Business Management: Fundamentals of Management Accounting

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.

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.

Throughout the course you’ll take part in weekly activities to support and consolidate your learning. At the end of the course, you’ll submit an assessment which is marked and graded with personalised feedback, by subject matter experts.

Learn from experts at The Open University

This microcredential has been created by experts from The Open University’s Business School. Its academics have vast experience in the delivery of online business modules, in fact it is one of only 100 business schools in the world to hold the ‘triple crown’ of triple-accredited status with EQUIS, AACSB and AMBA. Fewer than 1% of all business schools worldwide have been awarded this accreditation.

Discover more of The Open University’s Business and Management microcredentials – designed to provide you with key leadership and management skills that will set you up for career success.

Choose from Financial Accounting for Non-Financial Roles, Marketing Principles and Practice, Improving Organisational Practice, Project Management and People Management and Leadership.

Courses under this program:
Course 1: Business Management: Fundamentals of Management Accounting
-Develop your accounting skills and knowledge to help you make better business decisions and achieve your professional goals.