This qualification covers the preparation of Management Accounting reports as an aid to decision making and follows on from the ICB Level III Diploma in Costing and Budgeting.
If you intend on sitting the exam at the end of this unit, then you will need to be a member of the Institute of Certified Bookkeepers (ICB) and hold a current, valid ICB Level 3 qualification.
It is also advisable that you have completed the Costing and Budgeting course as well.
Basic numerical skills and a good understanding of the English language would also be advantageous.
The course fee Includes:
- New Style Printed Workbook containing lessons, examples, tasks and assignments
- Activity Answer Book
- FREE Postage and packaging within the UK
- Chapter 1: The Business Environment
- Chapter 2: Cost Recording, Reporting and Behaviour
- Chapter 3: Activity Based Costing
- Chapter 4: Budget Preparation, Control and Responsibility Accounting
- Chapter 5: Preparing a Budget
- Chapter 6: Comparing Budgeted and Actual Costs
- Chapter 7: Reconciliation Statements
- Chapter 8: Long Term Decision Making
- Chapter 9: Key Performance Indicators
The Business Environment
- Explain the role and purpose of management accounting as a business activity.
Cost recording, cost reporting and cost behaviour
- Distinguish between marginal and absorption costing.
Accounting for Overheads
- Understand the process of allocation, apportionment and absorption of overhead and the application of ABC (Activity Based Costing)
Standard Costing and Variance Analysis
- Understand the role and purpose of Standard Costing and Variance Analysis in Management Reporting.
Performance Indicators (PI’s)
- Explain the use of Performance Indicators to measure: Profitability, Liquidity, Utilisation, Efficiency and Productivity and also apply the Balance Scorecard Technique of measuring performance.
Budget Preparation, Budgetary Control and Responsibility Accounting
- Explain the role and purpose of Budget Preparation, Budgetary Control and Responsibility Accounting.
Capital Investment Appraisal
- Explain the role and purpose of Capital Investment Appraisal Techniques.
If you choose to sit the exam at the end of this unit, you would be required to be registered with the ICB first. You would also be required to be qualified to Level 3. To give you the best chance of exam success, it is also advisable that you have completed the Level 3 Costing and Budgeting course as well. You would then contact the ICB to book your exam.
The exam can be taken from home or work, and comprises of one 3 hour exam. You will have 2 weeks from when you receive the exam to take it. Once activated you will have 3 hours to complete it.