| CODE | IFS0305 | ||||||||
| TITLE | Introduction to Accounts 2 | ||||||||
| UM LEVEL | 00 - Mod Pre-Tert, Foundation, Proficiency & DegreePlus | ||||||||
| MQF LEVEL | 4 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Business Studies | ||||||||
| DESCRIPTION | This study-unit builds upon Accounts 1 and provides a broad introduction to the fundamentals of cost/management accounting. This study-unit will discuss the two inter-related business aspects of planning and control by examining how budgets are prepared and how a budgetary control system is established. The study-unit will also look into activity-based costing techniques and examine their implications for a firm's costing and pricing strategy. Theoretical issues are illustrated by reference to practical examples and are supplemented by exercises in both classroom situations and small tutorial groups. Students who follow this study-unit should be better equipped to cope with their first year studies in financial control. Study-Unit Aims: The aims of this study-unit are to: - introduce students to activity-based costing and examine the implications of ABC for pricing purposes; - guide students on how to prepare budgets and establish a budgetary control system; - provide students with the necessary computational skills to compare actual with budgeted outcomes and extract relevant variances. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - recognise the framework of activity-based costing; - evaluate the implications of activity-based costing for pricing strategies; - identify how budgets (especially cash budgets) are prepared and budgetary control systems are established. 2. Skills: By the end of the study-unit the student will be able to: - calculate the cost of a product or service using activity-based costing; - prepare a cash budget; - prepare a rudimentary budgetary control system. Main Text/s and any supplementary readings: - Accounting for Non-Accounting Students (8th edition), John R. Dyson (2010) FT Prentice Hall. ISBN: 10: 0-273-72297-2. ISBN-13: 978-0-273-72297-7. - Accounting (3rd edition), Michael Jones (2013) John Wiley & Sons Ltd. ISBN-10: 1-119-97718-5. ISBN-13: 978-1-119-97718-6. |
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| STUDY-UNIT TYPE | Lecture, Independent Study & Tutorial | ||||||||
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| LECTURER/S | Paulanne Mamo |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
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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