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.
- 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.
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, budgeting, 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.
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 functions of the Management Accountant;
Elements of cost and cost classification;
Financial and management accounting contrasted.
Accounting for Material and Labour
Stores procedures and documentation; Pricing stores issues (FIFO, LIFO, AVCO),Stores card; EOQ Model;
Labour Costs, Inflated Wages.
Overheads Costs
Overhead absorption method using the traditional approach; Overhead analysis sheet; Blanket overhead absorption rates;
Departmental overhead absorption rates;
Calculation and interpretation of under absorption and over absorption; Absorption of non-production overheads.
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 Volume Profit Analysis
Distinction between fixed, variable and semi-fixed costs;
Linear analysis of total cost using high low technique;
Mathematical CVP techniques ;
Practical applications of CVP analysis in decision-making; Limitations of CVP analysis.
Marginal and Absorption Costing Systems
Stock valuations and preparation of profit statements using both systems; Comparison of both systems.
Budgeting
The purpose of budgeting; The Budgeting process, including functional and cash budgets; Behavioural aspects of budgeting.
Assessment Breakdown
%
Continuous Assessment
40.00%
End of Module Formal Examination
60.00%
Continuous Assessment
Assessment Type
Assessment Description
Outcome addressed
% of total
Assessment Date
Examination
Class Test
1,2,3
20.00
Week 5
Examination
Class Test
1,2,3
20.00
Week 9
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
60.00
End-of-Semester
SETU Carlow Campus reserves the right to alter the nature and timings of assessment