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  • Flexible Schedule
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  • Online Video-Based Learning
  • Flexible Schedule
  • Expert Trainers with Industry Experience
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  • Interactive Learning Materials

Overview

The Managing Costs and Finance (MA2) Course is tailored for individuals seeking to deepen their understanding of cost accounting and financial management. Designed for aspiring finance and accounting professionals, this course focuses on equipping learners with the ability to manage costs, prepare budgets, and support financial decision-making processes. 

This course emphasises mastering cost behaviours, budgeting techniques, and performance evaluation methods that are crucial for effective organisational operations. Learners will explore how to apply financial principles in practical settings, ensuring they add value to business performance. 

Part of the foundational ACCA suite, this course builds expertise in cost management, budget preparation, and financial performance analysis. These skills empower learners to progress to advanced levels of study and pursue dynamic roles in financial and management accounting. 

 

Course Objectives 

 

  • Develop a solid understanding of cost classification, cost behaviour, and accounting techniques 

  • Gain proficiency in preparing budgets and managing financial resources effectively 

  • Master the analysis of financial performance and cost control mechanisms 

  • Build competence in supporting financial decision-making with accurate data analysis 

  • Learn to apply ethical considerations in cost and financial management 

Upon completion, learners will possess the essential knowledge and skills to contribute effectively to cost and financial management functions, providing a robust foundation for further ACCA qualifications and a thriving career in finance. 

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Average completion time

1 Month
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Blended Learning

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Course Includes

  • Expert-led Sessions
  • Digital Delegate Pack
  • 24/7 Tutor Support
  • Downloadable Resources & Challenges
  • Interactive Learning
  • Exercise Files
  • Scenario-Based Learning

Course Details

Develop your understanding of essential financial, business and management accounting techniques with ACCA Applied Knowledge. You'll learn basic business and management principles and the skills required of an accountant working in business.

Entry Requirements

    • Educational Background: No prior accounting or finance experience is necessary. However, a basic understanding of mathematics and logical reasoning will support learners in navigating the course content effectively. 

    • Language Proficiency: Learners should possess a good command of English, as all course materials, assessments, and interactions are conducted in English. 

    • Interest in Business and Finance: This course is ideal for individuals keen to understand how cost and financial data drive strategic decisions and for those aiming to advance their qualifications with ACCA. 

Learning Outcomes

    • Understand Costing Principles: Learn to identify, classify, and analyse costs, enabling effective financial planning and resource optimisation. 

    • Develop Budgeting Skills: Gain practical expertise in preparing, managing, and forecasting budgets, emphasising their impact on organisational performance. 

    • Evaluate Financial Performance: Master variance analysis and performance measurement techniques to assess and enhance organisational efficiency. 

    • Build a Strong Foundation for Further Learning: Acquire essential skills and knowledge to progress to advanced ACCA qualifications, focusing on cost management and financial strategy. 

Target Audience

    The Managing Costs and Finance (MA2) Course is ideal for learners seeking to enhance their skills in cost and financial management or begin their journey towards a professional qualification in finance. Below are the roles and individuals who can benefit from this course: 

    • Aspiring Accountants 

    • Finance Assistants 

    • Cost Analysts 

    • Budgeting Officers 

    • Business Analysts 

    • Junior Finance Managers 

    • Accounts Clerks 

Course content

    Module 1: Accounting Principles, Concepts, and Characteristics

    • Key principles, concepts, and characteristics of accounting

    • Maintaining financial records

    • The regulatory framework
       

    Module 2: Principles and Process of Double-Entry Bookkeeping

    • Elements of financial statements

    • Recording financial data and the flow of accounting information in the production of financial statements
       

    Module 3: Preparation of Journal Entries and General Ledger Accounts

    • Preparation of journal entries

    • Preparation of general ledger accounts
       

    Module 4: Recording Transactions and Events

    • Sales and purchases

    • Cash and bank

    • Inventories

    • Tangible non-current assets and depreciation

    • Accrued expenses (accruals), prepaid expenses (prepayments), accrued income and deferred income

    • Receivables, payables, and provisions

    • Capital and finance costs
       

    Module 5: Reconciliations

    • Bank reconciliation

    • Trade payables account reconciliation
       

    Module 6: Preparing a Trial Balance and Correcting Errors

    • Preparing a trial balance

    • Correction of errors using manual journal entries
       

    Module 7: Preparing Financial Statements

    • Preparation of financial statements, including incomplete records
       

    Module 8: Partnerships

    • Partnership agreement

    • Partnership accounting records

    • Partnership financial statements and changes in partnership

MPES Support That Helps You Succeed

At MPES, we offer comprehensive support to help you succeed in your studies. With expert guidance and valuable resources, we help you stay on track throughout your course.

