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ACCT6002 - Cost Accounting

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Title:Cost Accounting
Long Title:Cost Accounting
Module Code:ACCT6002
 
Credits: 5
NFQ Level:Fundamental
Field of Study: Accounting, Auditing and Accountability
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 6 programme(s)
Module Coordinator: Claire OSullivan Rochford
Module Author: SUSAN FLANNERY
Module Description: This module provides students with an introduction to the concepts of cost and management accounting which focuses on the analysis of costs associated with running businesses.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Distinguish between management and financial accounting
LO2 Explain the nature of costs
LO3 Record costs and apply different techniques of cost compilation
LO4 Evaluate and apply cost control techniques
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
Management Accounting
Distinguish between management and financial accounting, describe the role of the management accountant and how it has evolved in recent years
Cost Concepts
Types of costs: variable and fixed, direct and indirect, overhead and prime cost
Recording Costs
The cost of material as well as stock control, labour and different methods of remuneration, overheads classification, allocation, apportionment and absorption
Cost Compilation
Job and Process costing
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 Multiple choice/short answer questions 1,2,3 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 with worked examples 4.0 Every Week 4.00
Independent & Directed Learning (Non-contact) Published articles and research 3.0 Every Week 3.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Formal Lecture with worked examples 2.0 Every Week 2.00
Directed Learning Published articles and research 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: 0-273-70199-1]
Supplementary Book Resources
  • CIMA 2015, Fundamentals of Management Accounting, 2015 Ed., Kaplan Publishing [ISBN: 784151089]
  • Gail Sheppard 2011, Management Accounting: A practical guide, Gill and Macmillan [ISBN: 717149964]
Supplementary 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 2 Mandatory
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 1 Mandatory
CR_ECTWB_7 Bachelor of Science in Craft Technology (Wood) with Business 2 Mandatory
CR_ECTMS_7 Bachelor of Science in Craft Technology - Mechanical Services 2 Elective
CR_BBUSS_6 Higher Certificate in Business 2 Mandatory
CR_BACCT_6 Higher Certificate in Business in Accounting 1 Mandatory

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Email: help@cit.edu.ie