The course begins by examining the primary functions and objectives of management accounting, along with the potential benefits of effective managerial accounting practices. The main differences between managerial accounting and financial accounting are also detailed and discussed.

Several essential accounting concepts and standards are presented and discussed in the second module, which presents learners with a detailed breakdown of the accounting framework and a series of everyday activities performed by accountancy personnel

A fascinating look at the primary journals and subsidiary books in management accounting follows in Module Three. Candidates consider the distinction between journal and ledgers, the advantages of using subsidiary books, how to make effective use of journals and an overview of the Imprest System.

Module Four brings the basics of bookkeeping into discussion, outlining several key bookkeeping activities and the benefits of accurate bookkeeping. Learners are guided through the process of recording, classifying and organizing financial transactions, while examining the differences between bookkeeping and accounting.

Essential payroll and accounting terminology is presented and discussed in the fifth module, along with several primary payroll management activities and processes. Topics covered include employer tax expenses, government payroll returns, employee benefits, salary deferrals, net wages and gross wages.

Candidates then study the preparation and analysis of profit and loss accounts in business, highlighting the importance of accurately and continuously tracking income. Course content outlines the process of calculating net income (or net profit) by analysing all revenues and expenses during a specific period.

The preparation and use of balance sheets is then discussed, including a series of tips and guidelines for performing effective balance sheet analysis. Additional topics covered include the purpose of financial statements, the concept of working capital, classifications of assets and a look at the current ratio and quick ratio.

Module Eight examines the various sources and uses of cash in business, along with the functions and objectives of cash flow statements. Initial investment capital is also detailed and discussed, alongside inventory, supplies, prepaid expenses, receivables and more.

Candidates then learn how to perform quantitative investigations into the differences between planned and actual behaviours - aka variance analysis. The different categories of variance are presented and discussed, along with variance control, reporting variances and the importance of accurate variance analysis.

Financial performance analysis continues into Module 10, which guides candidates through the process of performing ratio analysis. Topics covered include classification of ratio, norms for evaluation, managerial uses of the primary ratio and more.

A detailed introduction to financial management follows in Module 11, which highlights the main differences between financial management and management accounting. The main categories of financial management are discussed, along with the scope and functions of financial management.

Module 12 covers a series of topics in relation to working capital management, including the different kinds of working capital, the importance of strategic working capital management, how to determine working capital needs, working capital management under inflation and the general significance of working capital in business.

Preparing and adjusting budgets is discussed in Module 13, which outlines the importance of accurate and strategic financial planning. Learners study a breakdown of the budgeting process, the functions of control ratios, guidelines for producing accurate forecasts and the potential consequences of ineffective financial planning.

An introduction to investment methods and the different types of investments follows in Module 14, in which candidates consider how strategic investment decisions are made in business. Additional topics covered include methods of appraisal, cost of capital, limitations of investment appraisal techniques and depreciation.

An introduction to investment methods and the different types of investments follows in Module 14, in which candidates consider how strategic investment decisions are made in business. Additional topics covered include methods of appraisal, cost of capital, limitations of investment appraisal techniques and depreciation.

Several essential end-of-period activities and procedures are then discussed, including posting adjustments and corrections, reconciling cash, reconciling investments, working with the trial balance, dealing with bad debt and a further look at asset depreciation.

Concluding the course, Module 16 examines internal and external auditing activities, along with why audits are carried out and who takes responsibility for them. The benefits of regular auditing are also discussed, along with how internal and external audits often serve two entirely different purposes in business.