SHE level 9 SCQF credit points 20 ECTS credit points 10 Module code M3N325753 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 management accounting and its role in management decision making. Major topics include: Advanced Cost Volume Profit Analysis, Relevant Costing in specific contexts, Linear Programming, Pricing, Investment Appraisal, and Uncertainty, The student will learn to present information in a usable, reasoned format emphasizing computer and communication skills.
Module details Syllabus arrow_forward Advanced cost and income behaviour and modelling: Graphical simulation of complex cost behaviour including economist v accounting models Least squares application for fixed and variable costs differentiation Learning curves for labour cost estimation Cost-profit-volume for multiple product scenarios Cost-profit-volume analysis for multiple breakeven points Relevant Costing analysis in defined complex scenarios including financial and on-financial consideration: Replacement equipment Segment/function deletion (including functional analysis) Special order Outsourcing (including value chain analysis) Stockholding (including JIT, EOQ) Pricing Decisions: Consideration of theoretical methods of pricing e.g. economists model Calculation of optimal price - incorporating the use of calculus. Target pricing, market skimming and penetration pricing. Life cycle costing and pricing Uncertainty and risk in decision making Probability theory and risk parameters (standard deviation, coefficient of variation) Uncertainty modelling for decision making: EMV, minimax, maximin, minimax regret Construction of decision trees Two way tables Introduction to risk management Investment Appraisal NPV, IRR, ARR and payback - comparison and evaluation Advanced aspects: Taxation, inflation, lease/buy, capital rationing Decision making where limitations exist One limiting factor including throughput accounting More than one limiting factor but two products - graphical approach More than one limiting factor and more than two products: Linear Programming
Learning outcomes arrow_forward On successful completion of this module, the student should be able to: 1. Demonstrate a broad and integrated knowledge and understanding of the scope, main areas and boundaries of management accounting for decision making. 2. Critically understand a selection of principal theories, principles and terminology of management accounting to aid in decision making. 3. Demonstrate a detailed knowledge of some areas and knowledge of one of more current developments in management accounting for decision making. 4. Undertake critical analysis, evaluation and synthesis of ideas, concepts, information and issues. 5. Identify and analyse contextualised professional problems and issues 6. Draw on a range of sources in making judgements.
Teaching / learning strategy arrow_forward Teaching / Learning Strategy Lectures, seminars and computer based learning will be used flexibly in accordance with the needs of the module. Worked examples will be distributed to students at the start of each topic to allow for student preparation so freeing seminar contact time for detailed discussion of solutions. The use of the computer assisted learning will support the teaching and learning strategy. Students are expected to work through specially designed, student-centred material, with tutor assistance when required. Case studies will be used to develop managerial accounting skills and reinforce management accounting concepts. The coursework is a group study on a complex business case involving advanced investment appraisal techniques linked with uncertainty and non-financial considerations. Students are provided with formative and summative feedback via a variety of mechanisms. Student feedback will take place within three weeks of the date of the coursework assignment and all students will be offered an individual meeting to discuss their solution. 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 GCULearn to ensure student support and information sharing. 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 the
Indicative reading arrow_forward Transferrable skills arrow_forward By the end of this module students will have gained competence in the key areas of professional/practical skills, personal development skills and enterprise or business skills and will be able to: Use a selection of the principal skills, techniques and practices associated with management accounting Use a few skills, techniques and practices that are specialised or advanced Practice routine methods of enquiry and research Practice in a range of professional level contexts which include a degree of unpredictability Exercise autonomy and initiative in professionally equivalent activities 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 Project simulation, inidividual assessment including video presentation Exam002 3 70 35 Unseen 3 Hour exam