Management Accounting

AY2021/2022 Semester 1

This course covers the strategic nature of management accounting and the relevance of accounting information for today's competitive business environment. Emphasis is placed on the provision of accounting information for planning, control and decision making; and the application of accounting information for supporting tactical objectives and strategic missions of organizations. The course is divided into four major parts. The first part is introductory to cost management and focuses on fundamental cost concepts and how costs can be measured and accumulated under different costing systems. The second part covers the practices in cost management and the use of essential accounting information in managerial planning, control and decision making. The third part exposes students to performance evaluation of business segments and sustainability of organizations in a globally competitive environment. The final part of the course links theories to practice in management accounting by providing students with real life scenarios to integrate knowledge and to promote skills in critical thinking and decision making. The course aims to equip students with analytical skills for problem solving and managerial skills for decision making and business presentation. After the completion of this course, students should be equipped with a strong conceptual and technical knowledge in accounting and costing. Students should understand and appreciate how accounting and costing information support organizational planning, decision making and control. In particular, students should be able to apply their knowledge and skills to influence decisions that create value for organizational stakeholders and improve corporate social responsibility.