Registry
Module Specifications
Current Academic Year 2012 - 2013
Please note that this information is subject to change.
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| Description | |||||||||||||||||||||||||||||||||||||||||||||
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The purpose of this module is to introduce students to the study of management accounting and to foster their ability to apply basic principles, concepts and techniques of management accounting to routine organisational scenarios. The module introduces students to the role of management accounting in organisations and addresses the topics of cost classification, budget setting, basic variance analysis, CVP analysis and product costing. The module is delivered via lectures and tutorials. | |||||||||||||||||||||||||||||||||||||||||||||
| Learning Outcomes | |||||||||||||||||||||||||||||||||||||||||||||
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1. Explain the nature, scope and role of management accounting in organisations 2. Classify and categorise costs appropriately for different cost objects 3. Appraise planning scenarios and prepare appropriate budgets 4. Compare actual performance to budgeted performance and calculate basic variances 5. Apply the CVP model to routine decision-making scenarios 6. Determine product/service costs using traditional costing approaches 7. Present accounting information in a manner appropriate for users | |||||||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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| Indicative Content and Learning Activities | |||||||||||||||||||||||||||||||||||||||||||||
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Introduction to management accounting (these issues will permeate the coverage of all topics in the module). The nature of management accounting; the differences between and, overlap of, management accounting and financial accounting; contribution of management accounting to overall management of organisations; the inter-disciplinary nature of management accounting; the dynamic internal and external operating environment of management accounting; the range of organisations in which management accounting plays a role- profit making v not-for-profit organisations; characteristics of management accounting information; designing management accounting systems. Cost information. The nature of costs; cost objects; the purpose of cost classification; alternative cost classifications including cost behaviour, elements of manufacturing costs, period v product costs, controllable v uncontrollable costs, incremental costs, sunk costs and opportunity costs. Planning: An introduction to budget setting. The role of management accounting in organisational planning and control; key aspects of the planning and control activities of management accountants; the role of budgets in planning and control; benefits of budget setting; administration of budget setting; preparation of functional budgets, cash budgets and the master budget.. Control: An introduction to variance analysis. The concept of control; the role of the flexible budget; preparing flexed budgets and calculating and interpreting price and efficiency variances for materials, labour and variable overhead.. Routine decision making: CVP Analysis. The role of management accounting in organisational decision-making; key aspects of the decision making activities of management accountants; application of the CVP model - break-even analysis including multi-product situations, profit-volume ratio, graphs, sensitivity analysis.. An introduction to product costing. The role of management accounting in product costing for inventory valuation; the demands of external reporting; the elements of product costs – materials (including materials pricing methods), labour and overhead; manufacturing overhead absorption using traditional approaches and including service department reallocations; determination of basic product costs using both absorption and variable costing approaches.. | |||||||||||||||||||||||||||||||||||||||||||||
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| Indicative Reading List | |||||||||||||||||||||||||||||||||||||||||||||
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| Other Resources | |||||||||||||||||||||||||||||||||||||||||||||
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| AF | BA in Accounting & Finance | ||||||||||||||||||||||||||||||||||||||||||||
| Timetable this semester: Timetable for AC121 | |||||||||||||||||||||||||||||||||||||||||||||
| Date of Last Revision | 24-JAN-12 | ||||||||||||||||||||||||||||||||||||||||||||
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