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 PRINCIPLES OF MANAGEMENT ACCOUNTING
Code ACUL602
Coordinator

 
Year CATS Level Semester CATS Value
Session 2021-22 Level 5 FHEQ First Semester 10

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

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 56

         2

 58
Timetable (if known)              
Private Study 42
TOTAL HOURS 100

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Written assessment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester one  2 hours    100       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

To develop knowledge and understanding of management accounting techniques to support management in planning, controlling, decision making and monitoring performance in a variety of business contexts.

Learning Outcomes

(LO1) Students will be able to explain the nature, scope and purpose of management information, including any ethical issues relating to the preperation, presentation and interpretation of this information;

(LO2) Students will be able to establish the costs associated with the production of products and provision of services, and explain and demonstrate the key approaches to accounting for costs;

(LO3) Students will be able to establish the price of products and provision of services using cost based methods;

(LO4) Students will be able to select and explain appropriate budgeting approaches and methods and prepare budgets and forecasts;

(LO5) Students will be able to calculate differences between actual performance and standards or budgets using Students will be able to calculate differences between actual performance and standards or budgets using variance analysis and identify possible reasons for those differences;

(LO6) Students will be able to identify and explain the key features of effective performance management systems and explain and apply appropriate financial and non-financial performance measures to monitor business performance;

(LO7) Students will be able to identify and calculate relevant data for use in management decision making.

(S1) Adaptability

(S2) Problem solving skills

(S3) Numeracy

(S4) Commercial awareness

(S5) Organisational skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Interactive lectures
Description: Full day lectures
Attendance Recorded: Yes
Notes: Modules have been timetabled in such a manner as to provide intensive periods of teaching alternated with periods for self-study and reflection. The direct student contact hours are substantial across the modules in order to ensure sufficient material coverage to secure planned professional body exam exemptions.

Teaching Method 2 - Formative Feedback (e.g. peer, revision sessions)
Description: Formative progress test
Attendance Recorded: Yes

Self-Directed Learning Description: Follow-up suggested work and wider reading

Syllabus
 

The nature, scope and purpose of management information, including ethics;

Costing and cost accounting techniques;

Pricing;

Budgeting and forecasting;

Standard costing;

Performance measurement and management;

Management decision making.

Library resources will be accessible through 'Reading Lists @ Liverpool' Vital will be used to support the course. Practice question and solutions will be provided.

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