Objectives, scope and framework of management accounting; role and purpose of management accounting; management accounting and the business environment; ethical guidelines and challenges; cost terminology, concepts and classification; cost accumulation for inventory valuation and profit measurement; cost behaviour and analysis; cost-volume-profit relationships; cost-estimation methods; learning curve and non-linear cost functions; cost systems and design choices; job costing; activity-based costing and management; inventory costing and capacity analysis; variable versus absorption costing debate; information for planning and control; management control systems; organisational and social aspects of management accounting; responsibility accounting and the master budget; kaizen budgeting; activity-based budgeting; flexible budgets; standard costing and variance analysis.