Management Accounting helps you handle financial information in a manner that will enhance the financial and operational performance of a business. It ensures that financial challenges are met, and opportunities exploited. By using management accounting techniques, you can adapt a business to the opportunities and constraints it may face.

In this module, you will be introduced to the context of management accounting. The nature, source and purpose of management information: Accounting for management, Sources of data, Cost classification, Presenting information.

Data analysis and statistical techniques: Sampling methods, Forecasting techniques, Summarising and analysing data, Spreadsheets. Cost accounting techniques: Accounting for material, labour and overheads, Absorption and marginal costing, Cost accounting methods, and Alternative cost accounting principles.

Budgeting: Nature and purpose of budgeting, Budget preparation, Flexible budgets, Capital budgeting and discounted cash flow, Budgetary control and reporting, Behavioural aspects of budgeting. Standard costing: Standard costing system, Variance calculations and analysis, Reconciliation of budgeted and actual profit. Performance measurement: Overview of performance measurement, Application of performance measurement, Cost reductions and value enhancement, Monitoring performance and reporting.

The ecosystems of organisations: Markets and competition, Society and regulation, Concept of value and the business model, defining value, creating value, delivering value, Capturing and sharing value, Analyse digital business models and their related operating models.

The concepts of project leadership: Project objectives, Key stages of the project life cycle, Project control, Project structure, Roles of key project personnel, Managing project stakeholders, Project management tools and techniques, Project risk management tools

Online class Test (1 hour) (30%) (LO 1)

Written Exam (2 hours) plus 10 mins reading time (70%) (LOs 2, 3 & 4)

The learning strategy for the module requires students to commit 200 learning hours (including assessment) of which there will be 52 hours of tutor-led learning and 148 hours of independent and self-directed study.

Concepts, theories and principles will be explored, practised and demonstrated. Practical skills enhanced by recommended videos and talks. LinkedIn Learning will be used to direct self-study learning throughout the study block. Cognitive and personal skills developed in open-ended problem-solving exercises. Oral feedback will be given during sessions. The assessment will examine the wider learning outcomes expressed in the descriptor.

You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module.

1. Apply forecasting and budgeting techniques for decision making, planning and control within the organisation.

Knowledge & Understanding, Learning.

2. Analyse the working capital position of a business and apply working capital management techniques for decision making, planning and control within the organisation.

Analysis & Understanding.

3. Understand the organisation ecosystem and elements of business models.

Knowledge & Understanding.

4. Analyse and evaluate performance measures applied by various individual & business enterprises to meet stakeholder expectations.

Analysis, Enquiry & Communication.

Module study guide and handbook

The University Library and Learning Resources - books and academic journals

The module VLE

Learning support materials and booklets

Internet

Microsoft Office Excel

Microsoft Office PowerPoint

Padlet and other digital feedback mechanisms

Computer-based quizzes

Recommended: Seal, W. et al. (2015). Management Accounting. 5th Ed. London: McGraw & Hill- this text will also be used for the Management Accounting Techniques module at Level 5.

Elliott B and Elliott J (2017) Financial Accounting and Reporting, 18th edition. Pearson, ISBN 13:978-1-2921624-0-9

Open Access Textbooks (free online):

Principles of Management (2015), University of Minnesota Libraries Publishing, ISBN 13: 978-1-9461351-8-6. (https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=34)

Warren, K. (2016), Building Strategy and Performance, Saylor Foundation Publishing, ISBN 13: 978-1-4533329-1-7. (https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=122)

Other suggested texts that may be helpful:

PP CIMA CO1 Fundamentals of Management Accounting Study Text

BPP CIMA P1 Performance Operations Study Text

Weetman, P. (2015). Financial and Management Accounting. 7th Edition, Pearson

All those who work for, or deal with businesses need to understand accounting. This module aims to look at the nature of accounting, exploring the main concepts underpinning management accounting. The main branches of cost accounting and decision making as well as cost minimisation and revenue maximisation are explored using a blend of theory and practice. Also, how to use the metrics for ascertaining business performance and explore the different types of KPIs that help you understand the performance of your organisation or department. The module is aimed at giving you the skills and tools to measure the success of an organisation.