ACCT06027 2022 Management Accounting 1
Full Title
Management Accounting 1
Transcript Title
Management Acc 1
Code
ACCT06027
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
06 - 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, Beatrice Flavin, Helen Grady, Kerry Dolan, Aileen Brennan
Programme Membership
SG_BBUSI_C06 202200 Higher Certificate in Business in Business Studies
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business
SG_BBUSS_B07 202200 Bachelor of Business in General Business
SG_BADMN_B07 202200 Bachelor of Business in Business Administration
SG_BBUSM_C06 202200 Higher Certificate in Business in Business Studies
SG_BBUSB_H08 202200 Bachelor of Business (Honours) in Business
SG_BBUSG_B07 202300 Bachelor of Business in General Business
SG_BADMN_C06 202200 Higher Certificate in Business in Business Administration
SG_BBUSE_C06 202400 Higher Certificate in Business in Business (exit)
SG_BBUSE_B07 202400 Bachelor of Business in Business (exit)
Description
The aim of this module is to introduce 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 and differentiate from financial accounting
2.
Identify and quantify material and labour resources consumed in production
3.
Evaluate the cost of producing a product or providing a service using absorption costing principles
4.
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
The assessment strategy will include:
- Moodle quiz e.g.MCQ/WIRIS (one - 30% or 2 - 15% quizzes in weeks 5-9 of the semester).
- Final written examination.
Repeat Assessments
The assessment strategy will include:
- Moodle quiz e.g.MCQ/WIRIS (one - 30% or 2 - 15% quizzes repeated in weeks in weeks 6-12 of the semester).
- Final written examination.
Indicative Syllabus
LO1 - Explain the nature of cost and management accounting and differentiate from financial accounting:
- Differentiate between management and financial accounting information;
- Define and classify various costs, their behaviour and graphical representation;
- Split mixed costs and predict future costs .
LO2 - Identify and quantify material and labour resources consumed in production:
- Calculate inventory levels and identify inventory holding and ordering costs;
- Derive inventory issue and closing valuations in various inventory control systems;
- Calculate labour cost under different systems;
- Define merits and drawbacks of different labour cost systems.
LO3 - Evaluate the cost of producing a product or providing a service using absorption costing principles:
- Overhead allocation and apportionment including secondary apportionment;
- Formulate overhead absorption rates;
- Calculate cost of job, batch and services.
LO4 - Communicate information individually or in teams using written, visual and numerical forms:
- Formative assessment;
- Problem solving in-class group work;
- Written assessment.
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 | Moodle quiz | Coursework Assessment | Assessment | 30 % | OnGoing | 1,2,3 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final written examination | 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 | 3 | Weekly | 3.00 |
| Tutorial | Flat Classroom | Tutorial | 1 | Weekly | 1.00 |
| 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
Recommended Reading
2011-04 Management Accounting: A Practical Approach Gill & Macmillan Ltd
ISBN 071714996X ISBN-13 9780717149964
2011-04 Management Accounting: A Practical Approach Gill & Macmillan Ltd
ISBN 071714996X ISBN-13 9780717149964
A comprehensive core text for management accounting which establishes the fundamental theories of all aspects of the subject before progressing to more in-depth exploration * Clear learning objectives, a strong focus on application and a large bank of questions and resources underpin the practical approach to management accounting * Presents strategic and traditional management accounting topics and, where appropriate, revision questions will compare approaches of both methods * Recent research work is mentioned where more strategic accounting techniques are explained, such as Activity Based Costing and Balanced Scorecard, encouraging students to explore topics further * End-of-chapter questions are of exam-standard as set by both third level institutions and accounting professional bodies in Ireland * Solutions are available to selected questions, with each solution listing key learning notes containing 'hints and tips' to aid the student - a feature unique to this book GO Online lecturers: PowerPoint slides, additional questions with worked solutions, multiples choice questions with answers and teaching aids are available on gillmacmillan.ie Go Online students: Worked solutions to end of chapter questions and additional questions are available on gillmacmillan. ie WRITTEN FOR Undergraduate students on business courses at degree level in Institutes of Technology and Universities Those studying for professional accounting qualifications
Module Resources
Non ISBN Literary Resources
Other Resources
Significant content for the module has been created by the lecturer and is available to the student on the Moodle platform .