Module Information
Course Delivery
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Exam | 3 Hours Exam | 60% |
| Semester Exam | 2 Hours Seen Exam / Test Topic known to student before the exam. | 40% |
| Supplementary Exam | 2 Hours Seen exam / test Topic known to student before entering the exam hall | 40% |
| Supplementary Exam | 3 Hours Supplementary Exam | 60% |
Learning Outcomes
On successful completion of this module students should be able to:
1. Review various roles of management accounting in social and organisational context.
2. Discuss various approaches to cost management in an operational context (including target costing, activity based management, business process re-engineering, total quality management and just-in-time methods) and evaluate their impact on accounting.
3. Examine the elements of strategic management accounting and discuss the different contributions that have been made to its development.
4. Explain and evaluate the various budgetary control systems and their use in practice, and advanced standard costing and variance analysis.
5. Explain, apply and evaluate the various divisional performance measures and their use in practice.
6. Explain the need for transfer pricing, and explain, apply and evaluate the various methods used for setting of transfer prices.
Brief description
This module explores, through literature review, theoretical issues and practical developments which impinge on management accounting practice, including the role of management accounting, cost management, budgeting, evaluating and managing performance and strategic management accounting. The module focuses on further developing management accounting decision making skills, with emphasis on uncertainty, and the evaluation of competitive advantage. The module examines the role of management accounting in strategic planning and control, and its linkage to strategic management, budgetary control systems, and various performance management and measurement frameworks.
Content
Budgetary systems and behavioral aspects of budgeting
Quantitative analysis in budgeting – cost estimation techniques and learning curves
Standard costing and advanced variance analysis (measuring mix, yield effects) and interpretation of variances.
RECENT DEVELOPMENTS AND EMERGING ISSUES IN MANAGEMENT ACCOUNTING PRACTICE
Activity Based Costing – application and critique
Budgeting in social and organizational context
Cost management issues and practice
Strategic management accounting
PERFORMANCE MANAGEMENT AND MEASUREMENT
Measuring divisional performance
Transfer pricing and divisional evaluation
Contemporary performance management and measurement frameworks – Balanced Score card, Value based management
Performance management in not-for-profit organizations
OTHER MANAGEMENT ACCOUNTING ISSUES
Forecasting techniques – linear programming
Cost estimation and cost planning
Dealing with risk and uncertainty in decision making – expected values and decision trees
Environmental management accounting
Module Skills
| Skills Type | Skills details |
|---|---|
| Application of Number | Develop an easy familiarity with numerical data sources and numerical data. Apply numerical data to problem solving with care and accuracy. Assess the reasonableness of and interpret numerical solutions. Support assertions/arguments with appropriately developed and presented numerical data. Calculate and use descriptive statistics. |
| Communication | Develop confidence in and clarity of oral communication via example class/tutorial participation. Develop clarity and focus of written communication via development of answers to tutorial questions. Develop and use appropriate subject-specific vocabulary in oral and written communication. |
| Improving own Learning and Performance | Identify and distil the key issues covered by lectures and tutorials. Identify and use a range of learning resources. Investigate benefits of small group working on tutorial preparation. Structure study to accommodate intensive learning. |
| Information Technology | Use a variety of electronic web- and library-based resources to review available information and retrieve pertinent information. Use software (Excel) to complete elements of the tutorial questions (e.g., spreadsheets for ease of tabulated numerical calculations, production of summary statistics, production of graphs, etc.) |
| Personal Development and Career planning | Develop skills in management costing and decision makin which are essential to the aspiting management accountant. Identify a variety of potential career routes within the accounting professional services sector. |
| Problem solving | Identify the precise problem to be solved. Assess which data are pertinent to the problem. Recognize that alternative solution methods might be available. Select and apply appropriate methods for solving the problem.. Assess the reasonableness of problem solutions and interpret those solutions. |
| Research skills | Develop basic information accessing and reaching skills. Properly reference/attribute information sources. Select the most pertinent information for retrieval. Retrieve information. Re-assess the pertinence and assess the credibility of retrieved information. |
| Subject Specific Skills | Develop competence in understanding and appropriately applying modern management accounting techniques in practice. Understand, analyze, interpret and synthesize between financial accounting, management accounting and market-based financial information. Make well-based financial recommendations and decisions. Bring financial analysis and decision making skills to the service of the business – in strategizing, marketing, operating, etc. |
| Team work | Develop experience of team work and develop team working skills via small group working on tutorial preparation.. |
Notes
This module is at CQFW Level 6