Module catalogue: AC4053

AC4053 - Management Accounting Fundamentals (2026/27)

Module specification

Module approved to run in 2026/27

Module title

Management Accounting Fundamentals

Module level

Certificate (04)

Credit rating for module

School

Guildhall School of Business and Law

Total study hours

150

105 hours	Guided independent study
9 hours	Assessment Preparation / Delivery
36 hours	Scheduled learning & teaching activities

Assessment components

Type	Weighting	Qualifying mark	Description
Examination	100%		Unseen exam (2 hours)

Running in 2026/27

(Please note that module timeslots are subject to change)

No instances running in the year

Module summary

The concepts and methods of management accounting are introduced to students in this module, with a focus on employability, digital literacy (including artificial intelligence), ethical awareness, and teamwork—all of which are essential skills for business analysts and professional accountants.
The module aims to establish a foundation for students to grasp the essential knowledge and techniques that form the basis of management accounting.
You will cover the following key areas of management accounting:
• Cost classification and behaviour
• Tools and techniques for planning, control, and decision-making
• Techniques for short-term decision-making
• Capital investment appraisal methods

The module has the following aims:
1. You will explain the function of management accounting and how costs are classified based on output, activity level, and decision-making.
2. You will prepare overhead cost statements to determine the total costs of products, services, and activities.
3. You will apply break-even analysis in short-term decision-making.
4. You will understand the short-term decision-making techniques such as Make or Buy, Shutdown, Accept/Reject, and Pricing.
5. You will calculate simple variances for effective cost control.
6. You will develop essential analytical skills to evaluate financial information and make informed management decisions.

Syllabus

1 The purpose & scope of management accounting LO1 (Foundational knowledge, ethical responsibilities)
2 Cost terms, concepts & classifications LO1 (Conceptual understanding), LO2 (Costing skills)
3 Cost behaviour & estimation LO2 (Cost analysis), LO3 (Spreadsheet modelling)
4 CostVolumeProfit (CVP) analysis LO2 (Decision tools), LO3 (Digital modelling), LO4 (Communication clarity)
5 Job costing & process costing systems LO2 (Costing application), LO3 (Model building), LO4 (Collaboration in labs)
6 ActivityBased Costing (ABC) LO1 (Conceptual critique), LO2 (Decision relevance), LO4 (Professional scepticism)

Balance of independent study and scheduled teaching activity

Scheduled teaching activity is a weekly two-hour lecture and a one-hour seminar. Independent study is supported by practical seminar questions, past exam questions, practice questions in the recommended textbooks and past examination papers with suggested solutions on the websites of ACCA and CIMA. Relevant learning resources will be available on Weblearn.

The course instructor is available outside class during office hours. Students will be fully supported in the preparation of the written exam. There will be regular opportunities for feedback and opportunity for formative assessment during the Reading Week.

Learning outcomes

On successful completion of this module, students will be able to:

LO1. Show a solid understanding of management accounting principles and ethical obligations, emphasising how internal cost and performance data aids in organisational control and decision-making. You should also be aware of how artificial intelligence (AI) can either assist or challenge traditional accounting jobs.
.

LO2. Learn how automation and artificial intelligence (AI) may help routine calculations, scenario modelling, and decision support by applying fundamental management accounting tools and techniques to assess and solve business challenges using data-driven approaches.

LO3. Develop professional technological skills and digital flexibility by using digital tools, such as spreadsheets and new AI apps, to organise, analyse, and convey financial and non-financial data.

LO4. Collaborate effectively in teams and communicate accounting concepts clearly to both technical and non-technical audiences while exhibiting critical thinking, ethical awareness, and a responsible attitude towards new technology, such as artificial intelligence.

Bibliography

Reading List Talis Link:
https://rl.talis.com/3/londonmet/lists/BBAD634D-4563-8FC6-6F93-4757194677B2.html

Textbooks:

Core textbook
Management Accounting, W Seal, Rohde, C, R H Garrison and E W Noreen, 6th Edition, McGraw Hill, 2019.

Other Texts
Management Accounting, P Weetman, FT Prentice Hall, 2010.