The main focus of the classes will be the completion of practical exercises. These exercises will provide the student with an understanding and an ability to complete relevant accounting scenarios. Students will also be provided with relevant theory to support the practical work and deepen the understanding of the concepts covered.
Module Aim:
The aim of this module is to provide students with the knowledge and skills to prepare management accounting information on product costing, control and decision making.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1
Interpret and advise on prepared relevant budgets and variances
LO2
Conduct decision making techniques including absorption and marginal costing.
LO3
Analise decision making techniques including cost volume profit analysis.
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.
No requirements listed
Module Content & Assessment
Indicative Content
Costing Methods
• Job and batch costing
• Contract costing
• Process costing
- Treatment and effect of scrap and waste
- Abnormal gains and losses
Cost Volume Profit Analysis and Decision Making
• • Contribution
• Fixed and variable costs
• Graphical analysis
• Margin of safety
• Cost volume profit assumptions
• Marginal costing and absorption costing
• Relevant costs
• Make or buy decisions
• Limiting factors