F2 Management Accounting

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*1. What is a Relevant Cost?* A relevant cost is a cost that: Will happen in the future, and Will be different depending on the decision you make. So remember: Relevant = Future + Different between alternatives Example A company is deciding whether to make a component itself or buy it from another company. If making it costs Rs.100,000 and buying it costs Rs.130,000, the Rs.100,000 and Rs.130,000 are relevant if those amounts are future costs that change with the decision.

*Example* A company sells three products: Product A Product B Product C Financial Accounting says: Total Profit = $500,000 That's useful, but limited. Management Accounting says: Product A Profit = $300,000 Product B Profit = $180,000 Product C Loss = $20,000 Now management can decide whether to improve or discontinue Product C.

*Comparison Table* Financial Accounting, Management Accounting External users, Internal managers Past information, Past + Present + Future Follows accounting standards, No fixed format Prepared yearly or half-yearly, Prepared whenever needed Company-wide, Department, product, customer, or project specific Mandatory, Usually optional General information, Detailed information

*Management Accounting* The coach studies: Why did we win? Which player performed best? Why did we concede one goal? What should we improve before the next match? The coach's analysis is Management Accounting.

*The Biggest Difference* Think of a football team. Financial Accounting The newspaper reports: "Team won 3-1." That's all.

*What is Management Accounting?* Management Accounting prepares information for internal managers. Managers use it to: Plan Control Make decisions Improve performance It helps answer questions like: Should we launch a new product? Should we stop making Product A? Why did costs increase? Which department is inefficient?

Uzbek students join to this channel https://t.me/accauzbekistana

Discussion groups for all ACCA papers ACCA Uzbekistan for uzbek students f1 Business and Technology F2 Management Accounting F3 Financial Accounting F4 Corparate and Business Law F5 Performance Managment F6 Taxation Global F7 Financial Reporting F8 Audit and Assurance F9 Financial Managment P1 Stratagic bussines lider P2 Strategic Business Reporting P3 Business Analysis P4 Advanced Financial Managmemt P5 Advanced Performance Managment P6 Advanced Taxation P7 Advanced Audit and Assurance Diploma in International Financial Reporting (DipIFR).

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