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Management Accounting

AB405

Course CodeAB405
ECTS

Course Description

The aim of the unit is for learners to develop their skills in management accounting, including preparation of budgets, costing, capital expenditure appraisal, and to apply these skills to a real world case or case study.

Course Objectives

The aim of the unit is for learners to develop their skills in management accounting, including preparation of budgets, costing, capital expenditure appraisal, and to apply these skills to a real world case or case study.

Key Topics

  1. LO1: Understand the functions of management accounting in business.
  2. LO2: Understand the importance of budgeting, working capital management and accounting for depreciation.
  3. LO3: Be able to calculate standard costs and budget variances.
  4. LO4: Understand how to apply break-even analysis in different contexts.

Course Outline

WeekTopics
1Introduction to Management Accounting
2Cost Accounting and Accounting Integration
3Budgetary Planning and Control
4Working Capital Management
5Non-Current Assets and Depreciation
6Principles of Standard Costing
7Variance Analysis Calculations
MidtermMidterm evaluation
9Evaluation of Standard Costing
10Break-Even and Cost-Volume-Profit Fundamentals
11Applications and Limitations of CVP Analysis
12Applying Management Accounting in practice: case studies
13Assignment workshop: research, planning and referencing
14Assignment workshop: drafting, feedback and improvement
15Review and coursework completion
FinalFinal assessment and submission

Learning Outcomes

  1. LO1 Understand the functions of management accounting in business.
  2. 1.1 Define management accounting,
  3. 1.2 Explain requirements for various management accounting systems used in business.
  4. 1.3 Explain the function of cost accounting in business accounting.
  5. 1.4 Explain the relationship between cost accounting and management accounting.
  6. 1.5 Explain how cost accounting, management account and financial accounting are coordinated to aid effective decision-making in business.
  7. LO2 Understand the importance of budgeting, working capital management and accounting for depreciation.
  8. 2.1 Explain the contribution of budgeting-setting and monitoring to business performance.
  9. 2.2 Explain the advantages and disadvantages of different types of budget-setting.
  10. 2.3 Explain how to apply the techniques for managing working capital management.
  11. 2.4 Explain the methods used to depreciate non-current assets.
  12. LO3 Be able to calculate standard costs and budget variances.
  13. 3.1 Explain the purpose of standard costing for a selected organisation.
  14. 3.2 Calculate standard costs for given data.
  15. 3.3 Calculate variances for given data.
  16. 3.4 Discuss the advantages and limitations of standard costing.
  17. LO4 Understand how to apply break-even analysis in different contexts.
  18. 4.1 Explain how to calculate break-even analysis using formula.
  19. 4.2 Explain how a business organisation can apply cost, volume and profit analysis.
  20. 4.3 Explain the limitations of break-even analysis.
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