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This free course, Challenges in advanced management accounting, focuses on strategic management accounting and selected concepts and techniques. It will help you to successfully navigate mid- to long-term challenges to creating sustainable organisations. This OpenLearn course requires a prior understanding of basic management accounting approaches.
After studying this course, you should be able to:
- understand and describe strategic management accounting
- make decisions based on customer profitability using activity costing
- incorporate risk and uncertainty in project appraisal.
- Current section: Introduction
- Learning outcomes
- 1 Strategic management accounting
- 2 Strategic customer analysis
- 3 Principles of project appraisal
- 3.1 Relevant cash flows and sunk costs
- 3.2 The time value of money, discounting and present value
- 3.3 Why does the value of money depend on time?
- 3.4 Using the WACC as the discount rate for a project
- 3.5 Problems with using the WACC as the discount rate for a project
- 3.6 Using the CAPM to find a project-specific cost of equity
- 3.7 Problems with using the CAPM to find a project-specific cost of equity
- 3.8 Using a spreadsheet to model project evaluation
- 4 Dealing with risk and uncertainty in project appraisal
- 4.1 Risk and uncertainty
- 4.2 Simple adjustments to deal with increased risk
- 4.3 Using probability and future cash flows to deal with risk
- 4.4 Modelling sensitivity analysis
- 4.5 The value of information
- 5 End-of-course exercises
- Keep on learning
Study this free course
Enrol to access the full course, get recognition for the skills you learn, track your progress and on completion gain a statement of participation to demonstrate your learning to others. Make your learning visible!
Challenges in advanced management accounting
This free course focuses on selected challenges for organisations that management accounting concepts and techniques may be useful to address. The aim is to develop an understanding of some strategic approaches that contribute to the successful navigation of mid- to long-term challenges to create sustainable organisations. This is an advanced free course that requires a prior understanding of basic management accounting approaches.
This OpenLearn course is an adapted extract from the Open University course
Copyright & revisions
Originally published: Thursday, 11th February 2016
Last updated on: Thursday, 11th February 2016
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements and our FAQs section.
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