Teaching Responsibility
LJMU Schools involved in Delivery:
Liverpool Business School
Learning Methods
Online
Workshop
Module Offerings
4005LBSAF-JAN-MTP
Aims
1. To explain the principles in designing management and cost accounting information systems.
2. To explain the principles involved in evaluating management and cost accounting information.
Learning Outcomes
1.
Account for material, labour and overheads whilst preparing and evaluating a detailed budget.
2.
Discuss costing methods and their results
3.
Explain and analyse costs relevant to short-term decision making
4.
Analyse performance using budgets recognizing alternative approaches and sensitivity to variable factors.
Module Content
Outline Syllabus:Differences between Financial & Management Accounting and cost classification/estimation.
Information for planning and control including strategical, tactical and operational planning.
Absorption costing techniques including apportion of overheads and calculation of overhead absorption rates
Budget preparation including the use of spreadsheets e.g. sales budgets, production budgets, cash budgets, income statement and discussion of ‘what if’ scenarios.
Accounting for materials e.g. LIFO, FIFO and WA.
Accounting for labour e.g. labour mix, piecework.
Budgeting including purposes of (and how they conflict), review of models (responsibility-based and product-based) & budget control and criticisms of.
Marginal Costing techniques and decision making based thereon.
Marginal v Absorption costs and effect on profit figures.
Cost Volume Profit Analysis including multi-product break even and limiting factors.
Traditional inventory control and costs pertinent to e.g. EOQ.
Flexible budgets.
Module Overview:
The aim of this module is to explain the principles in designing and evaluating management and cost accounting information systems.
The aim of this module is to explain the principles in designing and evaluating management and cost accounting information systems.
Additional Information:The coursework provides an opportunity for formative feedback. the examination is the terminal summative assessment.
Students will be introduced to the financial information needs of management. The will learn a number of relevant management accounting techniques used in the organisation.