| CODE | ACC3221 | ||||||||
| TITLE | Fundamentals of Management Accounting | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Accountancy | ||||||||
| DESCRIPTION | Rationale & Learning Objectives This study-unit aims to give students a thorough understanding of the fundamental principles and techniques of management accounting. It will emphasise the decision-support role of management accounting and how the various techniques can contribute to valid information to decision-makers. By the end of this study-unit students should be able to: 1. Describe the differences between management accounting, cost accounting and financial accounting. 2. Measure the profit impact of different approaches to sales and production using CVP techniques. 3. Identify relevant costs in short-term decision-making situations. 4. Generate reports which take into account the uncertainty surrounding organisational decision making. 5. Analyse the performance of an organisation using advanced variance analysis. Indicative Syllabus & Study-unit Outline • Differences between management accounting and cost accounting • Differences between management accounting and financial accounting • Cost volume profit analysis • Measuring relevant costs for short-term decision-making • Activity-based costing – further aspects • Decision-making under conditions of risk and uncertainty • Advanced standard costing and variance analysis Reading List Main text Colin Drury, Management & Cost Accounting, 7th edition, Cengage Supplementary Reading Terry Lucey, Management Accounting, 5th edition, Continuum. |
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| RULES/CONDITIONS | Before TAKING THIS UNIT YOU MUST TAKE ACC2971 | ||||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Emanuel Camilleri |
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The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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