Performance Management
16 ECTS
Performance Management
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Module Description
This module builds upon the management accounting module. Hence it is centred on the planning and performance of the organisation including the use of technology to assist in the decision-making process.
Whereas in management accounting the candidates are aware of the technique in this module they would be asked to not only evaluate techniques but also select the best technique given a situation.
The module also covers the accompanying risks within the business, budgeting, different budgeting systems, techniques, and issues, as well as the different behavioural elements of budgeting. The module then goes on to navigate performance measurement and control placing an emphasis on the significance of financial and non-financial performance measures in management, and on the issues which arise when evaluating performance in divisionalised companies.
By the end of the module, the learner gains awareness of the difficulties that arise when external aspects affecting performance are not taken into consideration.
Entry Requirements
Candidates who apply for this course will possess:
• A related qualification at MQF Level 4
and/or
• Two ‘A’ Levels (MQF Level 4) or equivalent one of which should be related to Accounts, Business or Economics and a pass in English Language and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
• Preference will be given to applicants having 1 year work experience related to the study programme.
In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted in the course.
Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA Academy, so as to verify their experiences and prior learning.
Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.
Target Audience
- Individuals seeking to advance their academic and professional knowledge in Accounting.
- Individuals wanting to pursue a wide range of accounting, consulting, financial and managerial career paths.
- Individuals wanting to enhance their ability to interpret, assess and communicate financial related data.
Module / Unit Instructions
The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning. The structure uses primarily two dimensions of teaching-learning modes:
- Face to Face sessions
Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.
- Online Learning Activities
Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises. Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Module Intake Dates
October 2024
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Illustrate how organisations manage and measure performance and activity using information and technological developments.
- Examine and apply appropriate, specialist cost and management accounting techniques.
- Analyse decision-making techniques for better business decisions.
- Demonstrate knowledge and techniques of budgeting techniques and methods.
- Apply appropriate knowledge and understanding of measuring and controlling performance.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Illustrate how organisations manage and measure performance and activity using information, systems, and technological developments.
- Examine and apply appropriate, specialist cost and management accounting techniques.
- Analyse decision-making techniques for better business decisions.
- Demonstrate knowledge of budgeting techniques and methods.
- Apply knowledge and understanding of measuring and controlling performance.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Manage source and analyse information.
- Plan through the use of budgets.
- Analyse the relationship between cost, volume, and price.
- Perform ‘what if’ scenarios and providing responses on potential different circumstances .
- Assist with business decisions especially given the scarcity of resources and the inherent risks and uncertainties present.
- Exercise control through budgeting and variance analysis.
- Evaluate the importance of qualitative information.
Module-Specific Communication Skills:
At the end of the module/unit the learner will be able to:
- Communicate ideas, problems, and solutions effectively to both specialist and non-specialist audiences verbally or in writing (PowerPoint presentations, reports, etc.).
- Participate in class/online discussions and in organised workshops.
- Present ideas, work, and findings to peers, lecturers, and specialist and non-specialist audiences.
- Contribute to team work as required.
Module-Specific Learner Skills:
At the end of the module/unit the learner will be able to:
- Discuss how IT can assist with the measurement of performance of an organisation.
- Assess discrepancies from the budget and implement controls to avoid repetition.
Module-Specific Digital Skills and Competences:
At the end of the module/unit, the learner will be able to:
- Use technology to process data and convert such data to information.
- Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.