UNIVERSITY OF GLASGOW
ACCFIN1007 Management Accounting 1: A Business Decision Emphasis
Credits: 20  
Comprehensive Revision Guide and Course Notes 2025 
 
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University of Glasgow - ACCFIN1007: Management Accounting 1

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ACADEMIC YEAR 2024 - 2025

University	University of Glasgow
Course Code	ACCFIN1007
Course Name	Management Accounting 1: A Business Decision Emphasis
Notes Title	Comprehensive Revision Guide and Course Notes
Page Length	119

If you are studying for ACCFIN1007 Management Accounting 1: A Business Decision Emphasis at the University of Glasgow, this concise guide and practice test set is a must-have. You do not need to be an expert in the module, you just need a basic understanding and be able to quickly recall the information that you learn. You can use these notes as a reference, to understand the topics better and improve your grades in the final exam. This updated exam preparation guide helps you identify your weak areas, so you will pass the final exam on your first attempt.

ACCFIN1007 - Management Accounting 1: A Business Decision Emphasis introduces students to the key concepts and techniques of management accounting and their practical applications in business decision-making. The course explores how management accounting supports both short-term and strategic decisions by providing relevant financial and non-financial information. It highlights the distinctions between management and financial accounting, and examines how tools such as cost accounting, budgeting, and performance measurement are used to guide and evaluate decisions within organisations. Students will also learn how inventory management methods, including Just-in-Time (JIT), influence operational efficiency and decision-making.

By the end of the course, students will be able to explain the role of management accounting in various business contexts and distinguish it from financial accounting. They will understand cost accounting methods, their classifications, and their relevance to business activities. The course also develops students’ ability to apply management accounting techniques—such as Activity-Based Costing (ABC), budgeting (including flexible budgets), standard costing, and variance analysis—to make informed short-term and long-term decisions. Through this, students will gain practical skills in cost management, inventory control, and performance evaluation to support effective business planning and strategy.

COURSE CODE	COURSE NAME
ACCFIN1001	Introduction to Business Reporting and Financial Accounting
ACCFIN1003	Finance 1
ACCFIN1004	Financial Accounting 1
ACCFIN1006	Introduction to Management Accounting and Control
ACCFIN1016	Introduction to Finance, Investments and Institutions
ACCFIN2002	Finance 2
ACCFIN2003	Financial Accounting 2
ACCFIN2018	Statistical Analysis and Methods
ACCFIN4010	Capital Markets and Portfolio Management
ACCFIN4040	Derivative Securities
ACCFIN4070	Corporate Finance
ACCFIN4079	Econometric Methods for Accounting and Finance
ACCFIN4081	Financial Management
ECON1001	Economics 1A
ECON1002	Economics 1B
ECON2001	Economics 2A
ECON2002	Economics 2B
ECON4003	Econometrics 1: Introduction to Econometrics
ECON4004	Econometrics 2: Multiple Regression and Applications
MGT1025	Current Topics in Marketing

University of Glasgow - ACCFIN1007: Management Accounting 1

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