Why Managing Costs and Finances (MA2) is introduced?
To gain knowledge and understanding of how basic cost data can be prepared, processed, and presented to assist management in planning and decision-making in a variety of business contexts.
Syllabus of MA2 Managing Costs and Finances
The MA2 syllabus, Cost and finance management, introduces candidates to costing and funding principles and techniques, as well as management accounting elements used to make and support decisions.
The syllabus begins with candidates clearly distinguishing management information from financial accounting information.
The following section, Cost and Finance Management, introduces the principles and techniques of applicant costing and financing, as well as the accounting elements of management used to make and support decisions.
The following section of the syllabus introduces candidates to the use of management accounting to aid in decision-making.
Finally, the syllabus introduces and discusses cash management as an important component of planning.
Main capabilities
- Explain the role of costs in the organization and how they are classified.
- Costs should be described and recorded using categorization.
- Explain and apply cost accounting techniques
- Use accounting management techniques to make and support decisions.
- Explain the fundamentals of cash management.
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