ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title MANAGEMENT ACCOUNTING FOR BUSINESS
Code ACFI307
Coordinator Mr MN Drape
Finance and Accounting
N.Drape@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 6 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

ACFI107 INTRODUCTION TO ACCOUNTING AND FINANCE (NON-SPECIALIST) 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

6

      12

6

48
Timetable (if known) 120 mins X 1 totaling 24
 
60 mins X 1 totaling 6
 
      180 mins X 1 totaling 36
60 mins X 1 totaling 6
 
 
Private Study 90
TOTAL HOURS 138

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Mid-term test Assessment Type: Written Exam Duration: 1 hour Weighting: 25% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymou  1 hour    25       
Assessment 2: Timed word processed Examination (Online) Assessment Type: Written Exam Duration: 3 hours Weighting: 75% Reassessment Opportunity: Yes Penalty for Late Submission: Standard   3 hours    75       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             

Aims

The module aims to provide students with an overall understanding of the various techniques and practices utilised by management accountants within the function of business management, all of which can be classified under one of the below headings:
·  Costing
·  Decision making
·  Planning and control
·  Performance management and control


Learning Outcomes

(LO1) Students will be able to understand and apply the concepts of Activity Based Costing and other modern manufacturing techniques.

(LO2) Students will be able to understand and apply the concept of relevant cash flows regarding various business decisions.

(LO3) Students will be able to understand and apply the techniques utilised to effectively plan in the presence of limiting factors.

(LO4) Students will be able to understand various approaches to budgeting and to apply quantitative methods used as part of the budgeting process.

(LO5) Students will be able to understand the concept of standard costing and to perform the calculations and analysis necessary for basic variance analysis.

(LO6) Students will be able to understand the issues faced as part of the performance appraisal process (including that of transfer pricing) and to appraise both the financial and non-financial performance for a given business.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Organisational skills

(S5) International awareness


Teaching and Learning Strategies

Teaching Method: Online Asynchronous Learning Materials
Description: approximately 1 hour weekly sessions used to introduce all topics and delivered via asynchronous sessions provided through the VLE (recordings will be chunked into 20 – 30 minute sections)
Unscheduled Directed Student Hours: 12
Attendance Recorded: No

Teaching Method: Online Synchronous Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: No

Teaching Method: Seminar
Description: Face to face seminar
Scheduled Directed Student Hours: 8
Attendance Recorded: Yes

Teaching Method: Group Study
Description: Biweekly 1 hour session to foster student community and engagement by working with others on their ‘active learning’ activities.
Scheduled Student Hours: 6
Attendance Recorded: No

Self-Directed Learning Hours: 90
Description: These hours will be used to consolidate concepts introduced in learning materials, t o prepare for seminars and for examination revision

Skills/Other Attributes Mapping

Skills / attributes: Problem solving skills
How this is developed: ABC, relevant cash flows and limiting factors.
Mode of assessment (if applicable): Examination and Mid-term test

Skills / attributes: Numeracy
How this is developed: All areas of the module have a numerical element.
Mode of assessment (if applicable): Examination and Mid-term test

Skills / attributes: Commercial awareness
How this is developed: Effective performance appraisal requires strong commercial awareness skills.
Mode of assessment (if applicable): Examination

Skills / attributes: Organisational skills
How this is developed: Throughout the module
Mode of assessment (if applicable)

Skills / attributes: International awareness
How this is developed: Transfer pricing (within international organisations)
Mode of assessment (if applicable): Examination


Syllabus

 

Lectures 1 & 2: ABC and other modern manufacturing techniques (JIT, TQM, CoQ, Target Costing etc.)  
Lecture 3: Relevant cash flows:
Lecture 4 & 5: Planning with limiting factors  
Lecture 6: Approaches to budgeting, standard costing and variance analysis  
Lectures 7 & 8: Standard costing and variance analysis  
Lecture 9: Financial performance appraisal  
Lecture 10: Non-financial performance appraisal  
Lecture 11: Transfer pricing  
Lecture 12: Revision

This will be a practical module where the time invested by students in understanding the concepts introduced in lectures and practicing exam style questions in seminars will be of paramount importance. Any additional reading will not be onerous and students would be directed as to where to focus their efforts. They would not be expected to do research outside of what the module leader recommends.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.