ACCA: MA (F2) - Management Accounting

Develop planning, control, and decision making through information to drive profitability and sustainability via strategic and operational plans and management reporting in financial and management accounting.

Explore cost classification from direct costs (materials and labor) to indirect costs and overhead, and distinguish fixed versus variable, production versus period costs, and cost centers.

Explore cost behavior by distinguishing fixed and variable costs within the relevant range, and apply the hi-lo method to split semi-variable costs into fixed and variable components.

Present information clearly and concisely by following reporting norms, defining the title and recipient, including contents, scope, terms of reference, cross-referencing, and credible sources, and using labeled tables and charts.

Learn how to account for raw materials, from purchase requisitions and orders to stores control, delivery notes, and inventory valuation using perpetual or periodic systems and economic order quantity.

Learn to measure labor as a direct cost using standard hours and productivity, apply production volume, capacity, and efficiency ratios, and study remuneration methods.

Explore allocating overheads to production using cost drivers, compare direct, step-down, and reciprocal methods for service and production centers, and manage fixed and variable overhead absorption and under- or over-absorption.

Explain process costing by estimating stage of completion, allocating costs via normal spoilage and losses, and calculating equivalent units under first in, first out or weighted average.

Learn budgeting systems and how they feed cash flows, cash budgets, statements of financial positions, and comprehensive income, using estimations to plan cash, profits, and capital items.

Learn standard costing, set attainable standards, build standard cost cards, and analyze material, labor, and overhead variances to control costs and value inventories.

Explore cost management strategies to cut costs below previous levels through efficiency, waste reduction, and smarter production layouts while preserving quality, boosting profitability and contribution.

Explore how to measure performance across financial and non-financial metrics, set benchmarks such as budgets and targets, and use ratios and the balanced scorecard to drive control and strategy.

Assess value analysis to maximize value for money across products and services without compromising quality. Identify substitutes and least-cost options through collaborative evaluation and implementation.