Management Accounting (FMA)

• Educational Background: No prior accounting or finance experience is required. However, a basic understanding of mathematics and analytical thinking will help learners navigate the course content effectively. 

• Language Proficiency: Learners should have a good command of English, as all course materials, assessments, and discussions are conducted in English. 

• Interest in Finance and Decision-Making: This course is ideal for those interested in understanding how management accounting supports strategic decisions and for learners pursuing further qualifications with ACCA. 

• Understand Management Accounting Principles: Learn the fundamental concepts and techniques of management accounting to support informed decision-making. 

• Develop Budgeting Skills: Gain practical expertise in preparing, implementing, and monitoring budgets to enhance organisational performance. 

• Analyse Financial Performance: Master the use of performance indicators and variance analysis to evaluate and improve operational efficiency. 

• Enhance Cost Management Abilities: Understand cost classification, behaviour, and management strategies for effective resource allocation. 

The Management Accounting (FMA) Course is ideal for individuals seeking to strengthen their expertise in management accounting or begin their journey towards a professional qualification in finance. Below are the roles and individuals who can benefit from this course: 

• Aspiring Accountants 

• Finance Assistants 

• Cost Accountants 

• Budget Analysts 

• Business Analysts 

• Junior Finance Managers 

Module 1: The nature, source and purpose of management information 

•  Accounting for management 

• Sources of data 

• Cost classification 

• Presenting information
   

Module 2: Data analysis and statistical techniques

• Sampling methods 

• Analytical techniques in budgeting and forecasting 

• Summarising and analysing data 

•  Spreadsheets
   

Module 3: Cost accounting techniques 

• Accounting for material, labour and overheads 

• Absorption and marginal costing 

• Cost accounting methods 

• Alternative cost accounting principles
   

Module 4: Budgeting 

• Nature and purpose of budgeting 

• Budget preparation 

•  Flexible budgets 

• Asset budgeting and investment appraisal 

• Budgetary control and reporting 

• Behavioural aspects of budgeting
   

Module 5: Standard costing 

• Standard costing system 

• Variance calculations and analysis 

• Reconciliation of budgeted and actual profit
   

Module 6: Performance measurement 

• Performance measurement - overview 

• Performance measurement - application 

• Cost reductions and value enhancement

• Monitoring performance and reporting