To develop knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.

DETAILED SYLLABUS

A.The nature and purpose of cost and management accounting

• 1.Accounting for management
• 2.Cost accounting and financial accounting

B.Cost classification , behaviour, and purpose

1. 1.Production ,selling ,and administration costs
2. 2.Direct and indirect costs
3. 3.Fixed and variables costs

C.Business mathematics and computer spreadsheets

• 1.Dealing with uncertainity
• 2.Statistics for business
• 3.Use of spreadsheet models

D.Cost accounting techniques

• 1.Accounting for materials
• 2.Accounting for labour
• 3.Accounting for overheads
• 4.Marginal and absorption costing
• 5.Job and batch costing
• 6.Process costing
• 7.Service / operation costing

E.Budgeting and standard costing

• 1.Nature and purpose of Budgeting
• 2.Functional budgets
• 3.Flexible budgets and standard costing
• 4.Basic variance analysis
• .5 Reconciliation of budgeted profit to actual profit

F.Short-term decision –making techniques

• 1.Cost – volume –profit analysis
• 2.Relevant costing
• 3.Limiting factors

APPROACH TO EXAMINING THE SYLLABUS
The syllabus is assessed by a two-hour paper –based or computer –based examination. Questions will assess all parts of the syllabus and will include both computational and non-computational elements. The examination will consist of 40 two-mark questions, and 10 one-mark questions.