ACCA MA study plan
ACCA MA · Give each week a clear focus.
8 weeks · About 7 hours per week
Cost and management accounting techniques
Classify 20 given costs by nature, by behaviour and by purpose, and justify each classification in one line
Compute closing inventory value and cost of sales under FIFO and weighted average (AVCO), then reconcile the difference between the two methods
Calculate gross and net pay including overtime premium, idle time and a group bonus scheme
Allocate and apportion overheads across production and service cost centres, then compute and apply a predetermined absorption rate (direct labour hour and machine hour bases)
Your checkpoint
A one-page overhead absorption schedule showing original cost, reapportioned service centre cost, absorption rate and absorbed overhead per unit, plus a 20-item classification quiz scored at 80% or better
Cost and management accounting techniques
Prepare process accounts covering normal loss, scrap proceeds, abnormal loss and abnormal gain, and carry the balances forward correctly
Reconcile budgeted profit under marginal costing with profit under absorption costing and state the exact inventory movement that explains the difference
Select the appropriate costing method (job, batch, contract) for three described scenarios and compute the value of work in progress and attributable profit on a contract
Explain activity based costing, target costing, life cycle costing and throughput accounting, and compute a throughput accounting ratio for a bottleneck resource
Your checkpoint
A complete three-process costing question (including abnormal loss and closing WIP) solved to a single reconciled cost of finished output, plus a marginal-versus-absorption profit reconciliation with the inventory effect quantified
Standard costing
Compute material price and usage variances, labour rate and efficiency variances, and variable overhead expenditure and efficiency variances
Compute fixed overhead expenditure, volume, capacity and efficiency variances and explain how the four interlock
Prepare a full operating statement reconciling budgeted profit to actual profit through every variance calculated
Diagnose the likely operational cause of six given variances and label each as controllable or non-controllable at the level of the responsible manager
Your checkpoint
One complete variance operating statement in which every individual variance is listed and the final line equals the actual profit figure, accompanied by written causes for four of the variances
Budgeting
Build a sales budget, production budget, material usage and material purchases budget from a given demand and inventory policy
Construct a monthly cash budget and identify the month of peak funding requirement and its amount
Flex a budget to actual activity level and reconcile the fixed budget to the flexed budget
Compare incremental, zero-based, top-down and bottom-up budgeting, and state one behavioural consequence of each
Your checkpoint
A six-month integrated budget pack (production, purchases, labour and cash) with the peak overdraft month and amount stated, plus a timed 30-question mixed test scored at 70% or better
Budgeting & Management information
Separate fixed and variable cost elements using the high-low method and linear regression, and forecast cost at a stated activity level
Compute a four-point moving average and a seasonal index, then produce a seasonally adjusted forecast for two future periods
Calculate and interpret a simple and a chain base index number for a cost series
Distinguish data from information and match five management information needs to an internal or external source, a format and a reporting frequency
Your checkpoint
A forecasting worksheet containing a high-low calculation, a moving average with seasonal index and a two-period forecast, plus a half-page written interpretation of the reliability of each forecast
Management information
Describe how cost accounting and information systems capture, store and report transactions, and trace one transaction from source document to management report
Explain the spreadsheet functions used for costing and budgeting work and state three control weaknesses of uncontrolled spreadsheet models
Evaluate the effect of big data, cloud systems and automation on the role and outputs of the management accountant
Identify the qualitative characteristics that make information useful and apply them to two contrasting reports
Your checkpoint
A one-page mapping table linking five user information needs to source, format and frequency, each row justified in one sentence, plus a 20-question quiz scored at 80% or better
Performance measurement
Compute profitability, liquidity, efficiency and gearing ratios from a supplied summarised statement of financial position and income statement, and interpret the trend across two years
Evaluate two divisions using return on investment and residual income and explain how each measure can distort a manager's decision
Construct and interpret four non-financial performance indicators for a service organisation and link each to a strategic objective
Apply the four perspectives of the balanced scorecard to a described business and propose one measure per perspective
Your checkpoint
A two-page performance report on a scenario company containing ten calculated ratios with trend commentary and two specific, evidence-based recommendations
Management information & Cost and management accounting techniques & Budgeting & Standard costing & Performance measurement
Complete two full-length timed mocks under exam conditions and record the mark for each domain separately
Rework every incorrect question and record the root cause as knowledge gap, calculation slip or misread requirement
Reconstruct from memory the variance formulae, the budget construction sequence and the overhead absorption proforma without notes
Re-attempt the two weakest domains using a 15-question targeted set per domain
Your checkpoint
Two completed mocks at 75% or better overall with no domain below 60%, supported by an error log listing every wrong answer with its root cause and the corrective action taken