Second year module
Lecturer: Mathew Tsamenyi
The uses of management accounting techniques in job and process productions; joint and by-product decisions; budgetary control; responsibility controls; and standard costing and variance analysis.
Learning outcomes
By the end of the module students should be able to:
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Prepare journal and ledger accounts for job order costing systems
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Apply costing techniques to organisations engaged in process production and be able to prepare process, normal loss, abnormal loss and abnormal gain accounts; and value closing stock of work-in-progress using different stock valuation methods
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Present relevant financial information for decisions relating to joint and by-products.
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Understand the roles of budgetary control systems in different types of organisations and be able to prepare various budgets.
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Understand the role of standard costing techniques and be able to prepare variance analysis statements.
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Recognise the limitations of budgetary control and standard costing systems in today’s dynamic business environment.
Assessment
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2 hr written exam (75%)
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Class test (25%)