Module Details

Module Code: ACCT B7Z08
Full Title: Cost Accounting
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction: 
Duration: 1 Semester
Credits:: 5
Module Owner:: Brian Boyd
Departments: Unknown
Module Description: no description provided
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Distinguish between management and financial accounting, explain key terminology and classify costs by type/behaviour.
MLO2 Identify key inventory control issues and calculate inventory control levels.
MLO3 Employ Cost Volume Profit ( CVP) and Relevant Costing techniques to enhance management decision making
MLO4 Analyse overheads, calculate overhead absorptions rates and under/over recovery of overhead.
MLO5 Explain how a standard costing system operates, calculate basic variances and reconcile budgeted and actual profit.
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named DkIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
 
Module 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.
Module Assessment
Assessment Breakdown%
Course Work30.00%
Final Examination70.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Class Test % of Total Mark 30
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 1,2,3
Duration in minutes 0
Assessment Description
Mid-term assessment to provide feedback to students on progress to-date.
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 70
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 1,2,4,5
Duration in minutes 0
Assessment Description
End-of-Semester Final Examination
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

Workload: Full-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 3.00 3
Directed Reading Non Contact No Description Every Week 3.00 3
Independent Study Non Contact No Description Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Directed Reading Non Contact No Description Every Week 4.00 4
Independent Study Non Contact No Description Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Gail Sheppard. (2011), Management Accounting - A Practical Approach, 1st. Gill and Macmillan, [ISBN: 9780717149964].
Supplementary Book Resources
  • Colin Drury. (2011), Cost and Management Accounting - An Introduction, 7th. Centage Learning, [ISBN: 9781408032138].
  • Peter Atrill and Eddie McLaney. (2012), Management Accounting for Decision Makers, 7th. Pearson, [ISBN: 9780273762263].
  • John Dyson. (2010), Accounting for non-Accounting Students 4th. Ed 1997 ISBN 0273 62575 6, 8th. Pearson, [ISBN: 9780273722977].
  • T. Lucey. (2009), Costing, 7th. Centage Learning, [ISBN: 9781844809431].
This module does not have any article/paper resources
Other Resources
  • Accounting Institutes Websites.
  • Accounting Institute Journals.
  • Harvard Business Review.
  • Business Week.
  • The business section of newspapers.