MN50776: Management accounting
[Page last updated: 15 October 2020]
 Academic Year: | 2020/1 |
| Owning Department/School: | School of Management |
| Credits: | 12 [equivalent to 24 CATS credits] |
| Notional Study Hours: | 240 |
| Level: | Certificate (FHEQ level 4) |
| Period: |
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| Assessment Summary: | EX100 |
| Assessment Detail: |
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| Supplementary Assessment: |
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| Requisites: | |
| Aims: | The aim of this unit is to develop an understanding of the strategic and conceptual issues associated with management accounting techniques. Amongst other, the unit aims to explore:
1. The fundamentals of management accounting 2. Contemporary costing techniques and their uses in the modern manufacturing and commercial environment (including AC & MC) 3. The use of management accounting information for decision making and performance measurement. 4. The behavioural consequences of management accounting information, tools and techniques 5. The role and limitations of in management accounting decision making, strategic development and managerial control; 6. The role of management accounting in the context of globalisation, international competition, technological and organisational change, and emerging issues such as the sustainability agenda; 7. Theoretical frameworks to advance the understanding of management accounting techniques; 8. An analytical evaluation of performance based on Management Accounting theories and modern research. |
| Learning Outcomes: | On completion of this unit students should be able to:
1. Prepare costing information using a variety of costing techniques for a range of purposes in a range of modern business environments 2. Use appropriate management accounting information and techniques in a range of decision-making scenarios and to interpret the results 3. Evaluate a number of budgetary control techniques and to compute, analyse and interpret budgetary information to achieve organisational objectives. 4. Critically appraise methods and techniques of costing and value creation; assess the implications of their use and the circumstances in which each technique is most applicable. 5. Application of standard costing and variance analysis techniques. 6. Critically appraise methods and techniques of costing etc, assess the implications of their use and the circumstances in which each technique is most appropriately use. 7. Critically appraise the historical and cultural context of contemporary management accounting techniques; 8. Harness an appreciation of the current management accounting research agendas, their limitations and their relevance to modern business environments. |
| Skills: | Intellectual skills
* Use appropriate financial analysis and computational techniques to compute financial information which is useful in a management accounting context (TFA) * Evaluate and assess the relative merits of quantitative techniques in interpreting internal management information (TFA) * Identifying financial information and analytical techniques relevant to a particular purpose (T/A) * Interpretation of results pertinent to a specified problem/objective (T/A). * Use appropriate financial analysis and computational techniques to compute financial information which is useful in a management accounting context (TFA) * Evaluate and assess the relative merits of quantitative techniques used (TFA) * Identifying financial information and analytical techniques relevant to a particular purpose (T/A) Professional/Practical Skills * Recommend courses of management action based on an assessment of financial implications (T/A); * Create an awareness of change and drivers of influence within an organisational context. * Develop an understanding of the relevant costing, financial analysis and budgeting processes and information in a format suitable for general distribution and interpretation (T/F/A); * Recommend courses of action based on an assessment of financial implications (T/A). * Construction of relevant costing, financial analysis and budget statements in a format suitable for general readership (T/F/A); Transferable/Key Skills * Applying a range of quantitative analysis techniques in a variety of business environments (F) and facilitating substantiation/rationalisation in decision making (T/A). * Critical skills in the application of techniques and the interpretation of results (FA) * Utilisation of knowledge gained to critically apply in a research (and dissertation) environment. |
| Content: | Semester 1
* Introduction to Management Accounting * CVP, cost estimation and cost behaviour * Limiting factor analysis & linear programming * Income effects of absorption costing and marginal costing * Cost assignment * Measuring relevant costs and revenues for decision making * Capital investment decisions, sensitivity & scenario analysis * Price elasticity of demand & pricing strategies * The budgeting process * Standard costing and variance analysis Semester 2 * Critique of management accounting * Divisionalisation * Transfer pricing * Performance evaluation and balance scorecard * Beyond budgeting * Changes in management accounting * Sustainability. |
| Programme availability: |
MN50776 is Compulsory on the following programmes:School of Management
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Notes:
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