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Parent Programme
Bachelor of Business (Level 7 NFQ)
MODULE NFQ
Level 6
MODULE CREDIT UNITS
ECTS: 10
MODULE TITLE
Management and Cost Accounting
Reference Code: BB7 611
STAGE
Year 2
Fall Semester 1
12 Weeks Full-Time X 6 Hours per week
12 Weeks Part-Time X 4 Hours per week

Management & Cost Accounting Module

The role of management and cost accounting

The indicative syllabus of this module is outlined in the units below:

  • Planning.
  • Control.
  • Decision Making.

Cost classifications and behaviour

Management & Cost Accounting

  • Direct/Indirect Costs.
  • Variable/Fixed/ Step Costs.

The Costs

  • Material.
  • Labour.
  • Overheads.

Costing

  • Absorption Costing.
  • Marginal Costing.
  • Job and Contract Costing (construction Industry).
  • Service Costing.

Cost-volume-profit analysis

  • Break-even analysis.
  • Margin of Safety.
  • Target Profits.
  • Costing and pricing.

Decision Making

  • Contribution/Yield Management in industry.
  • Relevant cost of Material.
  • Relevant cost of Labour.

The Budgeting Process

  • Management control Systems.
  • The preparation and control of budgets.
  • Cash budgeting and the cash flow forecast.
  • Standard costing and variance analysis.
  • Profit Analysis.
  • Pricing Analysis.

Investment decisions

  • Appraisal methods.
  • Capital Rationing.
  • Outsourcing.

Contemporary Issues

  • Current best practice in management and cost accounting.

Minimum Intended Learning Outcomes (MIMLOs)

Upon successful completion of this module, the learner should be able to:
LO 1
Identify the role of management and cost accounting in generating valuable information for management.
LO 2
Apply the theories of cost accounting to the modern business environment.
LO 3
Explain the cost structures of businesses.
LO 4
Apply the concept of Probability in assessing the risk factor in the decision making process, and in Statistical Inference.
LO 5
Prepare functional and master budgets.
LO 6
Describe the role of capital budgeting in investment decisions.

Assessment

MIMLOs
Assessment
Percentage
1
Project: Group Case Study with written report
20%
2, 3
CA
40%
4, 5, 6
Final Written Examination
40%

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Aims & Objectives

The aim of this module is for learners to understand how the key costs of any business (materials, labour and overheads) interact at different levels of activity in the business.

  • Conduct an assessment of business’s performance using Management & Cost Accounting models.
  • Interpret the results of Management & Cost Accounting models to help identify areas for business improvement.
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