Management Accounting
12 ECTS
Management Accounting
Get 70% back via Tax Credit
€385 refund on this module
Module Description
In this module the learner is introduced to management information and its aims.
The purpose of management accounting is to assist management in goal setting, strategy, operations, controls, performance appraisal and decision making.
This module is designed to furnish students with a wide array of skills for the students to be in a position to draft relevant management accounting reports for internal decision-making purposes. Cost accounting is also explored in this module; it addresses the importance of standard costing, budgeting, and variance analysis for the organising and managing of business activities.
The learner will also be introduced to the monitoring and assessing of an entity and its activity.
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:
- Gain an overall understanding of management accounting.
- Outline the full absorption costing methods.
- Examine the inventory and process costing.
- Analyse activity-based costing.
- Explain cost volume profit analysis.
- Appraise the importance of information in decision-making.
- Gain an overall understanding of pricing.
- Demonstrate knowledge and understanding of budgeting and control.
- Apply appropriate knowledge and understanding of using non-financial performance measures.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following indicative content:
- Gain an overall understanding of management accounting.
- Outline the full absorption costing methods.
- Examine the inventory and process costing.
- Analyse activity-based costing (ABC).
- Explain cost volume profit analysis.
- Appraise the importance of information in decision-making.
- Gain an overall understanding of pricing.
- Demonstrate knowledge and understanding of budgeting and control.
- Apply appropriate knowledge and understanding of using non-financial performance measures.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Identify success drivers of an organisation so as to be in a position to apply relevant techniques to contribute towards continuous improvement.
- Evaluate the importance of non-financial information which is necessary to be used in conjunction with quantitative information.
- Acquire a bird’s eye view of firm’s processes, procedures, functions, activities and divisions.
- Analyse expenses and income and comprehend their contribution towards strategic and operational decisions.
- Prepare budgets and communicate their purpose in planning and control.
- Apply variance analysis techniques to be in a position to deliver feedback in view of performance and control.
- Define and critically discuss various investment appraisal techniques
- Draft and interpret reports to so as to improve the 3 Es of an organisation: economy, efficiency, and effectiveness.
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:
- Appraise the changing responsibility of the management accountant.
- Perform accurate calculations utilising a broad range of management accounting techniques to help in the decision-making purposes.
- Evaluate performance within the organisation particularly operational performance using various tools such as the balanced score card.
Module-Specific Digital Skills and Competences:
At the end of the module/unit, the learner will be able to:
- Make use of IT and external data which might be available e.g., customer satisfaction surveys/reports from financial journals for decision-making purposes.
- Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.