SHE level 8 SCQF credit points 20 ECTS credit points 10 Module code M2N425752 Module Leader Konstantinos Ritos School Glasgow School for Business and Society Subject Finance and Accounting Trimester B (January start)
Summary of content The module will cover the use of management accounting techniques and their role in planning, control and performance evaluation. Major topics include: Forecasting, Standard Costing, Process costing, Divisional Performance, Transfer Pricing, Performance Measurement and Behavioural Aspects of Management Accounting. The student will learn to present information in a usable, reasoned format emphasizing previously acquired computer and communication skills.
Module details Syllabus arrow_forward Introduction to Management Accounting Control Theory Cybernetic control loop Feedback and feedforward control Standard Costing & Variance Analysis Description of the standard setting process. Basic variance analysis - sales, material, labour, variable and fixed overhead. Planning and operational variances Mix & yield variances. Profit reconciliation of budget versus actual Interpretation of variances. Process Costing Process costing for using weighted average and FIFO basis Calculations incorporating joint products and by-products. Performance Management Use of performance indicators Balanced scorecard & building blocks approaches. Financial performance measure and evaluation: Divisional Performance ROI, RI Transfer Pricing including International Transfer Pricing Non-financial performance management frameworks - the Balanced Scorecard Calculation of, consideration of minimum, maximum acceptable. Factors impacting on management control systems Forward planning: Forecasting techniques Introduction to the behavioural aspects of Accounting
Learning outcomes arrow_forward Upon successful completion of the module the student should be able to: 1. Demonstrate a broad knowledge of the scope, defining features, and main areas of management accounting planning and control together with detailed knowledge in some areas. 2. Understand a limited range of core management accounting planning and control theories, principles and concepts. 3. Apply various management accounting techniques and formats covered in lectures and seminars in planning and control. 4. Undertake a critical analysis of concepts, information and issues which are within the common understanding of management accounting as it affects planning and control.
Teaching / learning strategy arrow_forward The module has been designed for delivery through lectures and seminars delivered on campus, supported by web- based material on GCU Learn. Every student will receive a module handbook containing a copy of previous year's exam diets. Topics are introduced in lectures. Lectures and seminars will be used flexibly in accordance with the needs of the module. Worked examples will be covered in lectures at the start of each topic so freeing seminar contact time for discussion of further examples and their solutions. Students are expected to work through specially designed - student-centered material- with tutor assistance when required. This process will help integrate the teaching and learning situation and involve the students more actively in the generation and planned use of feedback. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCU Learn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission. Feedback Strategy A: Facilitating the development of self-assessment: Comparison of student's prepared solutions to tutorial question with tutors suggested solutions. Discussion of coursework with individual student and comparison to skeleton solution. By making use of the on-line resources of self-assessment tests, students will have the opportunity to test themselves frequently throughout the semester and reflect on their performance B: Encouraging dialogue: Participation at seminars and lectures. Discussion with students at seminars of problems fa
Indicative reading arrow_forward Transferrable skills arrow_forward By the end of this module students will have gained competence in a number of Professional and practical skills and should be able to: Use a range of routine skills, techniques, practices and materials associated with management accounting. Use a few skills, techniques and practices that are specialised or advanced. Practice routine methods of enquiry. Adapt routine practices within accepted standards. On successful completion of this module students should be able to evidence personal development skills and enterprise or business skills: Use a range of management accounting techniques to support and enhance work. Interpret, use and evaluate numerical data. Practice in ways which show a clear awareness of own and others' roles and responsibilities.
Module structure Activity Total hours Lectures 22 Tutorials 0 Practicals 0 Seminars 11 Independent Learning 137 Assessment 30 Placement 0
Assessment methods Component Duration Weighting Threshold Description Course Work001 30 35 Group financial modelling project Exam002 2 70 35 2 Hour unseen examination