Module ACCT40415: FINANCIAL PLANNING AND CONTROL

Department: Accounting

ACCT40415: FINANCIAL PLANNING AND CONTROL

Tied To

• L1T509: Accounting
• N2P209: Management (Finance)
• N2P309: Management (Entrepreneurship)
• N2P609: Management (International Business)

Pre-requisites

Corequisites

Excluded Combinations

Aims

• The module aims to:
• develop students' knowledge and understanding of the financial control processes of business and their systems context;
• develop students' knowledge and understanding of key aspects of management accounting connected with planning, control and decision-making in organisations;
• develop students' skills relevant to management accounting practice i.e. preparing, interpreting, and presenting essential financial information for management control and decision making.

Content

• Management accounting contextualised
• Cost terms, concepts, classifications and behaviour
• Cost-volume-profit relationships and analysis
• Profit reporting under absorption and marginal costing
• Decentralisation and segment reporting
• Activity-based costing (ABC)
• Relevant costs for decision making
• Budgeting for planning and control
• Capital investment decisions
• Pricing and intra-company transfer pricing
• Strategic management accounting and the balanced scorecard

Learning Outcomes

• Understanding of the context of the information needs of management and the role of the management accountant
• Knowledge of the behaviour of costs associated with the production of products and provision of services and ability to use this to determine prices
• Knowledge of budgeting and forecasting techniques for planning and control
• Knowledge of different management decision-making techniques
• Appreciation of key performance measurement and management approaches

• Able to calculate relevant costs for decision making
• Able to price products and services under different pricing strategies
• Able to select appropriate budgeting approaches and methods, prepare budgets and evaluate the role of budgeting in effective management control
• Able to select appropriate performance measures and calculate differences between actual performance and standards or budgets
• Able to identify and calculate relevant data for use in management decision making
• Able to use management information to make business decisions

• Written Communication;
• Planning, Organising and Time Management;
• Problem Solving and Analysis;
• Using Initiative;
• Numeracy;
• Computer Literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• The module will be delivered by a combination of lectures, seminars/workshops, case studies and guided reading appropriate for conveying the specialist knowledge and skills set out in the learning outcomes.
• The summative written examination will test students' knowledge and understanding of the material covered in the module, their analytical and problem-solving skills.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Online test. Additional formative assessment, and feedback, may take a number of forms such as oral feedback on work prepared by students for seminars; answers to questions either discussed during a seminar or posted online.