Introduction to Accounting Fundamentals of Management Accounting: Lesson 1 Introduction and MIS

Dive into the world of Management Accounting (MA), a crucial segment of accounting tailored for internal business use. An important decision making tool for all businesses that want to achieve success. This course is designed to empower budding managers and entrepreneurs with the skills to make informed decisions. You’ll explore the intricate workings of costing, pricing, resource utilization, and financial decision-making.

This is the first lesson of this courses. Learners will explore the basic introductory concepts in Management Accounting. The main areas covered are:

1. The Role of Management Accounting: Uncover how MA is pivotal in the overall Management Information System (MIS) framework. Understand its unique position and how it differs from other financial roles, providing a strategic edge to management.

2. Decision-Making Mastery: Gain insights into the decision-making process at various managerial levels. Learn how to navigate through complex business scenarios with ease.

**The Learning Outcomes are: **

• Explain what is meant by Management Information System (MIS)
• Explain the Financial Management function
• Distinguish between Financial Accounting and Management Accounting
• Identify the users of accounting information
• Explain the qualitative characteristics of accounting information
• Ethics of accounting & implications
• Assess the impact of MIS on the organisation

This course is suitable for candidates in Grade 5, 6 (A level and further education), further education and higher education level students, or those who wish to pursue a career in enterprise and entrepreneurship. Whether it is beginners or professional, this course is designed to build on your interest and passion for accounting and management, and provide essential information to explore the topic further.

All lesson materials include reading materials, various exercises, activities, and assessments. The PowerPoint presentations are fully animated with scripts and ready to deliver. They contain a mixture of topic information, examples, and activities/exercises for each topic in the specification for the learning outcomes. All lessons are suitable for about 1 hour of teaching time in which class exercises and homework are integrated into lessons where appropriate.

We wish you all the best for the study, and should you have any further questions, please get in touch via email.