SHE level 9 SCQF credit points 20 ECTS credit points 10 Module code M3N426998 Module Leader Konstantinos Ritos School Glasgow School for Business and Society Subject Finance and Accounting Trimester A (September start), B (January start), C (May 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, students should be able to:
Teaching / learning strategy arrow_forward This work based module adopts a blended approach to learning which combines face to face contact and online learning via GCU's virtual learning environment, GCU Learn. The teaching and learning strategy encourages an active and self-directed approach to learning. In the context of a work based ethos, teaching and learning methods use real world and real work scenarios to promote action learning, inquiry based learning, problem based learning and peer learning. These methods include lectures, seminars, online directed learning packages (power point presentations/study guides/videos), podcasts and discussion boards. These approaches will be used to directly involve the students in the process of learning and to encourage collaborative learning amongst students. Learners will be supported during the module by the module team which includes module tutors, work based mentors and Academic Development Tutors. Module tutors act as facilitators and also determine the level and accuracy of knowledge acquisition at key points in the delivery. Additionally, input, when necessary, either directly or with the support of external experts will add to the authenticity, credibility and application of education and learning to the workplace. Work based mentors provide a full spectrum of workplace support helping apprentices to identify relevant work activity that can operate as a source for work-integrated learning, advise on the development of work-based projects, provide feedback on the development of professional competence, and formatively comment on progress in achieving negotiated work-integrated learning objectives. Academic Development Tutors will provide support to help maximise students' potential in relation to academic writing, referencing and the development of effective study techniques. Both formative and summative assessment strategies will be adopted during the module. Formative assessment will be used not only to encourage knowledge of the subject, but also to help develop transferable skills. Summative assessme
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 15 Tutorials 0 Practicals 0 Seminars 0 Independent Learning 145 Assessment 40 Placement 0
Assessment methods Component Duration Weighting Threshold Description Exam001 3 100 35 Unseen written exam
