B. Learning outcomes

ACCOUNTING AND FINANCE

ACC1011

INTRODUCTION TO MANAGEMENT ACCOUNTING & FINANCE

MODULE OUTLINE

2012-13

A. AIMS

To help students acquire a basic foundation of knowledge and skill in management accounting & finance.

B. LEARNING OUTCOMES

(i) Intended knowledge outcome

To help students acquire:

· understand the relevance of cost classification to planning, decision-making and control.

· understand the process of controlling, allocating and apportioning production costs of materials, labour and overheads to products and the implications on pricing.

· understand profits using absorption costing and marginal costing.

· explore the applications of cost-volume-profit analysis and the relationship between pricing decisions and cost considerations.

· examine the process of budgeting.

· understand standard costing, variance analysis and flexible budgeting.

· understand the main features of performance reporting.

· examine the goals and governance of corporations, and the role of the financial manager.

· understand the time value of money and the use of the present value technique.

· examine the valuation of stocks and bonds using present value calculations.

· examine investment appraisal problems using the net present value rule.

· be aware of alternative methods of investment appraisal used in business.

· understand simple models of working capital management.

· understand the concepts of dividends, costs of capital and gearing.

· examine the role of risk in valuation and investment appraisal.

· examine techniques for financial forecasting.

(ii) Intended skills outcome

To enable students to:

a) understand at an introductory level of the academic discipline of management accounting within its environmental context.

b) deal with various problems of accounting relating to internal management decision-making, planning and control.

c) apply recognised management accounting reporting practices to internal management.

d) develop analytical skills relating to valuation and financial management

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