Teaching Responsibility

LJMU Schools involved in Delivery:

LJMU Partner Taught

Learning Methods

Lecture
Seminar

Module Offerings

4507IYBSG-APR-PAR
4507IYBSG-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. Flexible budgets.
Module Overview:
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. 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. They will learn a number of relevant management accounting techniques used in the organisation.
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. They will learn a number of relevant management accounting techniques used in the organisation. Louise Burton - Module Leader.

Assessments

Exam
Report