book 'Financial Management' by J. Fred Weston.
- Set aside dedicated time for reading.
- Take notes and highlight important passages.
- Summarize key concepts and ideas.
Review cost accounting concepts
Show steps
Review the basics of cost accounting to strengthen your foundation for this course.
Browse courses on
Cost Accounting
Show steps
Show steps
Show steps
- Read through your old notes or textbooks on cost accounting.
- Complete practice problems or simulations related to cost accounting.
Join a study group to discuss course concepts
Show steps
Engage with peers to clarify concepts, share insights, and enhance your understanding.
Browse courses on
Management Accounting
Show steps
Show steps
Show steps
- Find or create a study group with other course participants.
- Establish regular meeting times and discuss course materials.
- Collaborate on problem-solving and case studies.
- Provide feedback and support to group members.
11 other activities
Expand to see all activities and additional details
Show all 14 activities
Join a study group for the course
Show steps
Collaborate with peers to discuss course materials, share insights, and test your understanding.
Browse courses on
Management Accounting
Show steps
Show steps
Show steps
- Reach out to classmates or join online forums to find potential study partners.
- Establish regular meeting times and a communication platform.
- Review course materials together, quiz each other, and work on assignments as a group.
Solve practice problems on cost classification
Show steps
Reinforce your understanding of cost classification through repetitive practice.
Show steps
Show steps
Show steps
- Gather practice problems from textbooks or online resources.
- Set a timer and attempt to solve the problems within the time limit.
- Check your answers against provided solutions.
- Review incorrect answers and identify areas for improvement.
Assist with accounting tasks at a non-profit organization
Show steps
Gain practical experience in accounting and apply your knowledge to real-world situations.
Browse courses on
Accounting
Show steps
Show steps
Show steps
- Identify a non-profit organization that needs assistance with accounting tasks.
- Contact the organization and offer your services.
- Perform accounting tasks such as data entry, bank reconciliations, or financial reporting.
- Seek guidance and feedback from experienced accountants.
Explore online tutorials on management information systems
Show steps
Supplement your learning by exploring online tutorials that cover various aspects of management information systems.
Browse courses on
Management Information Systems
Show steps
Show steps
Show steps
- Search for reputable online platforms or courses that offer tutorials on management information systems.
- Identify specific topics within management information systems that you want to strengthen.
- Follow the tutorials, take notes, and complete any practice exercises provided.
Solve practice problems on cost and management accounting
Show steps
Reinforce your understanding by solving practice problems that cover the key concepts of cost and management accounting.
Browse courses on
Accounting
Show steps
Show steps
Show steps
- Obtain practice problems from your instructor, textbooks, or online resources.
- Allocate dedicated time for solving these problems.
- Review your solutions and identify areas where you need further clarification.
Read 'Management Accounting: A Practical Guide' by John Drury
Show steps
Gain additional insights by reading a recommended textbook that delves deeper into the principles of management accounting.
Show steps
Show steps
Show steps
- Purchase or borrow a copy of 'Management Accounting: A Practical Guide' by John Drury.
- Allocate dedicated time for reading and taking notes.
- Complete the end-of-chapter exercises and review questions to test your understanding.
Develop a spreadsheet to track and analyze costs
Show steps
Apply your knowledge of spreadsheets to create a practical tool for cost management.
Browse courses on
Spreadsheets
Show steps
Show steps
Show steps
- Identify the necessary data and formulas for cost tracking and analysis.
- Design the spreadsheet layout and input data.
- Create formulas to calculate and analyze costs.
- Test the spreadsheet and make necessary adjustments.
Attend a workshop on financial modeling for decision-making
Show steps
Enhance your practical skills by attending a workshop that focuses on applying financial modeling techniques to support decision-making.
Browse courses on
Financial Modeling
Show steps
Show steps
Show steps
- Research and identify relevant workshops on financial modeling.
- Register for and attend the workshop.
- Actively participate in discussions and exercises.
Develop a presentation on the role of management information in decision-making
Show steps
Deepen your understanding by creating a presentation that explores the significance of management information in supporting decision-making.
Browse courses on
Management Information
Show steps
Show steps
Show steps
- Research and gather information on the role of management information in decision-making.
- Organize your content into a logical flow, including an introduction, key points, and a conclusion.
- Create visual aids, such as charts or graphs, to support your presentation.
- Practice your presentation and seek feedback from peers or instructors.
Contribute to an open-source accounting software project
Show steps
Enhance your technical skills and make valuable contributions to the accounting community.
Browse courses on
Accounting
Show steps
Show steps
Show steps
- Identify an open-source accounting software project to contribute to.
- Become familiar with the project's codebase and development process.
- Identify areas for improvement or new features.
- Create and submit pull requests with your contributions.
Create a comprehensive study guide
Show steps
Consolidate your learning by creating a study guide that summarizes key concepts, formulas, and examples.
Browse courses on
Management Accounting
Show steps
Show steps
Show steps
- Review your notes, textbooks, and other course materials.
- Identify important concepts, formulas, and examples.
- Organize the information into a logical structure.
- Add practice questions and exercises to reinforce your understanding.
Career center
Learners who complete Introduction to Management Accounting will develop knowledge and skills
that may be useful to these careers:
Management Accountant
Management Accountant
Management Accountants oversee the preparation of financial reports and use this information to help businesses make informed financial decisions in accounting. The Introduction to Management Accounting course from ACCA provides a strong foundation for this career role. The course teaches students how to develop and use management accounting systems, and how to analyze and interpret financial data. This knowledge and understanding can be applied directly to the responsibilities of a Management Accountant.
