Full Title:Cost Accounting
Module Code:ACCT B7Z08
 
Credits: 5
Valid From:Semester 1 - 2013/14 ( September 2013 )
Module Delivered in 2 programme(s)
Module Description:no description provided
Learning Outcomes:
On successful completion of this module the learner should be able to
  1. Distinguish between management and financial accounting, explain key terminology and classify costs by type/behaviour.
  2. Distinguish between different methods of material pricing and record material movements in the stores ledger.
  3. Identify key inventory control issues and calculate inventory control levels.
  4. Analyse overheads, calculate overhead absorptions rates and under/over recovery of overhead.
  5. Explain how a standard costing system operates, calculate basic variances and reconcile budgeted and actual profit.
 

Module Content & Assessment

Indicative Content
Introduction to Management Accounting and Cost Classification
Management versus Financial Accounting, Cost Classification - Direct, Indirect, Prime, Marginal, Absorbed, Fixed, Variable, Semi-Fixed, Semi-Variable, Relevant, Irrelevant.
Materials Pricing
Issue of Material Pricing, Material Pricing Methods - LIFO, FIFO and weighted average - Characteristics and calculation.
Inventory Control
Inventory control issues, Calculation of control levels - EOQ, minimum level, maximum level and re-order point. Assumptions of EOQ model. Factors other than the EOQ determining order quantity.
Absorption Costing
Departmental versus blanket rates, Overhead analysis, Calculation of overhead absorption rates and under/over-recovery of overhead.
Standard Costing: Variance Analysis
Logic of standard costing system, calculate and explanation of basic variances including materials, labour, overhead and sales variances, reconciliation report.
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%

Full Time

Course Work
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Class Test Mid-term assessment to provide feedback to students on progress to-date. 1,2,3 30.00 0 0 n/a 0
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Formal Exam End-of-Semester Final Examination 1,2,3,4,5 70.00 0 0 End-of-Semester 0
Reassessment Requirement
A repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload & Resources

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 3.00 Every Week 3.00
Directed Reading No Description 3.00 Every Week 3.00
Independent Study No Description 3.00 Every Week 3.00
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2.00 Every Week 2.00
Directed Reading No Description 4.00 Every Week 4.00
Independent Study No Description 3.00 Every Week 3.00
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 2.00
Resources
Recommended Book Resources
  • Gail Sheppard 2011, Management Accounting - A Practical Approach, 1st Ed., Gill and Macmillan [ISBN: 9780717149964]
Supplementary Book Resources
  • Colin Drury 2011, Cost and Management Accounting - An Introduction, 7th Ed., Centage Learning [ISBN: 9781408032138]
  • Peter Atrill and Eddie McLaney 2012, Management Accounting for Decision Makers, 7th Ed., Pearson [ISBN: 9780273762263]
  • John Dyson 2010, Accounting for non-Accounting Students 4th. Ed 1997 ISBN 0273 62575 6, 8th Ed., Pearson [ISBN: 9780273722977]
  • T. Lucey 2009, Costing, 7th Ed., Centage Learning [ISBN: 9781844809431]
This module does not have any article/paper resources
Other Resources
  • n/a: Accounting Institutes Websites
  • n/a: Accounting Institute Journals
  • n/a: Harvard Business Review
  • n/a: Business Week
  • n/a: The business section of newspapers

Module Delivered in

Programme Code Programme Semester Delivery
DK_BBSMA_D Bachelor of Business in Business and Management 3 Mandatory
DK_BBSMA_C(?) Higher Certificate in Business in Business and Management 3 Mandatory