Indicative Content |
Introduction
Explain how management accounting supports the management team of an organisation in the activities of planning, performance evaluation, decision-making and costing.
Purpose of management accounting
Scope of management accounting
Characteristics of management accounting and the relationship to financial accounting first stage level
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Cost accumulation systems
Be able to explain the purpose and process of product costing and compute basic product costs. This will include:
Cost elements and cost classification (Direct v Indirect)
An understanding of manufacturing v non-manufacturing overheads.
Absorption of overheads to products using Traditional Absorption Costing.
The concept of under/over absorption.
High level review of Job and batch costing methods, Contract costing and Process costing.
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Activity-Based costing
What is ABC
A comparison of ABC V TAC (linked to today’s business environment)
Absorbing overheads & product costing via ABC
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Absorption costing and marginal control
Marginal and absorption costing different rationales
Profit statement
Decision making
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Information for decision making
Cost Volume Profit (CVP) Analysis
The elements of profit; contribution margin; breakeven point; target profit; sensitivity analysis; multi-product scenarios; usefulness and limitations of the model
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Recommended Book Resources |
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McLaney, E & Atrill, P. (2018), Accounting and Finance an Introduction, 9th Ed. 1-7, Pearson, Harlow.
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Wild, J.J. and Shaw, K.W. (2021), Financial & Managerial Accounting, 9th. McGraw Hill.
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Sheppard, G. (2011), Management Accounting, Gill and MacMillan, Dublin.
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Supplementary Book Resources |
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Drury, C.. (2015), Management and Cost Accounting, 9th Ed. Cengage Learning, London.
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This module does not have any article/paper resources |
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Other Resources |
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[Journal], Accountancy.
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[Journal], Accountancy Ireland.
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[Journal], Business & Finance.
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[Journal], Finance.
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[Journal], Financial Management.
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[Website], http://www.gillandmacmillan.ie/accountin
g-finance/accounting-finance/managementa
ccounting.
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[Website], http://www.drury-online.com/cma7/student
s/stu_title.htm.
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[Website], http://www.cmaireland.com.
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[Website], http://www.cengagebrain.com.
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[Website], http://www.hoovers.com.
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[Website], http://www.accountingtools.com.
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[Website], http://www.accountingeducation.com/.
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[Website], http://charteredaccountants.ie/.
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[Website], http://www.cpaireland.ie.
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