MODULE 6 – THE MANAGEMENT ACCOUNTANT’S PROFIT STATEMENT – ABSORPTION COSTING & MARGINAL COSTING Module objectives: After going through this module, you will be able to: Understand the marginal costing principles The absorption costing principles Prepare Management Accountant’s profit statement using both the Marginal and Absorption costing principles Perform a reconciliation of Marginal …
Module objectives: After going through this module, you will be able to: Understand the concept of Activity Based Costing Distinguish between Cost drivers and Cost pool Know the various steps involved in using the method to prepare the Statement of Profit/Loss Understand the criticism and problems of the approach Explain how organisations switch to …
Module objectives: After going through this module, you will be able to: 1.Explain the various ways of stock controls 2.List documents used by organisations for inventory control 3.Understand the various stock levels and their concepts 4.Calculate the cost of inventory 5.Prepare the Material Control Account 1.1.Introduction Materials refer to the basic inputs, ingredients or components …
Module objectives: After going through this module, you will be able to: Define and explain the various basis of cost classification Understand the various cost and responsibility centres used in various organisation Explain the concept of cost behaviour Perform calculations to distinguish between variable costs and fixed costs using the High and Low method. …