Summary of content

The module will cover the role of management accounting in decision-making. The main topics will include:

• Financing a Business: Covering the various methods and sources of financing available to businesses, such as equity financing, debt financing, and alternative funding options;
• Costing Methods: Students will explore different costing methods to help managers determine the costs associated with producing goods or services, providing insights into cost allocation and cost management;
• Pricing Strategies: Understanding the strategies for determining product or service prices that align with business objectives.
• Budgeting: Explore the process of setting financial goals, creating budgets, and monitoring actual performance against the budgeted targets. Students will learn about different budgeting techniques, such as flexible budgets, and beyond budgeting to support financial planning and control;
• Variance Analysis: Comparing actual financial results to budgeted or standard costs to identify and analyse discrepancies and take corrective actions to manage costs and improve performance.
• Project Management: Understanding how managers plan, organise, and manage resources to successfully accomplish specific project goals and objectives within defined constraints;
• Strategic Management Accounting: Exploring the role of management accounting in supporting strategic decision-making learning how to analyse financial information to formulate and evaluate business strategies, assess competitive advantage, and drive long-term value creation;
• Decision Making: This aspect covers various decision-making techniques and tools applied in the context of investment appraisal, capital rationing, uncertainty, and risk. Students will learn about methods like net present value (NPV), internal rate of return (IRR), and decision trees to make informed investment decisions.

Module structure

Assessment methods