Module Content

Including cost terms & concepts.
Cost accumulation for inventory valuation.
• Accounting for direct costs
• Cost assignment for indirect costs
• Process costing
• Joint and by-product costing systems
• Income effects of alternative cost accumulation systems.

Information for decision making.
• Cost-volume-profit analysis
• Cost estimation and cost behaviour
• Relevant costs and revenues for decision-making.
• Activity-based costing

Information for planning, control and performance measurement.
• The budgeting process
• Standard costing and variance analysis.

Capital investment appraisal.
• Payback
• Accounting rate of return
• Net present value.

Teaching Methods

The module is delivered by means of a weekly lecture / seminar followed by a workshop which will combine the theory and practice of the subject. In this way, students gain experience of the practical applications of the theory of financial accounting. Students are expected to complete pre-set exercises prior to each workshop.
Lecture slides, lecture notes and seminar questions are available to the students on the computer network. Students are given guided reading for each lecture and are required to develop the topic area by studying the lecture notes and required reading before attempting to prepare answers to the questions in the workshop. There are additional seminar support sessions, which are timetabled.
The assessment strategy is designed to allow students to gain proficiency in the fundamental technical and computational aspects of the subject. It is also designed meet the Accountancy Professional Bodies exemption criteria as well as test the width and depth of a student’s knowledge.
At the end of year there will be an unseen 3 hour examination which accounts for 70% of the total marks. This may contain problem solving questions and discussion essays. A choice of questions will normally be given.
Students will draw on and enhance graduate attributes of planning, communication, literacy and analysis and develop confidence and expand their intellectual ability through constructing argument and exploring perspectives. This will aid employability with the accounting profession and careers in general business management. Against this background, the assessment criterion is designed to meet the professional exemption criteria.
Formative feedback on seminar and practice questions is provided to students on a weekly basis, with additional support available in the timetabled Technical Support Workshops.

Assessment Methods

This module is assessed through two exams 30% (2 hours) and 70% (3 hours).