Module Information

Module Identifier
Module Title
Academic Year
Semester 2
Other Staff

Course Delivery

Delivery Type Delivery length / details
Lecture 20 hours
Seminars / Tutorials 5 tutorials


Assessment Type Assessment length / details Proportion
Semester Exam 2 Hours   Unseen written examination  80%
Semester Assessment Assessment  20%
Supplementary Exam 2 Hours   Unseen written examination  100%

Learning Outcomes

On successful completion of this module students should be able to:

* Explain the purpose of accounting in an organisatin and its different uses for internal as well as external purposes and compare the various 'branches' of accounting, namely cost accounting, management accounting and financing accounting.

* Explain the changing circumstances that have affected organisations and the role of cost and management accounting.

* Explain and classify the various cost items by element, by function and by behaviour.

* Explain the uses of, and calculate, overhead absorption rates in the context of absorption costs.

* Explain the differences and uses of absorption costs vs. those of marginal costings.

* Explain and apply cost-volume-profit techniques.

* Explain and apply relevant cost techniques and the contribution concept in selected decision-making scenarios.

* Explain the budgeting process and the uses and types of budgets in organisations.

* Explain the role of budgeting within an organisation and the implication for budgetary control.

* Evaluate budgetary systems such as fixed and flexible, zero based and incremental, periodic, continuous and activity based.

* Develop, implement and coordinate budgeting systems: functional, subsidiary and master budgets (including cash budgeting).

* Understand the principles of standard costing.

* Identify and calculate variances for sales, materials, labour, variable overheads and fixed overheads; absorption and marginal approaches.

* Understand the causes of variances.

* Prepare the basic operating statements; interpret and apply them to business performance.

* Describe the nature and scope of working capital management.


The aim of this module is to provide students with the basic knowledge of cost and management accounting practices and their applications within organisations. This involves the provision and interpretation of information to assist managers in planning, controlling, taking decisions and appraising performance.

Brief description

This module is intended to provide students with a basic understanding of cost and management accounting concepts and their application within organisations.


  • Context and proposes of cost and management accounting
  • Cost terms and concepts
  • Absorption and marginal costing
  • Cost volume profit analysis
  • Relevant costs in short-term decision-making
  • Budgeting process and budgets in organisations
  • Standard costing and variances
  • Working capital management

Transferable skills

The module also aims to assist students to develop their personal transferable skills by encouraging them to
  • Identify and distil key issues covered be lectures
  • Develop basic information accessing and researching skills and
  • Discriminate between relevant and irrelevant information for the purpose of decision-making


This module is at CQFW Level 4