I don't take into account the mass but do the same thing.
Code:
void PlayerShip::Thrust()
{
m_vecVel.x -= (sinf(m_Angle)*1.5f);
m_vecVel.y += (cosf(m_Angle)*1.5f);
}
void PlayerShip::Update(float fTimeDelta)
{
m_vecPos.x += (m_vecVel.x * fTimeDelta);
m_vecPos.y += (m_vecVel.y * fTimeDelta);
...
The - and + in Thrust() are to align my coordinates.
BTW you should probably divide by mass since a large mass in that posted equation will result in a large overall velocity which is inverse of what should really happen.
It's F=ma but in this case we are trying to find out the acceleration, not the force. The force being applied is the thrust vector. So the result is A= F/m.