This unit gives students an introduction to the principles of basic costing and builds a solid foundation in the knowledge and skills required for more complex costing and management accounting tasks. Students will learn the importance of the costing system as a source of information that allows management to plan, make decisions and control costs.

Percentage contribution of this unit to the overall qualification grade: 20%.

Learning outcomes

  • Understand the cost recording system within an organisation.
  • Use cost recording techniques.
  • Provide information on actual and budgeted cost and income.
  • Use tools and techniques to support cost calculations.