MTU Courses - ACCT6002 - Cost Accounting

Module Details

Module Code:	ACCT6002
Title:	Cost Accounting
Long Title:	Cost Accounting
NFQ Level:	Fundamental
Valid From:	Semester 1 - 2016/17 ( September 2016 )

Duration:	1 Semester

Credits:	5

Field of Study:	3440 - Accounting, Auditing and Accountability

Module Delivered in:	7 programme(s)

Module Description:	This module provides students with an introduction to the concepts of cost and management accounting which focuses on the analysis of costs associated with running businesses.

Learning Outcomes
On successful completion of this module the learner will be able to:
#	Learning Outcome Description
LO1	Distinguish between management and financial accounting
LO2	Explain the nature of costs
LO3	Record costs and apply different techniques of cost compilation
LO4	Evaluate and apply cost control techniques

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).

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.
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. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed

Indicative Content
Management Accounting Distinguish between management and financial accounting, describe the role of the management accountant and how it has evolved in recent years
Cost Concepts Types of costs: variable and fixed, direct and indirect, overhead and prime cost
Recording Costs The cost of material as well as stock control, labour and different methods of remuneration, overheads classification, allocation, apportionment and absorption
Cost Compilation Job and Process costing

Assessment Breakdown	%
Module Content & Assessment
Coursework	30.00%
End of Module Formal Examination	70.00%

Assessments

Coursework

Assessment Type	Short Answer Questions	% of Total Mark	30
Timing	Week 7	Learning Outcomes	1,2,3
Assessment Description Multiple choice/short answer questions

End of Module Formal Examination

Assessment Type	Formal Exam	% of Total Mark	70
Timing	End-of-Semester	Learning Outcomes	1,2,3,4
Assessment Description End-of-Semester Final 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 lectures with worked examples	Every Week	4.00	4
Independent & Directed Learning (Non-contact)	Non Contact	Published articles and research	Every Week	3.00	3
Total Hours					7.00
Total Weekly Learner Workload					7.00
Total Weekly Contact Hours					4.00

Workload: Part Time
Workload Type	Contact Type	Workload Description	Frequency	Average Weekly Learner Workload	Hours
Lecture	Contact	Formal Lecture with worked examples	Every Week	2.00	2
Directed Learning	Non Contact	Published articles and research	Every Week	5.00	5
Total Hours					7.00
Total Weekly Learner Workload					7.00
Total Weekly Contact Hours					2.00

Recommended Book Resources
Module Resources
Pauline Weetman. (2010), Management Accounting, Financial Times/Prentice Hall, p.566, [ISBN: 0-273-70199-1].
Supplementary Book Resources
CIMA. (2015), Fundamentals of Management Accounting, 2015. Kaplan Publishing, [ISBN: 784151089]. Gail Sheppard. (2011), Management Accounting: A practical guide, Gill and Macmillan, [ISBN: 717149964].
Supplementary Article/Paper Resources
Nottingham Trent University. (2105), Management accounting in support of the strategic management process, CIMA, Vol 11, p.20, http://www.cimaglobal.com/Thought-leader ship/Research-topics/Management-and-fina ncial-accounting/Management-accounting-i n-support-of-the-strategic-management-pr ocess/ Dr Michael Lucas,Mr Glynn Lowth and Professor Malcolm Prowle. (2013), Management accounting practices of UK SMEs, CIMA, Vol 9, Issue 4, p.13, http://www.cimaglobal.com/Thought-leader ship/Research-topics/Management-and-fina ncial-accounting/Management-accounting-p ractices-of-UK-SMEs/
This module does not have any other resources

Programme Code	Programme	Semester	Delivery
Module Delivered in
CR_BBUSS_7	Bachelor of Business	2	Mandatory
CR_BACCT_8	Bachelor of Business (Honours) in Accounting	1	Mandatory
CR_BACCT_7	Bachelor of Business in Accounting	1	Mandatory
CR_ECTWB_7	Bachelor of Science in Craft Technology (Wood) with Business	2	Mandatory
CR_ECTMS_7	Bachelor of Science in Craft Technology - Mechanical Services	2	Elective
CR_BBUSS_6	Higher Certificate in Business	2	Mandatory
CR_BACCT_6	Higher Certificate in Business in Accounting	1	Mandatory