F2 Management Accounting

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F2 Management Accounting

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Rational
Introduction to
Principle & techniques Cost behaviour Decision making

F2 Management Accounting

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Syllabus
APM (P5)

PM (F5)

MA (F2)

F2 Management Accounting

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Topics
Nature and purpose of management accounting Cost classification and behaviour Business mathematics Cost accounting techniques Budgets and standard costing Short tem decision-making

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Nature and purpose of management accounting

Introduction to management accounting Management accounting V Financial accounting Data Versus Information

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Cost classification and behaviour

Direct & Indirect Variable & Fixed

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Business mathematics
Uncertainty & Risk Regression analysis Correlation

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Cost accounting techniques

Materials - LIFO/FIFO Labour Overheads Absorption/marginal costing Process costing

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Budgets and standard costing

Types of budget Variance analysis

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Short tem decision-making

CVP - breakeven analysis Limiting factors Relevant costs

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Exam structure
Two hour paper/computer based Computational/non-computational 40 two mark questions 10 one mark questions

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Exam approach
Prepare and practice Time management
Less than 90 seconds a mark

Answer the question asked Answer all questions

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Answering questions
Multiple choice The good
Exclude incorrect answers

The bad
Examine all aspects

Never leave a question unanswered

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Computational
The selling price of a product is 80 per unit. Fixed costs are 99,000 and it has a contribution to sales ratio of 45%. It plans to sell 4,00 units per month. What is the margin of safety in units
1250 1750 2250 2750
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F2 Management Accounting

Understanding
Which of the follwoing is NOT a feasible value for the correlation coefficient
+1.4 +0.7 0 -0.7

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Theory
Which of the following describes a flexible budget
Shows production costs only Is changed to reflect the number of days in the month Shows sales and revenues at different activity levels Periodicaly updated

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Presentation approach
Exam focused
Theory plus examples

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Presentation breakdown
Intrduction to management accounting and cost classification Business mathematics Accounting for materials and labour Accounting for overheads Absorption versus marginal costing CVP Analysis
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Presentation breakdown
Process/batch/job costing Budgeting Standard costing and variance analysis Relevant costing Limiting fctors

F2 Management Accounting

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