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Applied Knowledge

Management Accounting_ACCA_Applied Knowledge

A The nature, source and purpose of management information 

1. Accounting for management 

2. Sources of data 

3. Cost classification 

4. Presenting information 

B Data analysis and statistical techniques 

1. Sampling methods 

2. Analytical techniques in budgeting and forecasting 

3. Summarising and analysing data 

4. Spreadsheets 

C Cost accounting techniques. 

1. Accounting for material, labour and overheads 

2. Absorption and marginal costing 

3. Cost accounting methods 

4. Alternative cost accounting principles 

D Budgeting 

1. Nature and purpose of budgeting 

2. Budget preparation 

3. Flexible budgets 

4. Asset budgeting and investment appraisal 

5. Budgetary control and reporting 

6. Behavioural aspects of budgeting 

E Standard costing 

1 Standard costing system 

2. Variance calculations and analysis 

3. Reconciliation of budgeted and actual profit 

F Performance measurement 

1. Performance measurement - overview 

2 Performance measurement - application 

3 Cost reductions and value enhancement 

4. Monitoring performance and reporting



Financial Accounting_ACCA_Applied Knowledge

A The Context and purpose of financial reporting 

1. The scope and purpose of financial statements for external reporting 

2. Stakeholders’ needs 

3. The main elements of financial reports 

4. The regulatory framework 

5. Duties and responsibilities of those charged with governance 

B Accounting principles, concepts and qualitative characteristics 

1. The qualitative characteristics of financial information 

 2. Qualitative characteristics of useful financial information 

C The use of double-entry and accounting systems 

1. Double-entry book-keeping principles including the maintenance of accounting records 

2. General ledger accounts and journal entries 

D Recording transactions and events 

1. Sales and purchases 

2. Cash 

3. Inventories 

4. Tangible non-current assets 

5. Depreciation 

6. Intangible non-current assets and amortisation

7. Accruals expenses (accruals), prepaid expenses (prepayments), accrued income, and deferred income 

8. Receivables and payables 

9. Provisions and contingencies 

10. Capital structure and finance costs 

E Reconciliations 

1. Bank reconciliations 

2. Trade payables account reconciliations 

F Preparing a trial balance 

1. Trial balance 

2. Correction of errors 

3. Suspense accounts 

G Preparing financial statements 

1. Statement of financial position 

2. Statement of profit or loss and other comprehensive income 

3. Disclosure notes 

4. Events after the reporting period 

5. Statement of cash flows (excluding partnerships 

H Preparing basic consolidated financial statements 

1. Subsidiaries 

2. Associates 

I Interpretation of financial statements 

1. Importance and purpose of analysis of financial statements 

2. Ratios 

3. Analysis of financial statements