Module Title:Management Accounting for Accounting Degree Students
Language of Instruction:English
Credits: 10
NFQ Level:7
Module Delivered In 3 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various business scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. E-Learning - The module will be supported with on-line learning materials. Self-Direct Independent Learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: The aim of this module is to enable students to develop a knowledge and understanding of the role of management accounting in business management, and the ability to select, analyse and apply management accounting techniques in typical business situations. The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to a B.A. (Honours) in Accounting program.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Define and explain the key terms, concepts and practices for costing products and services, budgeting, budgetary control and decision making.
LO2 Identify and apply appropriate management accounting techniques when presented with defined and undefined practical business problems;
LO3 Analyse and interpret results and outcomes within a management accounting framework and make recommendations.
LO4 Critically examine the tools and techniques that are used in the area of management accounting.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
Financial Accounting
 

Module Content & Assessment

Indicative Content
Introduction to Management Accounting
The nature and scope of management accounting. The relationship between management accounting and financial accounting. The role of the Management Accountant in a modern business environment including the recognition of possible ethical issues that may arise. Elements of cost and cost classification.
Material and Labour Costs
Stores procedures and documentation, including material requisition note. Pricing stores issues (FIFO, LIFO, AVCO, Replacement Cost and Standard Cost). Preparation of stores ledger card. Direct and Indirect Materials; Methods of remuneration including incentive schemes; Time recording; Analysing labour costs:
Overhead Costs
Introduction to overhead absorption. Blanket overhead absorption rates Departmental overhead absorption rates Allocation, apportionment and absorption of production overheads, including apportionment of service department costs and treatment of reciprocal services. Calculation and interpretation of under absorption and over absorption. Absorption of non-production overheads. Preparation of overhead analysis sheets and basic job costing for typical business situations using an excel spreadsheet.
Activity Based Costing (ABC)
Reasons for the development of ABC Calculating and applying overheads to products using the ABC technique Comparison of ABC and traditional overhead absorption methods
Cost Book-Keeping
Preparation of double entry records in a typical costing environment. Comparison of interlocking and integrated accounting systems.
Costing Methods
Job and batch costing Process costing including normal and abnormal losses, and work in progress. Joint and by-products. Application of costing methods to the service industry
Cost Volume Profit (CVP) Analysis
Distinction between fixed, variable and semi-fixed costs. Linear analysis of total cost using high low technique Mathematical and graphical CVP techniques (break-even, margin of safety, profit volume analysis, contribution/sales ratio). Practical applications of CVP analysis in assisting management planning and decision-making, including limiting factor decisions. Limitations of CVP analysis. Preparation of CVP models for typical business situations using an excel spreadsheet, and the application of “what if” analysis to the resulting model.
Marginal and Absorption Costing Systems
Stock valuation and preparation of profit statements using both systems. Reconciling results Both systems compared
Budgeting
The purpose of budgeting. Budgeting administration and procedures. Preparation of subsidiary, cash, and master budgets Behavioural aspects of budgeting Preparation of budgeting models for typical business situations using an excel spreadsheet, and the application of “what if” analysis to the resulting model.
Variance Analysis
Flexible budgeting Calculation and interpretation of variances in a flexible budgeting system. Standard costing. The procedures for setting standards and behavioural considerations. Calculation and interpretation of variances in a standard costing system. Preparation of budgetary control reports. Preparation of budgetary control models for typical business situations using an excel spreadsheet. Inputting actual data and calculating variances using this model.
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Examination Class Test / Project / Essay / Open-Book Examination / Case Study 1,2,3,4 7.50 Week 7
Practical/Skills Evaluation Management accounting techniques using Excel 2,3 7.50 Week 14
Examination Class Test / Project / Essay / Open-Book Examination / Case Study 1,2,3,4 7.50 Week 21
Practical/Skills Evaluation Management accounting techniques using Excel 2,3 7.50 Week 28
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 3.00
Practicals Every Week 1.00
Independent Learning Time Every Week 4.00
Total Hours 8.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 2.00
Independent Learning Time Every Week 6.00
Total Hours 8.00
 

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBACT_B Bachelor of Arts (Honours) in Accounting 2 Mandatory
CW_BBACF_B Bachelor of Business (Honours) in Accounting & Finance 3 Mandatory
CW_BBACF_B_OLD2 Bachelor of Business (Honours) in Accounting & Finance - Add on 3 Mandatory