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Business Management: Fundamentals of Management Accounting

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$606

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Course Features

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Duration

10 weeks

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Delivery Method

Online

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Available on

Lifetime Access

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Accessibility

Mobile, Desktop

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Language

English

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Subtitles

English

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Level

Intermediate

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Teaching Type

Instructor Paced

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Dates & Batches

From 27 Mar 23

Course Description

This microcredential is available from the Open University. It will help you to understand how accounting management contributes to a successful company.

Learn best practices in management accounting to inform your professional decision-making. You will learn new skills that will improve your ability to solve business problems and adapt your approach.

This microcredential will equip you with the ability to analyze information, calculate costs, prepare a budget for planning control purposes, and evaluate costing methods in order to make financial decisions.

This course is for non-financial professionals and will help you understand and use management accounting terminology.

To help you face any challenges, you'll be able to study business problems in a variety of contexts and sectors. This could include determining the price your company should charge to develop a product or analyzing how much revenue it will generate.

You'll be able immediately to apply the knowledge you have gained to your work by the end of this microcredential.

Accounting can be divided into management and financial accounting. Management accounting is an internal process that records business transactions. It is designed to help decision-makers within an organisation make informed business decisions. Financial accounting is the collection of accounting data in order to create financial statements.

Open University also offers a microcredential in Non-Financial Accounting for Financial Roles. This course is complementary and will equip you with the knowledge you need to interpret and evaluate financial statements, rather than build them. It will allow you to make informed business decisions.

Accounting skills are essential in planning for the future. These skills will help you to set goals and provide data-driven input that can be used to make business decisions.

Learners based in Northern Ireland may be eligible for fully-funded places. Applications for funding places close at 1 October 2021. We recommend that you apply for funded places as soon as you can because there are limited spots. More information: https://www.open.ac.uk/courses/choose/skill-up

Course Overview

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Alumni Network

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Personlized Teaching

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International Faculty

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Post Course Interactions

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Instructor-Moderated Discussions

Skills You Will Gain

Prerequisites/Requirements

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This is an introductory course and no previous knowledge of accounting is required

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You do not require any specific experience or qualifications to enrol

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The course draws on practical examples from many industries and will help you to develop management accounting skills that are transferable to a diverse range of sectors and organisations, including government, local authorities and the not-for-profit sec

What You Will Learn

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Identify the need for accounting information when managing organisations

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Prepare a budget for planning and control purposes

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Calculate the cost of different types of products, processes and services

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Interpret a variety of different types of information from different information sources

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Evaluate and implement appropriate costing methods to make financial decisions

Target Students

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This microcredential will increase your confidence in applying management accounting principles to solve business problems

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In particular, it will enhance the employability of

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Professionals who would like to progress to management level

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Professionals who are new to an accounting role but lack formal qualifications

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Senior professionals looking to develop their management accounting skills

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Self-employed professionals looking to develop their skills and knowledge of management accounting

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The skills you'll learn will be relevant for learners from countries around the world.

Course Instructors

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Mark Taylor

Instructor

Mark Taylor is a consultant and educator whose interests including strategy, finance and management. As well as teaching, he is involved in course design for companies and universities across the UK.
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Paul Ranford

Instructor

Paul is a Chartered Accountant, an Open University Associate Lecturer (since 2006), and author of accounting module materials. He was awarded SFHEA for his teaching leadership in October 2017.
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Jay Naik

Instructor

I am an Associate Lecturer with the OU. I have 16 years experience with other institutions as a Senior Lecturer covering all business subjects at Undergraduate, Postgraduate & Professional level.
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