Module Details
| Module Code: |
ACCT7011 |
| Title: |
Finance: Planning and Control
|
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Long Title:
|
Finance: Planning and Control
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| NFQ Level: |
Intermediate |
| Valid From: |
Semester 1 - 2022/23 ( September 2022 ) |
| Field of Study: |
3440 - Accounting, Auditing and Accountability
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| Module Description: |
This module will introduce management students to some of the most important techniques and models used by management accountants to aid with planning, control and decision making.
|
| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| # |
Learning Outcome Description |
| LO1 |
Explain the role of the management accountant and outline how management accounting has evolved. |
| LO2 |
Describe basic cost behaviour and apply cost, volume and profit analysis. |
| LO3 |
Construct product costing models such as traditional overhead costing and activity based costing methods. |
| LO4 |
Explain the budgeting process and prepare the various budgets. |
| LO5 |
Analyse and apply the various planning and control models in order to aid management with decision making. |
| Dependencies |
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
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Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
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| No incompatible modules listed |
Co-requisite Modules
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| No Co-requisite modules listed |
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
|
| No requirements listed |
| Indicative Content |
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Introduction to management accounting
Understanding what management accounting is. Understanding the role of the management accountant in the modern organisation.
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Cost, Volume & Profit Analysis.
Cost Behaviour and the various cost types. Cost, Volume & Profit Analysis: Calculate break-even points by distinguishing between fixed and variable costs. Calculate margins of safety, target profits and perform sensitivity analysis. Use break-even analysis to aid decision making.
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Overheads and cost allocation methods
Traditional Absorption Costing and Activity Based Costing methods for overheads analysis and apportionment. Performing detailed overheads analysis on a given scenario.
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Budgeting
The budget process and detailed budget preparation. Cash budgets and mixed budgets (production budgets, materials use and materials purchases budgets).
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Relevant Costing
Prepare calculations to help mangers make timely decisions.
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Module Content & Assessment
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| Assessment Breakdown | % |
|---|
| Coursework | 100.00% |
Assessments
| No End of Module Formal Examination |
| Reassessment Requirement |
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
|
The University reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Formal lecture |
Every Week |
2.00 |
2 |
| Tutorial |
Contact |
Discussion / Practical demonstration |
Every Week |
1.00 |
1 |
| Independent & Directed Learning (Non-contact) |
Non Contact |
Self study |
Every Week |
4.00 |
4 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
3.00 |
| Workload: Part Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Formal lecture |
Every Week |
2.00 |
2 |
| Directed Learning |
Non Contact |
Self Study |
Every Week |
5.00 |
5 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
|
Module Resources
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| Recommended Book Resources |
|---|
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Peter Atrill and Eddie McLaney. (2021), Management Accounting for Decision Makers, 10th. 1,2,3,4,5,6,7,, Pearson, [ISBN: 1292349530].
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Colin Drury. (2021), Management and Cost Accounting, 11th. 1,2,8,9,10,11,15,16, 23, Cengage Learning EMEA, [ISBN: 1408041804].
| | Supplementary Book Resources |
|---|
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Pauline Weetman. (2010), Management Accounting, 2nd. Financial Times/Prentice Hall, p.566, [ISBN: 0-273-70199-1].
| | Recommended Article/Paper Resources |
|---|
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Byron Henry and Margaret Hicks. (2015), A Survey of Perspectives on the Future
of the Accounting Profession, The CPA Journal, August 2015, p.612,
| | This module does not have any other resources |
|---|
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