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ACCT6004 - Cost & Management Accounting

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Title:Cost & Management Accounting
Long Title:Cost & Management Accounting
Module Code:ACCT6004
 
Credits: 5
NFQ Level:Fundamental
Field of Study: Accounting, Auditing and Accountability
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 4 programme(s)
Module Coordinator: Claire OSullivan Rochford
Module Author: RUTH VANCE
Module Description: This module will allow students to assist management in decision making. It will enable students to provide the relevant information for volume decisions, budgeting and standard setting.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Describe cost behaviour.
LO2 Explain the budgeting process and prepare the cash budget.
LO3 Discuss the concepts of setting standards and prepare exception reports.
LO4 Evaluate the role of costing in decision making
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
Co-requisites
No Co Requisites listed
 

Module Content & Assessment

Indicative Content
Cost Behaviour
Differentiating between variable, semi variable and fixed costs, the concept of breakeven, margin of safety and their limitations.
Budgeting
The budget process and its role in management, cash budgets.
Standard Costing
The setting of standards and the calculation of variances, the preparation of exception reports and the study of the behavioural aspects of variances.
Relevant Costing
Costing to help managers make decisions in circumstances of limiting resources and make or buy decisions
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions Theory and practice of budgeting and cost behaviour 1,2 30.0 Week 7
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4 70.0 End-of-Semester
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Formal lectures 3.0 Every Week 3.00
Independent & Directed Learning (Non-contact) Published articles and research. 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Formal lecture 2.0 Every Week 2.00
Directed Learning Self study & reading 5.0 Every Week 5.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Pauline Weetman 2010, Management Accounting, Financial Times/Prentice Hall [ISBN: 9780273718413]
  • CIMA 2015, Fundamentals of Management Accounting, Kaplan Publishing [ISBN: 978-071714996]
Supplementary Book Resources
  • Gail Sheppard 2011, Management Accounting: A practical Approach, Gill and MacMillian [ISBN: 717149964]
This module does not have any article/paper resources
This module does not have any other resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_BBUSS_7 Bachelor of Business 3 Group Elective 3
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 2 Mandatory
CR_BBUSS_6 Higher Certificate in Business 3 Elective
CR_BACCT_6 Higher Certificate in Business in Accounting 2 Mandatory

Cork Institute of Technology
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Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie