ACCT6027 - Mgmt Accounting for Business

Module Details

Module Code: ACCT6027
Title: Mgmt Accounting for Business
Long Title: Management Accounting for Business
NFQ Level: Fundamental
Valid From: Semester 2 - 2021/22 ( January 2022 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 1 programme(s)
Module Description: This module provides students with an introduction to the concepts, bases and methodologies of cost and management accounting focusing on aspects associated with running a business.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe the role of the management accountant and the uses of management accounting information.
LO2 Describe cost types and behaviours and apply calculations to estimate different cost types.
LO3 Calculate costs and selling prices and discuss various pricing methods, both individually and in collaboration with peers.
LO4 Explain the concept of break-even analysis and apply this knowledge to relevant scenarios, both individually and in collaboration with peers.
LO5 Prepare budgets and projections relevant to the operation of a business.
LO6 Explain the concept of overheads and perform a detailed overhead analysis of a company.
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
The Role of the Management Accountant in an Organisation
An introduction to the role of the management accountant in an organisation. The uses and users of management accounting information. Corporate social responsibility and the role of the management accountant. Future developments in management accounting.
Cost Types and Cost Behaviour
Types of costs and cost behaviour patterns. Distinguishing cost types using the high low method.
Costs and Pricing
Price elasticity of demand. Pricing methods. Calculating total cost. Calculating selling price using mark-up and margin.
Cost, Volume, Profit Analysis (C.V.P. Analysis)
Examination of the relationship between cost, volume and profit and break-even analysis in business.
Budgeting
Preparation of cash flow projections relevant to the operation of a business. Projected cash budgets and financial statements.
Overhead Allocation and Activity Based Costing
Overhead absorption costing. Activity based costing as an alternative to absorption costing.
Module Content & Assessment
Assessment Breakdown%
Coursework40.00%
End of Module Formal Examination60.00%

Assessments

Coursework
Assessment Type Project % of Total Mark 40
Timing Week 8 Learning Outcomes 1,2,3,4
Assessment Description
Group project focusing on the calculation and presentation of the costs, prices and breakeven analysis of a new product.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 60
Timing End-of-Semester Learning Outcomes 1,2,3,4,5,6
Assessment Description
End of Semester Formal Exam
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 4.00 4
Independent & Directed Learning (Non-contact) Non Contact Review Theory and Practical Questions 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 Every Week 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Review Theory and Practical Questions Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Gail Sheppard. (2011), Management Accounting - A Practical Approach, 1st. Gill & Macmillan, [ISBN: 9780717149964].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_FHEBU_8 Bachelor of Arts (Honours) in Home Economics and Business 4 Mandatory