ACCT07036 2020 Introduction to Business Finance 2

General Details

Full Title
Introduction to Business Finance 2
Transcript Title
Intro to Business Finance 2
Code
ACCT07036
Attendance
N/A %
Subject Area
ACCT - Accounting
Department
BUS - Business
Level
07 - NFQ Level 7
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2020 - Full Academic Year 2020-21
End Term
9999 - The End of Time
Author(s)
Gary Reynolds, Sandra Hallinan
Programme Membership
SG_MBUSI_H08 202000 Bachelor of Arts (Honours) in Business & ICT SG_ALAW&_H08 000000 Bachelor of Arts (Honours) in Law & Business
Description

This module will provide students with a basic understanding of management accounting and the tools available, through this accounting discipline, which can assist in providing management with information for planning, controlling and decision making purposes.  

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Describe and evaluate the role of a management accountant within an organisation, the organisational requirements of this role and any possible ethical issues they face.

2.

Identify, analyse and categorise costs and cost behaviour and explain the terminology used in cost accounting.

3.

Apply and evaluate cost accounting techniques to calculate the cost of producing a product or providing a service.

4.

Explore the various planning and control techniques utilised by managers of an organisation. Choose , calculate, and interpret these decision making techniques when appraising business choices.

5.

Describe and evaluate the budgetary process, as a mechanism for organisations to develop and assess performance and prepare functional, cash and incremental budgets.

Teaching and Learning Strategies

Comprises of lectures & tutorials and independent learning.

Module Assessment Strategies

Written Final Exam

Moodle Quiz with theory and numerical content

Project

Repeat Assessments

Written Exam and/ or Moodle Quiz/Project with theory and numerical content.

Indicative Syllabus

Describe and evaluate the role of a management accountant within an organisation, the organisational requirements of this role and any possible ethical issues they face. After studying this area, students should be able to:

  • discuss the principles of management accounting and it’s position in an organisation; 
  • explain the difference between management and financial accounting;
  • identify that management accounting within an organisation is  involved in planning - achieving the objectives of the organisation through budgetary planning and control, decision-making – providing detailed and timely information to owner and managers to make decisions, reporting – providing information for internal use within an organisation, performance measurement – both quantitative and qualitative performance and controlling operations and efficient use of resources.
  • ensuring ethical standards in management accounting: competence, confidentiality, integrity and credibility.

Identify, analyse and categorise costs and cost behaviour and explain the terminology used in cost accounting. After studying this area, students should be able to:

  • explain the need to allocate costs,
  • classify costs into direct and indirect costs, period and product costs; variable, fixed, semi-variable and stepped costs; decision making costs and non-manufacturing costs.

Apply and evaluate cost accounting techniques to calculate the cost of producing a product or providing a service. After studying this area, students should be able to:

  • Explain the different costing methodologies
  • Discuss the components of product costing
  • Identify the categories of cost allocation and the components of product costing

Explore the various planning and control techniques utilised by managers of an organisation. Choose , calculate, and interpret these decision making techniques when appraising business choices. After studying this area, students should be able to:

  • Explain the meaning of relevance in management accounting.
  • Discuss the use of standard and marginal costing in decision making.
  • Provide advice with supporting quantitative analysis for decision making.
  • Discuss why absorption costing is not used when making short-term decisions.
  • Discuss the use of qualitative information in decision making.

Describe and evaluate the budgetary process, as a mechanism for organisations to develop and assess performance and prepare functional, cash and incremental budgets. After studying this area, students should be able to:

  • Discuss the difference between the mission statement, strategy an budget setting
  • Explain how budgets form part of the control process of a business
  • Explain budgeting terminology
  • Outline the stage in a budget process
  • Prepare budgets

 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Moodle Quiz/MCQ/Project Continuous Assessment Assessment 40 % OnGoing 1,2,3,4,5
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam Closed Book Exam 60 % End of Term 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Flat Classroom Lecture 2 Weekly 2.00
Tutorial Flat Classroom Practical questions and discussions 1 Weekly 1.00
Independent Learning Not Specified Independent Learning 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Required & Recommended Book List

Required Reading
2011 Management Accounting Gill Education
ISBN 071714996X ISBN-13 9780717149964

This text presents strategic and traditional management accounting topics and, where appropriate, revision questions will compare approaches of both methods. Beginning with learning objectives, each chapter is example driven, introducing basic concepts and leading to more complex examples.

Module Resources