  • MPES Learning offers dedicated support to help you succeed in Accounting and Finance courses.
  • Get expert guidance from tutors available online to assist with your studies.
  • Check your eligibility for exemptions with the relevant professional body before starting.
  • Our supportive team is here to offer study advice and support throughout your course.
  • Access a range of materials to help enhance your learning experience. These resources include practice exercises and additional reading to support your progress.

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Have Questions? We’ve Got You

If you have any questions, we’re here to help. Find the answers you need in the MPES detailed FAQ section.

Q. What is the ACCA Maintaining Financial Records course about?

The course covers foundational bookkeeping concepts, focusing on recording financial transactions and producing accurate financial statements. It equips delegates with essential skills to manage financial records effectively, adhering to professional standards and practices.

Q. Who should attend this course?

This course is tailored for individuals in bookkeeping, accounts, or finance roles. It is ideal for those aiming to improve their financial recording skills, particularly entry-level professionals looking to build a solid foundation in accounting.

Q. What will I learn from this course?

Delegates will gain expertise in recording, processing, and managing financial transactions. The course also teaches the preparation of financial statements, ensuring compliance with accounting principles and offering valuable insights into financial management.

Q. Can I pursue this course without prior accounting experience?

Yes, this course is designed for beginners and does not require prior accounting experience. It provides a comprehensive introduction to bookkeeping and financial records, making it accessible to individuals new to the field.

Q. What career opportunities does this course offer?

Completing this course opens doors to roles such as bookkeeper, accounts assistant, or financial administrator. It also lays the groundwork for further ACCA studies, advancing career growth in accounting and finance.

Q. What key skills will I develop in this course?

You will gain essential skills in recording financial transactions, maintaining accurate financial records, and understanding double-entry bookkeeping principles. The course also focuses on preparing financial statements for sole traders and partnerships. 

Q. What topics are covered in this course?

The course covers areas such as the principles of accounting, the role of financial reporting, bookkeeping methods, preparation of journals and ledgers, bank reconciliations, and the extraction of trial balances. 

Q. Is this course suitable for beginners in accounting?

Yes, the course is ideal for individuals who are new to accounting or finance and want to build a strong foundation in maintaining financial records. It is also suitable for those looking to formalise their bookkeeping knowledge. 

Q. What type of support is available during the course?

Learners have access to tutor support, detailed course materials, and practice exercises. Additionally, resources such as online forums are available to enhance understanding and engagement. 

Q. How can this course benefit my career?

Completing the Maintaining Financial Records (FA2) Course can improve your employability by equipping you with recognised accounting skills, preparing you for roles such as bookkeeper, accounts assistant, or finance administrator. It also serves as a stepping stone to advanced accounting qualifications. 

Q. What is the Managing Costs and Finance (MA2) course about?

The course provides comprehensive knowledge of cost accounting and financial management principles, teaching learners to manage costs, prepare budgets, and analyse financial performance, essential for organisational decision-making and strategic planning. 

Q. Who is this course suitable for?

This course is designed for aspiring Accountants, Finance Professionals, and individuals keen to develop expertise in cost management and financial planning, particularly those aiming to pursue higher-level ACCA qualifications or finance roles. 

Q. Are there any prerequisites for this course?

No prior accounting or finance experience is required. However, a basic understanding of mathematics and logical reasoning, along with proficiency in English, will help learners navigate the course material effectively. 

Q. How does this course contribute to a finance career?

It equips learners with essential cost and financial management skills, enabling them to support organisational decision-making and prepare for advanced ACCA qualifications, opening pathways to dynamic roles in finance and management accounting. 

Q. What materials and support are provided?

Learners will receive comprehensive study materials, practical exercises, and access to professional support, ensuring a thorough understanding of cost management principles and their application in real-world scenarios. 

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Resources

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Course Schedule

Course Schedule