Management Accounting 1

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the role of estimates, standards (and the causes of variations from standard) and budgets in the management control process and be able to calculate the relevant figures;
• the essence of management accounting and its limits;
• Rational long-term investment decisions based upon knowledge of the relevant appraisal techniques and critically evaluate such techniques.
• the relevance of different management accounting approaches in different situations;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Solve complex problems.
• Communicate complex ideas and arguments fluently and effectively in a range of different formats to a variety of different audiences.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Select, from the range of data available, those costs that are relevant to the present decision;
• Assess the role of management accounting as a facet of organisational control;
• Use different strategic decision-making approaches by which organisations seek to ensure their future effectiveness.
• Both recognise that management accounting is a developing discipline, and provide a critical analysis of the significance of relevant developments;

Topics to be covered will include (although not necessarily be restricted to):

• The contingency approach to Management Accounting
• Relevant cost analysis and short-term decision making
• Long-term decision making
• Absorption costing & activity-based costing (ABC)
• The budgeting process, standard costing and variance analysis

Lectures and Class Sessions

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Problem solving

• Assessment Type: Formative
• Feedback: Formative feedback will be provided during the lectures and classes on the students’ performance in problem solving exercises and multiple choice questions.
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.