Business Management: Fundamentals of Management Accounting Course - The Open University
DURATION
10 Weeks
LANGUAGES
English
PACE
Part time
APPLICATION DEADLINE
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EARLIEST START DATE
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TUITION FEES
USD 639
STUDY FORMAT
Distance Learning
Scholarships
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Introduction
Develop your accounting skills and knowledge to help you make better business decisions and achieve your professional goals.
Gain the key accounting knowledge you need to level up your management career
Develop your understanding of how management accounting contributes to a successful business with this microcredential from the Open University.
Discover best-practice approaches to management accounting and inform your professional decision making. You’ll develop new skills to improve your effectiveness and ability to adapt your approach to solving business challenges.
Develop your management accounting skills
This microcredential will provide you with the skills to interpret information, calculate costs, prepare a budget for planning and control purposes, and evaluate costing methods to make financial decisions.
Designed for non-financial experts, it will give you confidence in understanding and using management accounting terminology.
You’ll study critical business problems from a wide range of sectors and contexts to help you prepare for challenges you may face. This can include determining how much your organisation should charge for a new product and analysing how much revenue a future product or service will generate.
By the end of this microcredential, you’ll be able to immediately apply what you have learnt to your work.
How is management accounting different from financial accounting?
Accounting consists of management and financial accounting. Management accounting is an internal process for business transactions and is aimed at helping decision-makers within the organisation make well-informed business decisions. Financial accounting involves collecting accounting data to create financial statements.
The Open University also has a microcredential in Financial Accounting for Non-Financial Roles. This is a complementary course that will give you the expertise you need to be able to confidently interpret and assess financial statements, rather than construct them, allowing you to make well-informed business decisions.
Why are management accounting skills important for career development?
Management accounting skills are critical in helping to plan for the future of a business. These skills can help you set objectives and provide valuable data-driven input to inform business decisions.
When would you like to start?
We aim to run our microcredentials every few months. Join on the date that suits you or register to hear from an enrolment advisor about future runs and updates.
- 28 March 2022
- 4 July 2022
What you will receive
10 UK credits at the Undergraduate level from The Open University.
You’ll receive an Open University certificate confirming that you have received 10 academic credits at the Undergraduate level. Credits are awarded on passing the final assessment.
Career-focused learning by
The Open University
The Open University (OU) is the largest academic institution in the UK and a world leader in flexible distance learning, with a mission to be open to people, places, methods and ideas.
What is a microcredential?
Microcredentials are designed to upskill you for work in rapidly-growing industries, without the time and cost commitment of a full degree. Your microcredential can stand alone as an independent credential, and some also offer academic credit to use towards a degree.
Learn Online With Expert Instructors Complete online courses led by experts over 12-16 weeks with a dedicated group of professionals. | + | Complete Project-Based Assessments Test your understanding with online tutor-marked assessments and exercises. | + | Earn A Professional Credential Finish your learning and pass your assessments to gain an accredited credential. | = | Advance Further In Your Career Use your microcredential as evidence of your specialised skills and progress further in your industry. |
Ideal Students
Is this microcredential right for you?
This microcredential will increase your confidence in applying management accounting principles to solve business problems.
In particular, it will enhance the employability of:
- Professionals who would like to progress to the management level
- Professionals who are new to an accounting role but lack formal qualifications
- Senior professionals looking to develop their management accounting skills
- Self-employed professionals looking to develop their skills and knowledge of management accounting
The skills you’ll learn will be relevant for learners from countries around the world.
Admissions
Program Outcome
What skills will you learn?
- Applying financial information to improve efficiency and effectiveness.
- Developing budgets for planning and control.
- Assessing the different types of costs for decision making.
- Understanding management accounting principles.
- Identifying the importance of management accounting in organisations.
- Problem-solving using management accounting techniques.
- Understanding the importance of contribution in decision making.
- Identifying the break-even level of output.
What will you achieve?
By the end of the course, you‘ll be able to:
- Identify the need for accounting information when managing organisations.
- Prepare a budget for planning and control purposes.
- Calculate the cost of different types of products, processes and services.
- Interpret a variety of different types of information from different information sources.
- Evaluate and implement appropriate costing methods to make financial decisions.
Program Leaders
English Language Requirements
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