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CMA course

Level 3 Diploma in Cost and Management Accounting (VRQ)

Course Overview

The overall aim of this qualification is to accredit candidates’ knowledge and understanding of the fundamental principles concerned in the determining the cost of labour, materials and overheads so as to accurately ascertain the cost price and selling price of goods and/or services.
Within the qualification, candidates have the opportunity to gain knowledge of the need for companiess to prepare reports for management and to be able to understand the outcome of those reports. Candidates will also be able to calculate Gross Pay and Employer Wages Costs, and complete the necessary calculations associated with Stock Valuation and other material costs. Candidates will also be able to develop the skills necessary to prepare for the calculation of any variance from cost price to selling price and in usage and labour, and more complex calculations relating to Stock. Finally, the candidate will be able to prepare analysis of the way the company is performing.


To be awarded the qualification, candidates are required to successfully demonstrate their competence by means of two external examinations. Candidates will receive acknowledgement of successful completion of the qualification.


Unit 1 : Cost Accounting Financial Accounting & Management Accounting
Unit 2 : Job and Batch Costing
Unit 3 : Contract Costing & Process Costing
Unit 4 : Manufacturing Account and Trial Balance with Adjustment
Unit 5 : Short and Long Term Decisions
Unit 6 (A) : Profit Target and Profit Volume Ratio
Unit 6 (B) : Payback and Discount Cashflow
Unit 7 : Cost Center and Code Materials
Unit 8 : Methods of Stock Valuation
Unit 9 : Labour Costing
Unit 10 : Absorption and Marginal Costing
Unit 11 : Standard Costing and Costing
Unit 12 : Cash Flow and Budget