MA2 – Maintaining Costs and Finances
Course Description
MA2 – Maintaining Costs and Finances aims to develop the knowledge and understanding of how to prepare, process and present basic cost information to support management in planning and decision-making in a variety of business contexts. It is designed to help one in developing the knowledge and understanding of the principles and techniques used in recording, analyzing and reporting costs and revenues for internal management purposes. Applicable cost concepts in making short-term decisions and explanations of measurement of performances using spreadsheets are also structured here.
The syllabus is designed as such that introduces candidates to costing and financing principles and techniques, and elements of management accounting which are used to make and support decisions.
It starts by introducing candidates to management information clearly distinguishing it from financial accounting information. As it goes along, introduction to the basics of recording costs in management accounting followed by coverage of a variety of costing techniques used in business are introduced. Furthermore, introduction to the use of management accounting in support of decision making and the concept of cash management (an essential element for planning) is emphasized on.
This course will lead candidates to progress through three discrete levels; Introductory, Intermediate and Advanced. Progressive related papers are FMA, PM, and APM.
Learning Outcome
On successful completion of this paper, candidates should be able to:
- Explain the role of costing within the organization and how costs are classified
- Describe and record costs by classification
- Explain and apply cost accounting techniques
- Use management accounting techniques to make and support decision-making.
- Explain principles of cash management
Certification
You won’t get a certificate for completing this course but if you want to be awarded the “Introductory Certificate in Financial and Management Accounting” you have to pass both the FA2 and MA2 examinations and successfully complete the Foundations in Professionalism module.
Course feature
- Lectures : 33
- Short Test: 02
- Duration: 3 Month
- Skill level: Introductory
- Language: English
- Students: 20
- Certificate :No
- Progress Test: 02
Course Features
- Lectures 29
- Quizzes 3
- Duration 50 hours
- Skill level All levels
- Language English
- Students 2541
- Assessments Yes
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Lecture No
- Management Information
- The role of IT and Reporting of management information
- Cost classification and cost behaviour
- Accounting for materials & Material inventory control
- Cost classification and cost behaviour (continued)
- Accounting for materials & Material inventory control
- Accounting for labour (continued) & Other expenses
- Absorption costing
- Absorption costing (continued)
- Progress Test 1
- Solve class of Progress Test 1
- Marginal costing and absorption costing
- Job and batch costing
- Service costing
- Process costing
- Process costing (continued)
- CVP analysis
- Relevant costing
- Limiting factors, Make or Buy and other decisions
- Discounted cash flow and capital expenditure appraisal (continued)
- Discounted cash flow and capital expenditure appraisal
- Progress Test 2
- Solve class of Progress Test 2
- The nature of cash and cash flows
- Cash management, investing and finance
- Cash budgets
- Cash management, investing and finance (continued)
- Cash budgets (continued)
- Information for comparison
- Mock Test
- Information for comparison (continued)
- Review of Mock results and exam techniques discussed