Advanced Management Accounting
Run by Bangor Business School
20 Credits or 10 ECTS Credits
Semester 1 & 2
Organiser: Ms Wendy Ashurst
Overall aims and purpose
NOTE: This module is only available to Year 3 direct entry and Bridging Degree students.
To develop knowledge, understanding and computational skills in the application of a range of management accounting techniques and their role within an organisation.
Costings, budgets and pricing; Throughput accounting; Budgetary systems; Advanced standard costing; Performance measurement; Application of advanced management accounting techniques in organisations.
Techniques are applied mechanically with few errors but with only limited additional insight beyond basic lecture content. There is limited evidence of reading beyond the main course text.
Techniques are applied methodically and some consideration is shown to the organisational context. There is evidence of more widespread reading but there may still be some lack of sophistication in the matching of techniques to problems.
A high level of computational competence is backed by detailed analysis of problems and consideration of the appropriateness of the techniques used. There is evidence of widespread reading together with an innovative and insightful solution to the demands of the organisational environment.
Evaluate and apply the different management accounting techniques used in planning, control and decision-making within organisations.
Discuss how management accounting can provide support for corporate strategic aims.
Critically evaluate and also apply a range of specialist cost and management accounting techniques.
Critically evaluate and discuss in depth the application of a variety of budgetary systems in various organisations.
Evaluate and discuss basic and advanced variances in a standard costing system. Calculate the variances including mix and yield and planning and operational variances and discuss the impact on the company.
Evaluate the measurement of organisational and divisional performance in the private and public sectors, including an explanation of the effect of transfer pricing methods upon organisational and divisional making and be able to calculate the returns
|EXAM||Exam S2 2hrs||55|
|EXAM||Examination S1 2hrs||45|
Teaching and Learning Strategy
One 2-hour lecture per week.
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Information retrieval - Able to access different and multiple sources of information
- Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
- Mentoring - Able to support, help, guide, inspire and/or coach others
- Management - Able to utilise, coordinate and control resources (human, physical and/or financial)
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
- Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others
- Leadership - Able to lead and manage, develop action plans and objectives, offer guidance and direction to others, and cope with the related pressures such authority can result in
Subject specific skills
- knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
- knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
- knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
- skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
- knowledge of contemporary theories and empirical evidence concerning accounting in at least one of its contexts (for example, accounting and capital markets; accounting and the firm; accounting and the public sector; accounting and society; accounting and sustainability) and the ability to critically evaluate such theories and evidence age
- Abstraction. From the study of economic principles and models, students see how one can abstract the essential features of complex systems and provide a useable framework for evaluation and assessment of the effects of policy or other exogenous events. Through this, the typical student will acquire proficiency in how to simplify while still retaining relevance. This is an approach that they can then apply in other contexts, thereby becoming more effective problem-solvers and decision-makers.
- Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
- An appreciation of the nature of the contexts in which finance can be seen as operating, including knowledge of the institutional framework necessary for understanding the role, operation and function of markets and financial institutions (e.g. the economic, legal, regulatory and tax environment, both national and international; the firm; the capital markets and the public sector).
- People management: to include communications, team building, leadership and motivating others.
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Commercial acumen: based on an awareness of the key drivers for business success, causes of failure and the importance of providing customer satisfaction and building customer loyalty.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
- Ability to work with people from a range of cultures.
- Articulating and effectively explaining information.
- Building and maintaining relationships.
- Communication and listening including the ability to produce clear, structured business communications in a variety of media.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
- Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
- Self reflection: self-analysis and an awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.
Courses including this module
Compulsory in courses:
- N400: BA Accounting and Finance year 3 (BA/AF)
- N401: BA Accounting & Finance (with International Experience) year 4 (BA/AFIE)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 3 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 3 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 4 (BSC/ACCFINIE)
- N406: BSc Accounting and Finance (Bangor International College) year 3 (BSC/BICAF)
Optional in courses:
- NQ26: BA Astudiaethau Busnes a Chymraeg year 3 (BA/ABCH)
- NG10: BA Business and Computer Information Systems year 3 (BA/BCIS)