Module: Introductory Accounting for Planning & Control

Module Specifications.

Current Academic Year 2024 - 2025

All Module information is indicative, and this portal is an interim interface pending the full upgrade of Coursebuilder and subsequent integration to the new DCU Student Information System (DCU Key).

As such, this is a point in time view of data which will be refreshed periodically. Some fields/data may not yet be available pending the completion of the full Coursebuilder upgrade and integration project. We will post status updates as they become available. Thank you for your patience and understanding.

Date posted: September 2024

Module Title	Introductory Accounting for Planning & Control
Module Code	AC130 (ITS) / ACC1004 (Banner)
Faculty	DCU Business School	School	DCU Business School
Module Co-ordinator	Barbara Flood
Module Teachers	-
NFQ level	6	Credit Rating	5
Pre-requisite	Not Available
Co-requisite	Not Available
Compatibles	Not Available
Incompatibles	Not Available

Repeat examination

Description

The objective of this module is to introduce students to core concepts of management accounting and to develop their understanding of key management accounting approaches, practices and techniques which enable planning and control activities within organisations. Students will learn how to prepare, analyse, interpret, critically evaluate and use data for budgetary control and performance management. The knowledge and skills developed in this module are highly relevant to the world of accounting work and to students’ future careers as professional accountants or in other accounting and finance roles.

Learning Outcomes

1. Explain the nature, scope and role of management accounting in organisations, recognising key contemporary organisational concerns (e.g. sustainability, ethics, responsible business, globalisation, etc).
2. Differentiate and apply key cost terms, concepts and classifications.
3. Discuss the role of management accounting in organisational planning and control (performance management) and elaborate budgetary control concepts.
4. Prepare functional budgets and the master budget (including a budgeted statement of profit and loss, a budgeted statement of financial position and a cash budget).
5. Outline and apply the principles of standard costing.
6. Calculate and interpret cost variances (materials labour, variable overhead, fixed overhead) and sales variances.
7. Prepare flexible budgets, reconcile actual and budgeted performance and discuss different tools which can be used to interpret financial performance).
8. Explain the role of non-financial performance measurement and evaluate new tools which combine financial and non-financial performance management, such as the Balanced Scorecard.

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	24	Attendance at weekly lectures in Semester 1 and 2.
Tutorial	15	Attendance at tutorials (weekly from Week 5 in Sem 1).
Group work	20	Working on group assignment
Independent Study	40	Recommended independent study each week - preparing for and reviewing material covered in lectures, reading assigned chapters in textbook, completing quizzes, completing recommended practice questions, attempting tutorial questions in advance etc.
Independent Study	26	Revision in preparation for final exam.
Total Workload: 125

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

The nature, role and scope of management accounting in organisations
The nature of management accounting and the need for management accounting information; the differences between and, overlap of, management accounting and financial accounting; the dynamic internal and external operating environment of management accounting; ; the range of organisations in which management accounting plays a role, i.e. profit-making v not-for-profit organisations; designing management accounting systems; a management accounting perspective on corporate governance, professional and business ethics.

Cost terms, concepts and classifications
The nature of costs; cost objects and the purpose of cost classification; alternative cost classifications including: elements of manufacturing costs, period v product costs, cost behaviour (fixed, variable, stepped-fixed, mixed).

Budget setting
The role of management accounting in organisational strategic planning and control; the nature and purpose of budgets; types of budgets – long-term v short-term, capital v revenue budgets; approaches to budget-setting –incremental budgeting, zero-based budgeting, rolling forecasts etc; the budgeting process - budget period, critical budget factors and budget assumptions, the annual budget cycle, organisation and administration of budgeting. Preparation of functional budgets (sales, materials, labour, overhead, inventory etc); preparation of the master budget including the budgeted P&L account, statement of financial position and cash budget. Advantages and criticisms of budgeting.

Standard costing and an introduction to variance analysis
The purpose of standard costing; responsibility accounting and management by exception; types of standards and setting standard costs; a general model for variance analysis; calculating and interpreting price and efficiency variances for materials, labour and variable overhead; advantages of standard costing and potential challenges.

Flexible budgets, more detailed variance analysis, and reconciling actual and budgeted performance
Flexing the budget and the identification of the flexible budget and volume variances; calculating and interpreting more advanced cost variances (e.g. fixed overhead variances; mix and yield variances concerning materials and labour efficiency) and sales variances (including mix and yield); planning and operating variances; reconciliation of budgeted to actual profit/contribution; appreciation of the significance of variances and possible reasons for occurrence; variance investigation and analysis tools.

Holistic performance management – financial and non-financial performance measures
Behavioural issues associated with budgetary control; holistic approaches to organisational performance management (combining financial and non-financial information), including the Balanced Scorecard.

Assessment Breakdown
Continuous Assessment	30%	Examination Weight	70%

Type	Description	% of total	Assessment Date
Course Work Breakdown
Completion of online activity	Completion of four smartbook reading assignments from core textbook on Connect platform	10%	As required
Group assignment	Group enterprise planning project: Report involving idea generation, budget setting and evaluation and preparation of an elevator pitch (poster/post)	20%	Week 21

Reassessment Requirement Type
Resit arrangements are explained by the following categories: Resit category 1: A resit is available for both* components of the module. Resit category 2: No resit is available for a 100% continuous assessment module. Resit category 3: No resit is available for the continuous assessment component where there is a continuous assessment and examination element.
* ‘Both’ is used in the context of the module having a Continuous Assessment/Examination split; where the module is 100% continuous assessment, there will also be a resit of the assessment
This module is category 1

Indicative Reading List

Seal, W; Rohde, C., Garrison, R. H and Noreen, E.W.: 2019, Management Accounting, 6th, McGraw Hill, Glasgow, 10 0077185536
Burns, J., Quinn, M., Warren, L., Oliveira J.,: 2013, Management Accounting, McGraw Hill,
Drury, C.: 2018, Management and Cost Accounting, 10th, Cengage Learning,
Clarke, P.: 2016, Managerial Accounting: Costing, Decision Making & Control, Chartered Accountants Ireland,

Other Resources

58509, On-line platform, McGraw Hill, 0, McGraw Hill Connect,