Cost Accountant
Cost Accountant
Cost Accountants help businesses understand their costs and make informed decisions about how to use resources. The Introduction to Management Accounting course from ACCA can be useful for this career role. The course provides a foundation in cost accounting principles and practices, and how to use cost information to support decision-making.
Budget Analyst
Budget Analyst
Budget Analysts develop and manage budgets for businesses and organizations. The Introduction to Management Accounting course from ACCA can be useful for this career role. The course provides a foundation in budgeting principles and practices, and how to use budgeting to support decision-making.
Financial Analyst
Financial Analyst
Financial Analysts use financial data to make recommendations about investments and other financial decisions. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in financial analysis techniques, and how to use financial information to make informed decisions.
Portfolio Manager
Portfolio Manager
Portfolio Managers manage and oversee investment portfolios for individuals and organizations. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in portfolio management principles and practices, and how to use management accounting to support portfolio management decisions.
Risk Manager
Risk Manager
Risk Managers identify and manage risks for businesses and organizations. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in risk management principles and practices, and how to use management accounting to support risk management decisions.
Financial Planner
Financial Planner
Financial Planners help individuals and families plan for their financial futures. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in financial planning principles and practices, and how to use management accounting to support financial planning.
Auditor
Auditor
Auditors examine and evaluate financial records to ensure that they are accurate and compliant with regulations. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in auditing principles and practices, and how to use auditing to ensure the accuracy and reliability of financial information.
Tax Accountant
Tax Accountant
Tax Accountants help businesses comply with tax laws and regulations. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in tax accounting principles and practices, and how to use tax accounting to minimize tax liability.
Financial Controller
Financial Controller
Financial Controllers oversee the financial operations of businesses and organizations. The Introduction to Management Accounting course from ACCA can be useful for this career role. The course provides a foundation in financial management principles and practices, and how to use management accounting to support financial management decisions.
Management Consultant
Management Consultant
Management Consultants help businesses improve their performance and achieve their goals. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in management consulting principles and practices, and how to use management accounting to support decision-making.
Investment Analyst
Investment Analyst
Investment Analysts evaluate and select investments for individuals and organizations. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in investment analysis principles and practices, and how to use management accounting to support investment decisions.
Business Analyst
Business Analyst
Business Analysts help businesses improve their operations and make informed decisions. The Introduction to Management Accounting course from ACCA can be useful for this career role. The course provides a foundation in business analysis principles and practices, and how to use management accounting to support decision-making.
Data Analyst
Data Analyst
Data Analysts collect, analyze, and interpret data to help businesses make informed decisions. The Introduction to Management Accounting course from ACCA may be useful for this career role. The course provides a foundation in data analysis principles and practices, and how to use management accounting to support data analysis.
Operations Analyst
Operations Analyst
Operations Analysts help businesses improve their operations and make informed decisions. The Introduction to Management Accounting course from ACCA can be useful for this career role. The course provides a foundation in operations analysis principles and practices, and how to use management accounting to support operations analysis.
For more career information including salaries, visit:
OpenCourser.com/course/tmxbit/introduction
Reading list
We've selected 11 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Introduction to Management Accounting.
Is used extensively in academic programs around the world and is very thorough and comprehensive. It is commonly used as a textbook and reference for cost and management accounting courses. It provides a deep understanding of the material covered in the course and lays a solid foundation for further study in this field.
Is known for making management accounting accessible to students and professionals alike. It is written in a clear and concise style and avoids excessive technical jargon. It is used as a textbook at many academic institutions and provides a good foundation for understanding the concepts of cost and management accounting.
This comprehensive textbook covers the fundamental principles of accounting, including cost and management accounting. It lays a solid foundation for understanding the role of accounting in business and provides a good starting point for further study in the field of cost and management accounting.
This textbook is known for its extensive use of examples and illustrations to explain cost accounting concepts. It also has a strong emphasis on decision-making and management control systems. It provides a good understanding of the role of cost accounting in decision-making.
Classic in the field of performance management. It introduces the Balanced Scorecard framework, a widely used tool for measuring and managing organizational performance. It explores how to use the Balanced Scorecard to align organizational goals and strategies with day-to-day operations.
Explains why established companies often fail to innovate and adapt to new technologies. It provides a framework for understanding the challenges of disruptive innovation and how to overcome them.
Save
Provides a simple and effective framework for evaluating the quality of strategies. It emphasizes the importance of clarity, focus, and alignment in developing effective strategies.
Provides a comprehensive guide to using spreadsheets in accounting. It covers various spreadsheet techniques and functions specifically applicable to accounting tasks, such as preparing financial statements, budgeting, and data analysis.
Explores the role of cost management in modern organizations. It provides practical tools and techniques for cost control and optimization. It emphasizes the importance of cost management in decision-making and strategic planning.
Save
Provides a comprehensive framework for understanding and managing value chains. It explores how organizations can create competitive advantage by optimizing their value chains and leveraging their core competencies.
Promotes the concept of lean management in startups. It emphasizes the importance of building a minimum viable product, testing it with customers, and iterating based on feedback to create a successful business.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/tmxbit/introduction
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Effort
5 to 8 hours per week for 6 weeks
Level
Introductory
Via
edX
Institution
ACCA
Instructors
Isobel Wroath
James Patrick
Krutika Adatia
Gillian Logue
Language
English
Transcripts
English
Español
Français
中文
Good to know
Introduces the core concepts of cost and management accounting, which are fundamental for informed decision-making in organizations
Provides a strong foundation for those pursuing a career in business, finance, or accountancy
Well-suited for individuals who want to start a business or prepare for the ACCA Management Information exam
Taught by experienced instructors from ACCA-X, ensuring the quality of the content
Requires no prior knowledge, making it accessible to learners from diverse backgrounds
Covers cost classification, measurement, and recording processes, providing a comprehensive understanding of cost management
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