Understanding Management Information

 Appreciate the importance of financial and non-financial information for planning, control and decision making purposes
 Recognize the variety of cost units, cost centers and profit centers
 Differentiate between direct and indirect costs; fixed and variable costs; period and product costs; controllable and uncontrollable costs; avoidable and unavoidable costs; etc
 Identify cost classification for decision-making and planning
 Appreciate cost behaviour patterns including linear, curvi-linear and step functions
 Appreciate the importance of unit costs