Lectures - communication of knowledge and ideas from the lecturer to the student. Problem solving exercises - student will work as part of a team to resolve various business scenarios. Class discussion/debate - students will be encouraged to actively participate in class sessions which will develop their analytical and communication skills. E-learning - the module will be supported with on-line learning materials. Self-directed independent learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim:
Cost and Management Accounting 2 builds on the techniques developed in Cost and Management Accounting 1. The aim of this module is to enable students to develop a knowledge and understanding of the role of cost and management accounting in business decision-making, planning and control and the ability to select, analyse and apply cost and 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 Higher Certificate in Accounting program.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1
Define and explain the key management accounting terms, concepts and practices for business decision-making, planning and control.
LO2
Identify and apply appropriate cost and management accounting techniques when presented with defined practical business problems.
LO3
Analyse and interpret results and outcomes within a management accounting framework and make recommendations.
LO4
Examine the tools and techniques that are used in the area of management accounting.
LO5
Develop practical work-based skills through the practical application of management accounting techniques in excel.
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 Marginal Costing
Cost behaviour.
High-low linear regression technique.
Concept of contribution.
Breakeven analysis (break-even point, margin of safety, target profit, contribution margin, profit-volume analysis).
Graphical CVP analysis.
Limitations of CVP analysis.
Practical excel application.
Marginal and Absorption Costing
Stock valuation using both systems.
Preparation of profit statements using both methods.
Comparison and reconciliation of profit under both methods.
The benefits and drawbacks of both methods.
Practical excel application.
Budgeting
Role and purposes of budgeting.
Budgeting administration and procedures.
Preparation of functional, cash and financial position budgets.
Budgeting approaches (incremental, rolling, zero-based, participative and imposed).
Criticisms of budgeting.
Practical excel application.
Budgetary Control
Budgetary control systems.
Flexible budgeting.
Flexible budget variances and interpretation.
Performance reports.
Practical excel application.
Assessment Breakdown
%
Continuous Assessment
70.00%
Practical
30.00%
Continuous Assessment
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Examination
Class Test / MCQ / Short Answer Questions
1,2,3,4
30.00
Week 4
Examination
Class Test / MCQ / Short Answer Questions
1,2,3,4
40.00
Week 8
No Project
Practical
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Practical/Skills Evaluation
Management Accounting Excel Assessment
2,3,5
30.00
Week 12
No End of Module Formal Examination
SETU Carlow Campus reserves the right to alter the nature and timings of assessment