Management Information Exam Essentials

What Will You Learn?

• Classify costs correctly and apply the fundamentals of costing
• Calculate unit costs for materials and labour, including the valuation methods
• Apportion and absorb overheads, and deal with over- and under-absorption
• Reconcile marginal and absorption costing profit
• Apply pricing calculations, including cost-plus and target pricing
• Prepare and flex a budget, and forecast using the techniques the syllabus names
• Calculate working capital, its cycle, and the ratios that describe it
• Apply performance measures and interpret what they say about a business
• Calculate and interpret standard costing variances, and reconcile back to actual profit
• Apply breakeven analysis and work through limiting factor decisions
• Appraise an investment using payback, accounting rate of return, NPV and IRR
• Complete a twenty-mark pro-forma statement box by box, as the real paper requires