Module ACCT404JN: FINANCIAL PLANNING AND CONTROL

Department: Accounting

ACCT404JN: 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’ understanding of the financial control processes of business and their systems context;
• enable students to prepare and interpret essential financial information for management control and decision making;
• develop students' understanding of the centrality of management accounting information to wealth creation.

Content

• 1. Understanding Cost Behaviour.
• 2. Strategic Planning and Short term Budgeting.
• 3. Resource Allocation and Capacity Costs and Pricing Decisions.
• 4. Activity Based Costing Systems and Activity Based Management.
• 5. Financial Measures of Performance, non-financial measures of performance and performance reporting and management (e.g. Balanced Scorecard).
• 6. Incentive Measures and Performance.
• 7. Investment appraisal techniques

Learning Outcomes

• Understanding of the context of the information needs of management;
• 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 different methods of budgeting and forecasting;
• 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

Work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on DUO; feedback on discussions with teaching staff during consultation hours, or via e-mail.