Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Workshop
Module Offerings
5601AFYPC-SEP-MTP
Aims
The purpose of the module is to build on the basic management accounting methods used at Level 4 through coverage of a range of further techniques that aid costing, decision-making, planning and control.
Learning Outcomes
1.
Produce a range of management accounting information for control, planning and decision-making that is suitable for different purposes and in different situations in different organisations.
2.
Analyse information to assess risk and its impact of short and long-term decision-making.
3.
Analyse and evaluate information such that suitable recommendations to management may be made, showing awareness of financial and non-financial factors.
Module Content
Outline Syllabus:
Recap of cost classification methods and their importance to decision-making.
The impact of big data and risk on decision-making.
Activity based costing, budgeting and management and their use in improving the efficiency and decision-making within an organisation.
Process costing including waste and scrap; expected and unexpected outcomes and valuation of WIP. Additional reading to follow-up on joint and by-products and valuation of WIP using FIFO and WAVCO.
Standard costing and variance analysis (calculation and interpretation) e.g. material, labour, variable, fixed, sales, mix, yield, operational and planning, interpretation, interrelationships and criticisms.
Relevant costing and its applicability to decision-making.
Learning curves, regression analysis and time series analysis and the impact of those techniques on decision making.
Recap of cost classification methods and their importance to decision-making.
The impact of big data and risk on decision-making.
Activity based costing, budgeting and management and their use in improving the efficiency and decision-making within an organisation.
Process costing including waste and scrap; expected and unexpected outcomes and valuation of WIP. Additional reading to follow-up on joint and by-products and valuation of WIP using FIFO and WAVCO.
Standard costing and variance analysis (calculation and interpretation) e.g. material, labour, variable, fixed, sales, mix, yield, operational and planning, interpretation, interrelationships and criticisms.
Relevant costing and its applicability to decision-making.
Learning curves, regression analysis and time series analysis and the impact of those techniques on decision making.
Additional Information:
This module aims to provide a detailed study of the production of management accounting information for planning, control, and decision making; discussion of the concepts which underpin management accounting theory leading into third level
studies.
This module aims to provide a detailed study of the production of management accounting information for planning, control, and decision making; discussion of the concepts which underpin management accounting theory leading into third level
studies.