Module: Accounting for Business Decision Making

Module Specifications.

Current Academic Year 2024 - 2025

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Date posted: September 2024

Module Title	Accounting for Business Decision Making
Module Code	AC570 (ITS) / ACC1020 (Banner)
Faculty	DCU Business School	School	DCU Business School
Module Co-ordinator	Alan McMahon
Module Teachers	Aideen O'Dochartaigh, Patrick Mulcahy, Ruth Mattimoe, Thomas McCluskey
NFQ level	9	Credit Rating	5
Pre-requisite	Not Available
Co-requisite	Not Available
Compatibles	Not Available
Incompatibles	Not Available

Repeat examination
Array

Description

This module provides students with an introduction to and overview of financial and management accounting. Students will be introduced to key topics in accounting such as financial statement analysis, cost volume profit analysis, basic investment appraisal tchniques, performance measurement, financial v management accounting and cash flow analysis. In addition, students will address core issues facing the professional accountant such as corporate governance, earnings management, the regulatory environment and models of both short term and long term decision making and performance appraisal. Students will undertake a significant group based continuous assessment focusing on the techniques of financial statement analysis and informed investment decision making. The module is delivered via a serious of lectures.

Learning Outcomes

1. Outline the fundamental principles underlying the preparation of financial statements
2. Understand planning and control techniques and be able to prepare simple budgets.
3. Describe and explain the main tools of performance measurement, including non-financial metrics.
4. Describe the main cost concepts used in management accounting
5. Discuss current issues in accounting including corporate governance and accounting regulation

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	24	Weekly lectures
Group work	50	Preparation for group-based continuous assessment.
Independent Study	18	Revision of lecture materials following lecture
Independent Study	33	Preparation for year-end examination.
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

Introduction to Accounting
Nature and purpose of accounting, users of accounting information, role of finacial accounting and management accounting and their inter-relationship, accounting information system, fundamental accounting concepts, desirable characteristics of accounting information, the current operating enviornment and the firms competitive strategies, uses and limitations of accounting information.

Financial Statement Analysis
Core financial statements, the annual report and its contents, Balance Sheet, Income Statement, Cash Flow Statement and how it differs from profit, directors report, corporate social responsibility, corporate governance, auditors report, relationship between accounting information, share price and company performance, limitations of financial statements, other information sources, exercises in the use of financial statement analysis using ratios and critical commentary focusing on profitability, efficiency, liquidity, gearing and investment, limitations of ratio analysis, regulation of accounting (legal, taxation, stock exchange and professional).

Planning and Decision Making
Long-term and short -term planning, translating strategy into financial plans, financial analysis in typical decision-making situations including Cost-Volume Profit Analysis.

Control and Performance Measurement
The nature of performance and control, the role of budgets, budget period, budget administration, budgetary process, master budget and the various individual budgets, interrelationship of budgets, effective budgeting, problems associated with budgeting, different types of controls, controls at organizational level, responsibility centres, management accounting control systems, critique of using profit as a performance measure and the need for alternative, non-financial indicators, critical success factors and the Balanced Scorecard, performance measurement for various sectors, how firm dependent factors and industry based factors can effect a firms performance measurement and management. Dysfunctional consequences of performance measurement.

Corporate Governance and the Regulatory Framework of Financial Reporting
Board's responsibilities for the management of stakeholders' interests. The separation of CEO and Chairman. The role of non-executive directors. The roles of audit committee, remuneration committee, risk committee and examinations committee. Directors' remuneration. The agency implications of performance-related pay.

Assessment Breakdown
Continuous Assessment	30%	Examination Weight	70%

Type	Description	% of total	Assessment Date
Course Work Breakdown
Assignment	Group Project involving students forming into groups and conducting an evaluation of either a firm over a number of periods or a number of firms in a specific period using financial ratios and other tools of financial analysis to assess performance.	30%	Week 8

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

Peter Atrill,Eddie McLaney: 2018, Accounting and Finance for Non-Specialists, Pearson Higher Ed, 9781292244051
Collier, P.M.: 2015, Accounting for Managers, 5, Wiley, 9781119097
Philip O'Regan: 2016, Financial information analysis for Managers, Wiley, Chichester, 978-0-471-48923-8
Carsten Rohde,W. B. Seal: 2018, Management Accounting, 6, UK Higher Education Psychology Psychology, 9780077185534

Other Resources

None