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Level 3 Foundation Diploma in Accountancy

Management accounting versus financial reporting

AB302 · Management Information — Week 3 of 16

CourseAB302
Week3 of 16
SemesterI
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This week’s topics

Management accounting versus financial reporting

  1. Internal versus external user requirements
  2. Statutory regulations and GAAP
  3. Historical data versus forecasting
  4. Financial and Management Accounting
  5. Introduction to Financial and Management Accounting

What you will be able to do

  • 1.3 Compare cost and management accounting processes with those required for external financial reporting.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: compare cost and management accounting processes with those required for external financial reporting.

Study materials

Videos

  • Financial and Management Accounting · YouTube · Galton College · 19 min · for registered students
  • Introduction to Financial and Management Accounting · YouTube · Galton College · 30 min · for registered students

Further resources

  • Managerial Accounting, ch. 1: What Is Managerial Accounting? · PDF · Saylor Academy, textbook chapter; pp. 4–74 · for registered students
  • Principles of Accounting, Volume 1: Financial Accounting, ch. 1: Role of Accounting in Society · PDF · OpenStax, textbook chapter; pp. 25–66 · for registered students
  • Financial Accounting, ch. 2: What Should Decision-makers Know So That Good Decisions Can Be Made about an Organization? · PDF · Saylor Academy, textbook chapter; pp. 31–61 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Accounting systems in business organisations
  • Week 2: Purpose of management information
  • Week 3: Management accounting versus financial reporting
  • Week 4: Labour remuneration systems
  • Week 5: Accounting for labour costs
  • Week 6: Analysing gross and net earnings
  • Week 7: ICT applications in management information
  • Midterm: Midterm evaluation
  • Week 9: Factors influencing ICT adoption
  • Week 10: Evaluating ICT in management information
  • Week 11: Integrated management information review
  • Week 12: Applying Management Information in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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