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Module Code - Title:

AC4214 - ACCOUNTING FOR FINANCIAL DECISION MAKING

Year Last Offered:

2020/1

Hours Per Week:

Lecture

2

Lab

1

Tutorial

1

Other

0

Private

6

Credits

6

Grading Type:

N

Prerequisite Modules:

Rationale and Purpose of the Module:

This module introduces non-business students to the fundamental concepts and practices of management accounting and finance. It provides students with the skills and knowledge necessary to identify the relevant financial information required to manage the financial and operating resources of a business.

Syllabus:

This module is structured to provide non-business students with a basic understanding of both management accounting and finance. Management accounting provides information for product/service costing and profit determination in addition to information for planning, control and decision-making. Finance is concerned with the ways in which funds for a business are raised and invested. The topics covered include the relationship between financial and management accounting, costing, budgeting, short-term decision making, strategic management accounting, sources of finance, investment appraisal and management of working capital. This module is designed to be a prerequisite for the module AC4417 Management Accounting 1.

Learning Outcomes:

Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)

On successful completion of this module, students should be able to: Identify and quantify the costs and revenues that are relevant to a particular decision and help in promoting the organizations strategic objectives; Compute and evaluate cost-volume-profit relationships in single and multiple product situations; Calculate the full (absorption) cost of a unit of output using the traditional approach and discuss its usefulness to management Assess how management techniques such as activity-based costing, life-cycle costing, target costing, pricing and the balanced scorecard can be used by organizations in a competitive environment; Discuss the budgeting and management control framework and construct a master-budget; Identify, discuss and apply the four main capital investment appraisal methods; Describe and evaluate the main sources of finance available to a business; Explain the main elements of working capital and summarise the key factors that need to be taken into account when managing each element.

Affective (Attitudes and Values)

N/A

Psychomotor (Physical Skills)

N/A

How the Module will be Taught and what will be the Learning Experiences of the Students:

This module will be delivered by a series of lectures, tutorials and laboratory sessions. Students will be expected to purchase the prescribed textbook and use the student access kit to avail of the extensive online supporting material. They will be expected to ulitlise the MyAcccounting Lab software, complete assigned homework online and use excel to construct a master budget. They will, also, be expected to undertake a mid-term computer based examination and an end of term written examination.

Research Findings Incorporated in to the Syllabus (If Relevant):

Prime Texts:

McLaney, E. and Atrill, P (2008) Accounting, An Introduction, 4th ed. , Pearson Education

Other Relevant Texts:

Atrill, P. and McLaney, E. (2006) Accounting and Finance for Non-Specialists, 5th ed. , Pearson Education
Davies, T. and Boczko, T. (2005) Business Accounting and Finance, 2nd ed. , McGraw-Hill
Gowthorpe, C. (2005) Business, Accounting and Finance for Non-Specialists, 2nd ed. , Thomson Learning
Power, T., Walsh, S. and O`Meara, P. (2005) Financial Management, An Irish Text, 2nd ed. , Gill and Macmillan

Programme(s) in which this Module is Offered:

Semester - Year to be First Offered:

Spring - 08/09

Module Leader:

vanessag.egan@ul.ie