UPDATED NOTES ON MANAGEMENT ACCOUNTING

Cost accounting is a type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment.

Accounting is the process of identifying measuring and communicating economic information to permit informed judgments and decisions by users of information. It is therefore concerned with providing information that will help decision makers make good decisions.

The purpose Advanced management accounting notes is to equip the candidate with knowledge and skills to enable him or her apply advanced management accounting tools and techniques for decision making in the context of organizational strategy.

The purpose of these management accounting CPA notes is to equip the candidate with knowledge and skills that will enable him or her to apply the principles of cost estimation, cost and management accounting techniques and methods for decision making.

Management accounting is the application of professional knowledge and skills in preparation and presentation of accounting information in such a way as to assist management in formulation of policies and planning /control of operations of undertakings.

DAF1305: MANAGEMENT ACCOUNTING Contact Hours: 30 Pre-requisites: DBM 114 and DBM 121 Purpose: To provide the student with the knowledge of important concepts and techniques needed by managers in planning, control, management and decision making in business organization Expected Learning Outcomes of the Course: By the end of the course unit the learners should be able to:- i) Explain the importance of management accounting in the management of organizations ii) Apply management accounting techniques to solve various management dilemmas iii) Explain the importance of budgeting and responsibility accounting in management of organizations Course Content: Nature, Purpose and scope of Management Accounting; Decision Making environments and techniques; Cost Behavior; Cost Estimation; Relevant costing; Cost-Volume- Profit Analysis; Variable and absorption costing; Master Budget and Responsibility Accounting