Business Management: Fundamentals of Management Accounting

This microcredential is available from the Open University. It will help you to understand how accounting management contributes to a successful company.

Learn best practices in management accounting to inform your professional decision-making. You will learn new skills that will improve your ability to solve business problems and adapt your approach.

This microcredential will equip you with the ability to analyze information, calculate costs, prepare a budget for planning control purposes, and evaluate costing methods in order to make financial decisions.

This course is for non-financial professionals and will help you understand and use management accounting terminology.

To help you face any challenges, you'll be able to study business problems in a variety of contexts and sectors. This could include determining the price your company should charge to develop a product or analyzing how much revenue it will generate.

You'll be able immediately to apply the knowledge you have gained to your work by the end of this microcredential.

Accounting can be divided into management and financial accounting. Management accounting is an internal process that records business transactions. It is designed to help decision-makers within an organisation make informed business decisions. Financial accounting is the collection of accounting data in order to create financial statements.

Open University also offers a microcredential in Non-Financial Accounting for Financial Roles. This course is complementary and will equip you with the knowledge you need to interpret and evaluate financial statements, rather than build them. It will allow you to make informed business decisions.

Accounting skills are essential in planning for the future. These skills will help you to set goals and provide data-driven input that can be used to make business decisions.

Learners based in Northern Ireland may be eligible for fully-funded places. Applications for funding places close at 1 October 2021. We recommend that you apply for funded places as soon as you can because there are limited spots. More information: https://www.open.ac.uk/courses/choose/skill-up