Accounting II (ACC 1011) Course Overview 2025

A Comprehensive Guide to Managerial Accounting II

Students pursuing management must take into consideration the practical aspects of accounting which can be accomplished via completing Accounting II (ACC 1011), an integrated course which takes the accounting fundamentals a notch higher. Internal decision-making of a business enterprise requires numerous accounting systems to be in place and managed properly; ACC 1011 focuses on all of them in detail. Some of the new constructs that students will be learning include cost accounting systems, budgeting, cost management, and even investment decisions. Fortunately, because this is also how businesses are run and organised, this course covers the interplay between accounting and decision-making.

Accounting II Course Description

Accounting II (ACC 1011) offers an insight into planning and control functions of internal accountants. There is a consistent business flow that can be represented in the form of cycle which includes analysing, recording, classifying, and summarising the results of business activities financially; importantly, this cycle has to be aimed at improving the performance of the business. There exist a variety of concepts that we will study during this short course such as investment decision-making, cost accounting systems, cost management, budgeting and numerous other concepts. As students complete the course, their scope of managerial accounting will have expanded substantially thus allowing students to use what they learnt in practical situations gradually.

Key Topics Covered in Accounting II ACC 1011

Cost Accounting Systems: Students understand how businesses accumulate and allocate costs for various goods and services which is vital for pricing, determining profitability, and making decisions.
Cost Management Systems: In this course, students learn to cope with other tools and methods of controlling costs, managing the use of resources, and increasing the effectiveness of an organisation.
Planning and Control Systems: Students study the purpose of accounting data in the planning, monitoring, and control of the business so that certain financial benchmarks are met.
Decision Making: Students of this course will appreciate the utilisation of accounting information in the decision-making processes such as investment decisions, cost containment decisions, and budgeting.

Accounting II Course Objectives

Students will have completed this Accounting II (ACC 1011) class after:

Identify the Function of Managerial Accounting: Managerial accounting is much more than recording the financial transactions of the entity. It assists managers in making decisions by providing them with relevant financial information which they need for planning and controlling operations. This course familiarises students with the different functions of managerial accounting, including but not limited to, cost allocation, budgeting, and performance measurement.

Analyse the Different Aspects of Budgeting and Its Impact on Organisations: Budgeting is one of the key areas of managing a business. In this unit, students will consider the role of budgeting in helping organisations forecast and appropriately allocate funds and resources, and how organisations monitor financial performance. Students will also examine the concept of budgetary control and its relevance to decision-making within an organisation’s various levels.

Identify Components of the Accounting Equation: The accounting equation that states Assets = Liabilities + Equity, is key to interpreting business transactions and must pass the test with flying colours. This unit provides further insights into the application of accounting equations in the real business environment to ensure that correct and balanced financial records are kept and the financial reports are credible.

Describe Investment Centres and the Process of Transfer Pricing: Investment centres are sections of the company that expand to make money and also have control over certain assets. In this unit, students will learn about the various measurements of performance of investment centres, as well as the use of transfer pricing in cost and revenue distribution among different departments or divisions in an organisation.

Recognise Liabilities and Their Function in Accounting: Liabilities are a debt for a business organisation. In ACC 1011, learners will learn about the short and long-term liabilities as well as their relevance in the financial statements. Students will appreciate how such liabilities can positively or negatively affect the financial decisions of a firm.

Discuss in Detail Job Order Costing, Process Costing Systems and Profit Systems: Job order costing as well as process costing are the two most significant deductive systems used in firms that are introduced to students in ACC 111. The amount of cost that is put into a process and then allocated into products which were made as well as services rendered will be understood by learners. Other than the two forming one of the most significant parts in a firm, a small centre doing profit analysis on a business’s built costing structure and pricing strategies will also be acquired.

Accounting II ACC 1011 Syllabus Breakdown

The topics that the ACC 1011 syllabus encompasses are vast and equip students with the necessary skills and understanding of whether or not the principles of accounting are applicable to management tasks. Below is a detailed elaboration of the major topics that are covered in the course to aid understanding.

Aim of Managerial Accounting: Develop an understanding of the similarities and dissimilarities of financial and managerial accounting with regards to its functions.

Cost Classification: Classifications were done to determine fixed costs, variable costs and mixed costs and the effect these costs have on business decisions.

Cost Volume Profit Analysis: A study that emphasises more on the relationship between changes in cost and volume to profitability and the use of that information in making decisions.

Budgeting and Risk Management: Designing and assessing a variety of budgets and evaluating success by analysing the differences.

Standard Costing and Activity-Based Costing (ABC): Having insight into how businesses implement standard costing and ABC systems for cost determination and control.

Capital Budgeting and Investment Decisions: Exploring capital investment options and making capital investment decisions based on NPV and IRR capital budgeting methodologies.

Performance Evaluation and Transfer Pricing: Determining the efficiency of departments, segments, and divisions’ activities, and the relevance of transfer pricing to all the decisions made internally.

Job Order and Process Costing Systems: Examining various methodologies of cost accumulation in businesses to facilitate cost allocation to products and services.

Why is Accounting II ACC 1011 Important?

Accounting II (ACC 1011) is important for those intending to work in finance, management, or accounting programmes. A few explanations for its importance include the following:

Practical Knowledge: The course equips students with knowledge that they can execute in the practical world of business. In either a corporate firm or a small business, cost control, budgeting and financial management is essential for rational decisions to be made.

Decision-Making Skills: Students learn how to utilise accounting information in making decisions that will enable development and profit for a firm. This is most important for managers allocating around duties in resource usage and operating expenditures.

Career Advancement: Understanding the principles covered in ACC 1011 helps students get prepared for jobs such as cost analyst, financial manager, and management accountant. This course helps those who want to move into the field of corporate finance or management.

Comprehensive Understanding: Also, ACC 1011 is helpful in students’ understanding of internal and external reporting for finance which is extremely important while working in or with finance departments, accounting practices as well as businesses aimed at accurate financial reporting.

Conclusion

As earlier pointed out, Accounting II (ACC 1011) brings in a variety of management accounting skills, knowledge, techniques and practices that go hand in hand with financial accounting. The course also covers topical issues in business such as costing, budgeting, as well as merging of economic areas. The knowledge acquired through this course facilitates position decision making in businesses, which countries are choosing to develop in the area of finance and management.

Study Solutions