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 will be launching a microcredential on Financial Accounting later this year.
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.