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ACCT7011 - Finance Planning and Control

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Title:Finance Planning and Control
Long Title:Finance Planning and Control
Module Code:ACCT7011
 
Credits: 5
NFQ Level:Intermediate
Field of Study: Accounting, Auditing and Accountability
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 1 programme(s)
Module Coordinator: Claire OSullivan Rochford
Module Author: RUTH VANCE
Module Description: This module will introduce management students to some of the most important techniques and models used by management accountants to aid with planning, control and decision making.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Explain the role of the management accountant and outline how management accounting has evolved.
LO2 Describe basic cost behaviour and apply the concept of break-even analysis.
LO3 Construct product costing models such as traditional overhead costing and Activity Based Costing methods.
LO4 Explain the budgeting process and prepare the various budgets.
LO5 Analyse and apply the various planning and control models in order to aid management with 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
Introduction to management accounting
Understanding what management accounting is. Understanding the role of the management accountant in the modern organisation.
Break even analysis
Cost Behaviour and the various cost types. Break-even Analysis: Calculate break-even points by distinguishing between fixed and variable costs. Calculate margins of safety, target profits and perform sensitivity analysis. Use break-even analysis to aid decision making.
Overheads and cost allocation methods
Traditional and Activity Based Costing methods for overhead apportionment. Performing detailed overheads analysis.
Budgeting
The budget process and detailed budget preparation. Cash budgets and mixed budgets (production budgets, materials use and materials purchases budgets).
Relevant Costing
Prepare calculations to help mangers make timely decisions.
Assessment Breakdown%
Course Work100.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Written Report A written report on the role of the management accountant in the modern business environment and the evolution of management accounting through history. 1 25.0 Week 5
Practical/Skills Evaluation In class exam. Perform a break-even analysis on a given business case. Prepare an overhead analysis model for a given scenario. 2,3 35.0 Week 9
Practical/Skills Evaluation In class exam. Prepare various functional budgets for a given business scenario. Analyse and apply planning and control models. 4,5 40.0 Week 13
No End of Module Formal Examination
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 lecture 2.0 Every Week 2.00
Tutorial Discussion / Practical demonstration 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Self study 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 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
  • CIMA 2015, Fundamentals of Management Accounting, Kaplan Publishing [ISBN: 978-1-78415-9]
  • Pauline Weetman 2010, Management Accounting, 2nd Ed., Financial Times/Prentice Hall [ISBN: 0-273-70199-1]
Supplementary Book Resources
  • Charles T. Horngren, Gary L. Sundem, William O. Stratton 2005, Introduction to management accounting, Pearson Education International Upper Saddle River, N.J. [ISBN: 0-13-127308-6]
  • Ray H. Garrison, Eric W. Noreen, Willie Seal; edited by Mark Kavanagh 2005, Management accounting, 2nd Ed., McGraw-Hill London [ISBN: 0-07-710939-2]
Recommended 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 5 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie