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.
The module is taught over 2 semesters and covers budgets and pricing for planning. Decision making including through put accounting. Standard costing and budgetary systems to help control the organisation and various aspects of performance measurement. These provide the student with the knowledge to apply advanced management accounting techniques in organisations.
D- to D+ (40-49%) 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.
B- to B+ (60-69%) 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- to A* (70% +) 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.
C- to C+
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.
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 S2 2hrs||55|
|Examination S1 2hrs||45|
Teaching and Learning Strategy
3 one hour workshops per semester for practicing questions
One 2-hour lecture per week.
Private Study to review module material from lectures and furhter reading from textbooks and the internet
- 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
- 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.
- 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
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
- 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.
- 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.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
- Articulating and effectively explaining information.
- Communication and listening including the ability to produce clear, structured business communications in a variety of media.
- Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
Talis Reading listhttp://readinglists.bangor.ac.uk/modules/asb-3507.html
Main Management and Cost Accounting 10th edition Colin Drury
Supplementary ACCA F5 Performance Management Complete text Kaplan Publishing