Overview

To enable students to apply management accounting tools for pricing, budgetary control, cost allocation and performance evaluation as well as to familiarize them with decision making in the context of cost and management accounting.

The course will cover the following: • Decision making under uncertainty and/ or involving single/multiple scarce resources. • Budgeting techniques and alternative methods of budgeting, planning and control. • Standard costing systems, advanced variance analysis and discussion of remedial action. • Costing and Pricing strategies for businesses. • Performance Measurement in context of external considerations and behavioural aspects. • Working capital management with particular reference to Inventory and Accounts Receivables.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Analyse different budgetary systems across diverse organisations, incorporating the analysis of variances within a standard costing system.

• Analyse working capital management techniques to optimise financial performance within organisations.

• Apply a range of specialist management accounting techniques used in planning control and decision making within organisations, including target costing, life cycle costing, back-flush accounting, and throughput accounting.

• Apply appropriate techniques to solve single/multiple scarce resource problems.

• Examine the measurement of performance at both organisation and divisional levels, and the influence of transfer pricing methods on the decision-making process.