Management accounting frameworks
About the course
This course aims to provide students with a sound understanding of key issues and applied methodologies relating to management accounting frameworks. Those frameworks are used by managers when faced with making financial decisions in the context of the business environment.
In understanding and applying those frameworks, this course seeks to provide students with the requisite knowledge, understanding and skills to cost products, services and activities, understand and manage costs, prepare and manage budgets and undertake a range of short- and longer-term financial decisions.
It provides a robust grounding in and an appreciation of the cost and management accounting principles a manager or business owner should possess. As such, it stands on its own merits but also provides a base for further studies in the accounting and financial management arena.
In so doing it examines the blend of financial analysis and managerial judgement required to make sound decisions. In particular there is an emphasis on issues in overhead cost recovery, including activity-based costing (ABC); contribution costing and CVP analysis; costing issues in the context of a competitive environment; relevant costs for decision making; core investment appraisal techniques (ARR, payback period, NPV and IRR); budgetary control, variance analysis and standard costing.
Recommended learning hours: 150
Course details
- Credit Type: For-Credit
- Study Method: Online, flexible
- Learning Outcomes: On successful completion of this course, students will be able to:
- Understand the differing but inter-connected roles of profit, cash and cost in decision making.
- Identify issues in overhead cost recovery and evaluate their impacts on both cost reporting and decision making.
- Understand the nature of, and apply, contribution and cost–volume–profit (CVP) analysis within managerial decision making.
- Understand the nature of, and apply, relevant costs for decision making.
- Undertake and evaluate investment appraisal decisions.
- Apply budgetary control and variance analysis.
- Career Opportunity: Completing this microcredential opens pathways to careers in management accounting, cost analysis, budget planning and financial decision support. These roles, both at manager and analyst levels, are essential in organisations that require effective cost control and strategic resource allocation.
- Target Learners: Designed for learners who want to develop practical skills in budgeting, cost management, and financial planning. It is particularly relevant for students looking to explore or grow in positions that involve operational decision-making or financial oversight within technology or business sectors.
- Estimated Time to Complete: 10-20 weeks
- Maximum Registration Period: 1 Year
- Entry Requirements: To be eligible for the course, you must have:
- an undergraduate degree which is considered at least comparable to a UK third class bachelor’s degree , OR
- at least two years’ relevant professional experience at a graduate level, AND
- a high standard of English, equivalent to an IELTS score of at least 6.5 overall with 6.0 in the written test, or a Duolingo score of at least 120.
- Tech/Computer Requirements: We set minimum computer and web access requirements for online study. These are updated from time and can be found at https://www.london.ac.uk/study/how-apply/computer-requirements.
- Prior Knowledge: A good standard of numeracy and a solid grasp of accountancy from your previous education or professional experience will be advantage. If in doubt, we recommend that you first register for the ‘Financial Management Essentials' course.
- Skills Acquired:
- Cost analysis and management
- Budget preparation and control
- Decision-making using management information
- Investment appraisal techniques
- Performance measurement and evaluation
- Start Anytime? Yes
Microcredential Courses
- Course Level
- Postgraduate
- Subject Area
- ACAFM Accounting and Financial Management
- Academic Direction
- University College London