How should I study for this unit? The main focus of ACC2131 is to teach students different cost accounting techniques and encourage them to understand and apply these techniques in light of real-world practical examples. The final exam will be structured accordingly, with 50% devoted to calculative type questions and 50% devoted to testing your ability to apply and use these calculations in a real-life situation. That is, after all, what makes a good accountant and makes their jobs interesting. They are much more than boring bookkeepers; they are decision-makers and strategic analysts! Therefore, their job (and by extension what you are studying) can actually be quite interesting and exciting, but only if you let it….it’s all about the attitude you have towards it Would you prefer to be doing this? Or this? Working in a dynamic business Zzzzzzzzzzzzzzzzzzz!! environment on important decisions and strategies? So ….. what does this means for studying ACC2131? Take Case 2.41 from your text book. Within this question, parts 2 and 3 ask you to put together a cost of goods manufactured and sold, and an income statement. Important skills and knowledge to have as a cost accountant undoubtedly, but not the only set of skills you need to have! Therefore, parts 6 and 7 encourage reflection on the following: Evaluate the usefulness of product costs based on direct materials and direct labour for determining selling prices.
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