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CA22/AD32: MANAGEMENT ACCOUNTING

Description

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GENERAL OBJECTIVE

This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply management accounting principles and concepts in business.

LEARNING OUTCOMES

A candidate who passes this paper should be able to:

Estimate the cost of goods and services

Analyse product costs for manufacturing and non-manufacturing activities

Prepare marginal and absorption cost statements

Analyse an organisation’s activities through budgetary control process

Analyse variances for decision making

Use computers in cost Accounting

Weekly Course Recap Zoom Session

What Will I Learn?

  • Estimation of the cost of goods and services
  • Analysis of product costs
  • Marginal and absorption cost statements
  • Budgetary and budget control process
  • Variances Analysis
  • Use of computers in cost Accounting

Topics for this course

45 Lessons72h

NATURE AND PURPOSE OF COST AND MANAGEMENT ACCOUNTING?

The nature of cost accounting and costing terms The role of cost accounting in management The purposes of cost accounting information Scope of cost accounting Meaning of management accounting, scope, limitations, applications Relationship between cost, financial and management accounting Selection of an ideal cost accounting system
The purposes of cost accounting information
Scope of cost accounting
Installation of Cost Accounts
Selection of an ideal cost accounting system
Meaning of management accounting, scope, limitations, applications
Relationship between cost, financial and management accounting

COST CLASSIFICATION?

Definition and purpose of cost classification Methods of cost classification: by nature/elements of manufacturing costs; functional classification; behavioural classification; controllability; time; financial accounting; identification with inventory; for decision making

COST ESTIMATION?

Meaning of cost estimation Methods of estimating cost; non-mathematical methods like engineering method, accounts analysis method and high-low method; mathematical methods like scatter graph method, OLS regression method (simple linear regression only)

ACCOUNTING FOR MATERIAL, LABOUR AND OVERHEADS?

Accounting for materials and inventory; material cost records, purchasing procedures, receipt and issues of material, methods of valuing material issues, inventory control procedures; economic order quantity (EOQ) and economic batch quantity(EBQ) models and back flush Accounting for labour: Methods of labour remuneration, labour control procedures, maintenance of labour records Accounting for overheads: Types of overheads, manufacturing, distribution and administration, service departmental cost allocation and apportionment, overheads analysis, overhead absorption rates, over or under absorption

COST BOOKKEEPING?

The flow of costs in a business enterprise Cost bookkeeping- interlocking and integrated ledger systems

COSTING METHODS?

Job order costing Batch costing Process costing (including work in progress; joint and by-products) Service costing Unit costing

MARGINAL AND ABSORPTION COSTING?

Distinction between marginal and absorption costing Valuation of products under marginal and absorption costing Preparation of marginal and absorption statements; cost of production and profit determination Applications of marginal costing: break-even analysis and charts (single product) Simplified decision problems; accept or reject, special order, dropping a product, make or buy Operating statements

ACTIVITY BASED COSTING?

Meaning of ABC Types of activities Overhead absorption rates Incomes statement

BUDGETING AND BUDGETARY CONTROL?

Nature and purposes of budgets Preparation of budgets; master budgets, functional (department budgets, cash budgets), proforma financial reports (income statements and balance sheets) Purpose of budgetary control; operation of a budgetary control system, organisation and coordination of the budgeting function Distinction between budgeting and budgetary control in the private and public sectors

STANDARD COSTING?

Types of standards Principles of setting standards Standard cost card Behavioural aspects of standard costing Generation of standard cost information Materials, labour and overheads variances; price ,efficiency mix and yield variances

COST MANAGEMENT?

Value chain-research and development; design; production; marketing distribution; customer care Just in time (JIT) Use of computers in costing; job costing, inventory management, labour costing, cost entre analysis, coding, budgeting and decision making

EMERGING ISSUES AND TRENDS

About the instructors

Dr. Wandera has over 13 years experience teaching in public universities, colleges and training in various corporates and businesses on business related issues. He has a PhD in Strategic Management, an MBA in Strategic Management and an undergraduate degree in Business Management (Accounting and Finance Option). He is also a CPA (K) and a CHRP (K).
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GlobopointConsultantsLtd

e-Learning Training and Consultation

 

Globopoint Consultants Limited is a fully registered Research, Training, and Consultancy firm based in Mombasa Kenya serving the entire East African region and beyond. The company is geared towards building professionals, entrepreneurs, growing businesses, and fostering sustainable economic development.

Globopoint Learning center is a fully accredited institution run by Globopoint Consultants Limited to specifically nurture modern-day professionals in the business field in an easy, practical, and convenient way.

4.87 (46 ratings)

158 Courses

1504 students

KSh1,000.00

Material Includes

  • Regularly updated online notes
  • Handouts
  • Zoom sessions
  • Video Clips & Recordings
  • KASNEB Past Papers Questions and Answers
  • Case Studies

Requirements

  • KCSE aggregate average of at least grade C+ (C plus) or its equivalent.
  • KACE with at least TWO Principal passes with credits in Mathematics and English at KCE
  • KASNEB technician, diploma or professional examination certificate.
  • A degree from a recognised university.
  • IGCSE examination grade C in 6 papers with C in both English and Mathematics.
  • Such other certificates or diplomas as may be approved by KASNEB.

Target Audience

  • CPA Section 2 Students
  • ATD Level 3 Students
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