Teaching Responsibility

LJMU Schools involved in Delivery:

Liverpool Business School

Learning Methods

Workshop

Module Offerings

4105LBSAF-JAN-MTP

Aims

The aim of this module is to develop an introductory knowledge and understanding of the nature and purpose of cost and management accounting information within the organisation.

Learning Outcomes

1.
Explain the role of budgeting and prepare, analyse and present detailed financial budgets to management in a clear and appropriate format.
2.
Apply and analyse appropriate costing methods and management accounting techniques to provide information to support the organisation.
3.
Explain different costing approaches and analyse their results.
4.
Analyse performance using budgets, recognising alternative approaches and sensitivity to variable factors.

Module Content

Outline Syllabus:Purpose and role of management accounting, comparison with financial accounting and the nature of organisational information requirements. Various cost classification methods and their uses - by type, behaviour and function. Preparation and analysis of operational budgets, cash budget and budgeted income statement. Purposes of budgeting, alternative approaches and behavioural aspects. Absorption costing techniques including apportion of overheads and calculation of overhead absorption rates for product costing. Accounting for materials and inventory control including FIFO, LIFO, WA, EOQ and associated costs. Marginal costing techniques and decision-making including CVP, limiting factor analysis. Marginal costing v absorption costing - impact on profit, use of pricing strategies. Preparation of flexible budgets for planning and control and calculation of cost and revenue variances.
Module Overview:
The aim of this module is to develop an introductory knowledge and understanding of the nature and purpose of cost and management accounting information within the organisation.
Additional Information:Students will be introduced to the financial information needs of management. They will learn a number of relevant management accounting techniques used in the organisation.

Assessments

Practice

Centralised Exam