ACCT6006 - Costing for Small Business

Module Details

Module Code: ACCT6006
Title: Costing for Small Business
Long Title: Costing for Small Business
NFQ Level: Fundamental
Valid From: Semester 1 - 2022/23 ( September 2022 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 1 programme(s)
Module Description: This module focuses on the development of the concepts and principles of Cost Accounting. It is designed to provide learners with the tools to help them make business decisions. Managers/owners of small businesses need detailed information on their performance. This module will help them assess that information.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Evaluate the fixed and variable costs of a business.
LO2 Apply the concepts of budgeting in Cost Accounting.
LO3 Manage a business's working capital.
LO4 Recognise relevant costs for 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).
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
Costing
Fixed, variable and mixed costs. Break-even analysis.
Budgeting
Cash budgets and operational budgets as methods of control.
Working Capital
Manage accounts payable, accounts receivable and cash within a business.
Relevant Costing
Relevant costing for decision making
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Every Second Week Learning Outcomes 1,2,3,4
Assessment Description
In class examinations and lab work
Assessment Type Practical/Skills Evaluation % of Total Mark 30
Timing Every Second Week Learning Outcomes 2,4
Assessment Description
Excel based skills assessments
Assessment Type Practical/Skills Evaluation % of Total Mark 40
Timing Week 13 Learning Outcomes 1,2,3,4
Assessment Description
Canvas Quiz
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

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
Lab Contact Preparation accounts using MS Excel Every Week 1.00 1
Independent & Directed Learning (Non-contact) Non Contact Self practice of accounting questions and reading 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 practice of accounting questions and reading 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
  • Pauline Weetman. (2019), Financial and Management Accounting, 8th. Pearson, UK, [ISBN: 9781292244419].
  • Warren, Jones & Tayler. (2022), Financial and Managerial Accounting, 16th. Cengage, US, [ISBN: 9780357714041].
Supplementary Book Resources
  • Frank Wood and Alan Sangster. (2015), Frank Wood's Business Accounting 1, 13th. 29,30,31,34,45,47, Financial Times/Prentice Hall, New York, [ISBN: 0-273-68149-4].
  • Hilary Fortes. (2011), Accounting Simplified, Financial Times/Prentice Hall, [ISBN: 273734468].
This module does not have any article/paper resources
This module does not have any other resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BBTCO_7 Bachelor of Business in Business Technology and Communications 2 Mandatory