Introduction to Management Accounting

Overview

Framework:
Access to HE 2024
Level:
Level 3
Unit No:
Not available
Credits:
3
Guided learning hours:
Not available

Qualification Grading Type

Graded

Unit Learning Outcomes

1.

Understand the difference between financial and management accounting.

Assessment Criteria

  • 1.1.

    Explain the difference between financial and management accounting.

2.

Know the fundamentals of management accounting.

Assessment Criteria

  • 2.1.

    Explain the purpose of management accounting.

  • 2.2.

    Explain how costs are classified giving examples of how costs are classified according to element, function and behaviour.

3.

Be able to calculate production costs.

Assessment Criteria

  • 3.1.

    Analyse costs by allocation and apportionment.

  • 3.2.

    Calculate overhead absorption rates using at least two methods to absorb production overheads.

    Indicative Content

    Calculate overhead absorption rates using given information.

  • 3.3.

    Calculate production costs.

  • 3.4.

    Assess the usefulness of calculating production costs for management purposes.