ACCT06021 2022 Management Accounting Fundamentals 1
Full Title
Management Accounting Fundamentals 1
Transcript Title
Management Acc Fundamentals 1
Code
ACCT06021
Attendance
N/A %
Subject Area
ACCT - Accounting
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Caroline McNulty, John Gaynor, Beatrice Flavin, Riona Lyons, Helen Grady
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting
SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment
SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting
SG_BFINA_B07 202200 Bachelor of Business in Finance and Investment
SG_BFINA_B07 202200 Bachelor of Business in Finance and Investment
Description
Introduces students to the principles and techniques of management accounting including their application in business situations.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Explain the nature of cost and management accounting.
2.
Identify the cost elements consumed during production and the efficient use of these resources
3.
Calculate unit costs and apply overheads using absorption costing principles.
4.
Apportion and allocate costs to units of production in job, batch, and service costing systems.
5.
Communicate information individually or in teams using written, visual, and numerical forms.
Teaching and Learning Strategies
This module will be delivered through weekly class-based lectures. The lectures will include open discussion, practice of practical course elements, in-class group work and self-study
Module Assessment Strategies
Excel assessment
Moodle quiz e.g. MCQ/WIRIS
Final written examination - Must be a supervised examination in person or online proctored
Repeat Assessments
Excel assessment
Moodle quiz e.g. MCQ/WIRIS
Final written examination - Must be a supervised examination in person or online proctored
Module Dependencies
Prerequisites
None
Co-requisites
Non
Incompatibles
None
Indicative Syllabus
L01. Explain the nature of cost and management accounting.
- Differences between management accounting and financial accounting
- Changing business environment
- Characteristics of management accounting information
- Management accounting terminology
- Cost classification
- Cost behaviour
L02. Identify the cost elements consumed during production and the efficient use of these resources.
- Inventory control using economic order quantity and just in time
- Inventory pricing
- Inventory tracking
- Labour cost classification
- Labour cost control
- Time based pay versus payment by performance
L03. Calculate unit costs and apply overheads using traditional absorption costing and activity-based costing principles.
- Overhead’s classification
- Absorption costing
- Activity-based costing
- Predetermined overhead absorption rates
L04. Apportion and allocate costs to units of production in job, batch, and service costing systems.
- Costing methods
- Specific order costing including job costing and batch costing
- Continuous operation costing including output costing and service costing
L05. Communicate information individually or in teams using written, visual, and numerical forms.
- Effective communication of management accounting information
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Continuous Assessment Written assessment including and/or theoretical questions or project | Coursework Assessment | Assessment | 30 % | Week 8 | 1,2,5 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam Written exam including numeric and/or theoretical questions | Final Exam | Closed Book Exam | 70 % | End of Term | 1,2,3,4 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Flat Classroom | Lectures | 4 | Weekly | 4.00 |
| Independent Learning | Not Specified | Personal study time | 3 | Weekly | 3.00 |
Total Full Time Average Weekly Learner Contact Time 4.00 Hours
Required & Recommended Book List
Required Reading
2011 Management Accounting Gill Education
ISBN 071714996X ISBN-13 9780717149964
2011 Management Accounting Gill Education
ISBN 071714996X ISBN-13 9780717149964
This text presents strategic and traditional management accounting topics and, where appropriate, revision questions will compare approaches of both methods. Beginning with learning objectives, each chapter is example driven, introducing basic concepts and leading to more complex examples.
Required Reading
2021 MANAGEMENT ACCOUNTING - STUDY TEXT.
ISBN 1787408558 ISBN-13 9781787408555
2021 MANAGEMENT ACCOUNTING - STUDY TEXT.
ISBN 1787408558 ISBN-13 9781787408555
Required Reading
2021 MANAGEMENT ACCOUNTING - STUDY TEXT EPUB.
ISBN 1787409260 ISBN-13 9781787409262
2021 MANAGEMENT ACCOUNTING - STUDY TEXT EPUB.
ISBN 1787409260 ISBN-13 9781787409262
Module Resources
Non ISBN Literary Resources
Journal Resources
URL Resources
Other Resources
Cost and Management Accounting. Alice Luby. Gill & Macmillan. 1999
Additional Information
None