By the end of the microcredential, you’ll be able to...
- Identify the need for accounting information when managing organisations.
- Prepare a budget for planning and control purposes.
- Calculate the cost of different types of products, processes and services.
- Interpret a variety of different types of information from different information sources.
- Evaluate and implement appropriate costing methods to make financial decisions.
You’ll have access to our online welcome area where you’ll be able to start conversations with fellow learners and read any announcements relating to your microcredential.
From 25 Oct 2021
Business Management: Fundamentals of Management Accounting
Develop your accounting skills and knowledge to help you make better business decisions and achieve your professional goals.
10 hours per week
Introduction to the course
- Welcome to the course
- What is accounting?
- Management accounting in organisations
- Organisational concerns
- Week 1 review
The importance of your studies of accounting and financial information
- Welcome to Week 2
- The need for financial information
- The uses of financial information
- Financial and operational management
- Accounting and organisations
- Week 2 review
Budgets for planning and control
- Welcome to Week 3
- What is a budget?
- Preparing a household budget
- Why do organisations prepare budgets?
- What are the key functions of budgets?
- Budgeting in your organisation
- Week 3 review
Practical budgeting for organisations
- Welcome to Week 4
- The control loop
- The budget method
- Preparing a budget for a new business
- Budgeting in a larger organisation
- Budgets and people
- Week 4 review
Measuring costs in organisations
- Welcome to Week 5
- Cost concepts and financial decision-making
- Cost structures and decision-making
- Costs and management functions
- Costs for decision-making
- Understanding direct and indirect costs
- Understanding the assessment
- Week 5 review
Contribution on break-even analysis
- Welcome to Week 6
- Absorption and contribution costing in practice
- Understanding the relevant range
- Break-even point in practice
- Break-even analysis and stepped costs in practice
- Week 6 review
Costing products and services
- Welcome to Week 7
- Thinking about costing and pricing
- Exploring contribution further
- Practical costing and pricing
- Absorption costing in the not-for-profit sector
- Activity-based costing
- An activity-based costing task
- Week 7 review
Cost Information and decision-making
- Welcome to Week 8
- Identifying relevant costs
- Assessing the viability of part of an organisation
- Making the best use of scarce resources
- Deciding if an organisation should outsource some of its operations
- Week 8 review
Cost information and decision-making
- Welcome to Week 9
- Determining selling prices
- Contribution costing and setting selling prices
- Costs and pricing
- Your assessment
- Week 9 review
Finalising and submitting your assessment
- Assessment overview
- Important guidance about your assessment
- Thank you and good luck!
Once you’ve successfully completed the microcredential, you’ll receive your academic credits from The Open University. You’ll also have ongoing, unlimited access to the course materials.
10 UK credits at Undergraduate level from The Open University
You’ll receive an Open University certificate confirming that you have received 10 academic credits at undergraduate level. Credits are awarded on passing the final assessment.
Find out how credits work and where you can use them in our FAQs.
The Open University (OU) is the largest academic institution in the UK and a world leader in flexible distance learning, with a mission to be open to people, places, methods and ideas.
LocationMilton Keynes, UK
World rankingTop 510Source: Times Higher Education World University Rankings 2020