ACCT B8004 - Cost and Management Accounting

Module Details

Module Code: ACCT B8004
Full Title: Cost and Management Accounting
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction: 
Duration: 2 Semesters
Credits:: 10
Module Owner:: Patrick Fitzgerald
Departments: Unknown
Module Description: This module introduces the learner to the fundamentals of Cost & Management Accounting and builds upon upon basic knowledge to introduce more complex concepts.
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Differentiate between financial accounting,cost accounting and management accounting.
MLO2 Create master budgets to include cash budgets,trading account, profit and loss account and balance sheet.
MLO3 Compute material, labour and overhead costs. Analyse and apply overhead costs under Absorption and Marginal costing systems
MLO4 Evaluate how a standard costing system works, calculate variances under the headings of Sales ,Materials, Labour and Overheads, Reconcile actual profit with budgeted profit through variance analysis using both absorption and marginal costing.
MLO5 Identify and appraise the assumptions on which CVP analysis is based. Evaluate the Cost/Volume/profit relationship and distinguish between relevant and irrelevant costs for decision making purposes.
MLO6 Apply management accounting principles to decisions regarding the optimal use of scarce resources including Graphical Method Linear Programming.
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
Cost accumulation and accounting techniques and the nature of costs
Overhead allocation, apportionment and absorption, under/overhead recovery.
Stock Valuation
Material purchasing procedures, handling routines and pricing methods FIFO LIFO AVCO
Labour control and incentive systems.
Piecework, Bonus Payments, Direct & Indirect Labour Costs
Assumptions underlying CVP analysis and the limitations sam
The application of CVP analysis to decision making problem solving for single and multiple products.Breakeven, Margin of Safety Graphical representation of BEP
Decision making using relevant costs
Measuring relevant costs and revenues for decision making problem solving. Sunks Costs, Opportunity Costs, Incremental Costs, Differential costs
Master Budgets and Budgetary planning
The preparation of operating budgets, cash flow forecasts and budgeted statements of profit and loss and balance sheet.
Standard Costing and Variance analysis
Standard costing to include the setting of standards, calculation of variances and preparation of variance reports.Reconciling Budgeted and Actual profits
limiting Factor & Key Factor analysis
Application of Graphical Linear Programming for decision making purposes. Basic numeric analysis where limiting factor exists
Module Assessment
Assessment Breakdown%
Course Work20.00%
Final Examination80.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Class Test % of Total Mark 10
Marks Out Of 0 Pass Mark 0
Timing S1 Week 6 Learning Outcome 1,3
Duration in minutes 0
Assessment Description
written class test Individually assessed
Project
Assessment Type Project % of Total Mark 10
Marks Out Of 100 Pass Mark 40
Timing S1 Week 13 Learning Outcome 2
Duration in minutes 0
Assessment Description
Integrated Cash Budget with Projected Income Statement and Statement of Financial Position. Individually assessed
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 80
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 1,3,4,5,6
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 Once per semester 4.00 60
Directed Reading Non Contact No Description Once per semester 2.00 30
Independent Study Non Contact No Description Once per semester 4.00 60
Total Weekly Learner Workload 10.00
Total Weekly Contact Hours 4.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Face to Face Lecture Every Week 2.00 2
Directed Reading Non Contact No Description Every Week 3.00 3
Independent Study Non Contact No Description Every Week 3.00 3
Online (non-contact) Non Contact No Description Every Week 1.00 1
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Colin Drury. (2017), Management and Cost Accounting, 10th. Cengage Learning, London, [ISBN: 9781473748873].
Supplementary Book Resources
  • Colin Drury. (2015), Management and Cost Accounting Student's Manual, 9th.. Cengage, London, [ISBN: ISBN:14080939].
  • BPP. (2018), F5 Study Text Performance Management, BPP, London, [ISBN: ISBN: 9781509].
This module does not have any article/paper resources
Other Resources
  • on line resource, Cengage. (2017), Cengage Learning’s CourseMate,, London, Cengage.
  • on line resource, Cengage Learning Aplia. (2012), London, Cengage.
  • Accounting Institutes Websites.
  • Accounting Institute Journals.
  • Harvard Business Review.
  • Business Week.