Registry
Module Specifications
Archived Version 2021 - 2022
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Description The aim of the module is to develop business students' understanding of the role of management and financial accounting in organisations. The management accounting component will develop students' competencies in using internal accounting information for planning, control and decision making purposes. The financial accounting component will support students in analysing, understanding and using financial statements. | |||||||||||||||||||||||||||||||||||||
Learning Outcomes 1. Explain the role of the financial accountant, management accountant as well as the internal and external auditor. 2. Explain how management accounting supports the management team of an organisation in the activities of planning, performance evaluation, decision-making and costing. 3. Describe the budgeting process and prepare basic budgets. 4. Be able to explain the purpose and process of product costing and compute basic product costs. 5. Define and outline the conceptual framework of accounting, including the objectives, characteristics and users of financial accounting information. Develop a basic understanding of accounting rules as well as the limitations of financial accounting information. 6. Describe how business transactions are reflected in the books of a business entity and show the impact of transactions on the Income Statement and Statement of Financial Position. 7. Analyse and critically evaluate financial statements using accounting ratios and other data. | |||||||||||||||||||||||||||||||||||||
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 |
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Indicative Content and
Learning Activities See detailed descriptors in 'Indicative description' box.Introduction to Financial and Management Accounting: Explain the role of financial accounting, the role of management accounting, the differences in both roles and the relationship between each other and with other disciplines and business functions; Understanding the role management accounting in organisations: Nature and purposes management accounting; responding to the challenges of the business environment; Management accounting terms and concepts: Nature of cost; cost objects; cost classifications for product costing, planning, control and decision making. Planning: Nature of budgets; budget period; budget setting process; preparation of functional budgets and cash budgets; flexing the budget. Product costing: The need for product costs for external reporting purposes; the process of determining product costs; allocating overhead using absorption costing; an introduction to activity based costing as an alternative to absorption costing. Financial accounting terms and concepts: conceptual framework, profits versus cash, Understanding of accounting rules and limitations of financial accounting information. Income Statement and Statement of Financial Position: understand how transactions are reflected in the books of a business entity and show the impact of transactions on the Income Statement and Statement of Financial Position. Financial Analysis: Analyse and critically evaluate financial statements using accounting ratios and other data. Role of the Audit: Role of internal and external auditor and relation between management and financial accounting and auditing. | |||||||||||||||||||||||||||||||||||||
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Indicative Reading List
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Other Resources None | |||||||||||||||||||||||||||||||||||||
Programme or List of Programmes | |||||||||||||||||||||||||||||||||||||
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