Management Accounting Introduction of the Unit LO 2: Investment AppraisalMethods criticalreading and writing Bailey plc commence…

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ICON COLLEGE OF TECHNOLOGY AND MANAGEMENTPearson BTEC HND in Business (RQF)Unit 5 Management AccountingScheme of WorkSession: September 2020
This unit is aimed at achieving the following learning outcomes:LO1: Demonstrate an understanding of management accounting systemsLO2: Apply a range of management accounting techniques.LO3: Explain the use of planning tools used in management accountingLO4: Compare ways in which organisations could use management accounting to respond to financial problems
Programme Title:
TNA67 Pearson BTEC HND in BusinessLevel:4
Unit number and Title
Unit 5
Management Accounting
Unit Type
Unit Level and Credit Value
Level 4
15 Credit
Learning Outcomes
Session Activities
Session 1Lecture 2 hoursTutorial 2 hours
LO1: To introduce the Unit’scontent and the Unitassessment
Introduction to the Unit learning outcome, Syllabus, andassignment briefing Reading, Academic Skill, citation andreferencing, group formation.
Session 2Lecture 2 hoursTutorial 2 hours
LO1: Demonstrate anunderstanding of managementaccounting systems
Introduction to management accounting:Definition of management accounting andsystems; importance of integrating thesewithin the organisation. Origin, role andprinciples of management accounting;distinction between financial accountingSample activities:Mini case report writing on variance analysisGroup activity: Events and epochs in the developmentof management accounting and the relevantmanagement accounting principles based on Johnsonand Kaplan (1987), post-war Japanese QualityManagement, Marketing and Strategic Managementera to modern IT-driven Integrated Planning andProduction and CIM
Session 3Lecture 2 hoursTutorial 2 hours
LO1: Demonstrate anunderstanding of managementaccounting systemsTopic:Different types of managementaccounting systems
Management accounting systems:Cost-accounting systems, inventory managementsystems, job-costing systems and price-optimisingsystemsSample activities:Question and answer activity on types of managementaccounting systemsGroup activity – Whether any or all of these systems fitJohnson and Kaplan’s “Lost Relevance” and why
Session 4:Lecture 2 hoursTutorial 2 hours
LO1: Demonstrate anunderstanding of managementaccounting systemsTopic:Presentation of financialinformation
Why information should be relevant to the user, up todate, reliant and accurateWhy the way in which information is presented mustbe understandableDifferences types of managerial accounting reportsSample activities:Group activity – Relative merits and demerits of differenttypes of managerial accounting reports
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Class discussion – Why should financial informationpossess such attributes as relevance, reliability, timelessaccuracy and understandability?Formative FeedbackBrief tutor-led overview of assessmentrequirementsAcademic writing
Session 5:Lecture 2 hoursTutorial 2 hours
LO2: Apply a range ofmanagement accountingtechniquesTopic: Microeconomictechniques
What is meant by cost? Different costs and analysis.Cost-volume-profit analysis, flexible budgeting and costvariances.Applying absorption and marginal costingFormative feedback
Session 6:Lecture 2 hoursTutorial 2 hours
LO2: Apply a range ofmanagement accountingtechniquesTopic: Product costings
Fixed and variable costs, cost allocation..Normal and standard costing, activity-based costing(ABC) and role of costing in setting price.Group activity – Comparison of ABC and traditionalcosting methods (marginal and absorption costing
Session 7Lecture 2 hoursTutorial 2 hours
LO2: Apply a range ofmanagement accountingtechniquesTopic: Cost of inventory
Definition and meaning of inventory costs and differenttypes of invent costs.The benefits of reducing inventory costs.Valuation methods.Cost variances.Overhead costs.Sample activities:Question and answer activity on limitations of theeconomic order quantity method and how managers mayovercome these in applying the methodFormative feedback
Session 8Lecture 2 hoursTutorial 2 hours
LO3: Explain the use ofplanning tools used inmanagement accountingTopics:• Using budgets for planningand control• Pricing
Preparing a budget. Different types of budgets(e.g. capital and operating). Alternative methodsof budgeting. Behavioural implications of budgets.Pricing strategies. How do competitors determine theirprices? Supply and demand considerations.Sample activities:Class question and answer activity – Discuss thedifference between budgeting and budgetary controlGroup activity – Comparing and contrasting differentpricing strategies.Formative FeedbackBrief tutor-led overview of assessmentrequirementsAcademic writing
Session 9:Lecture 2 hoursTutorial 2 hours
LO3: Explain the use ofplanning tools used inmanagement accountingTopics:• Common costing systems• Strategic planning
Actual costing, normal costing and standards costingsystems. How cost systems differ depending on thecosting activity: job costing, process costing, batchcosting and contract costing.Applying PEST, SWOT, balance scorecard or Porter’sFive Forces analysis to the financial position of anorganisation.Sample activities:Question and answer activity – what are the strengths
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weaknesses of PESTEL analysis?Group discussion – How costing systems differ on thebasis of costing activity
Session 10:Lecture 2 hoursTutorial 2 hours
LO4: Common ways in whichorganisations could usemanagement accounting torespond to financial problemsTopics:• Identifying financialproblems• Financial governance• Management accountingskills set• Effective strategies andsystems
Using benchmarks. Key performance indicators (financialnon-financial) and budgetary targets to identify variancesand problems.Definition of financial governance and how these can beused to pre-empt or prevent financial problems. Usingfinancial governance to monitor strategy.What are the characteristics of an effective managementaccountant? How can these skills be used to preventand/or deal with problems?The development of strategies and systems which requireeffective and timely reporting, full disclosure of financialpositions and are responsibly owned and governed.Sample activities:Group activity – Usefulness of financial governance inmonitoring strategy.Class discussion – Are non-financial performanceindicators as important as financial indicators inperformance management and control?Formative feedback
Session 11-12Lecture 2 hoursTutorial 2 hours
Revision Session
Reserve class to cover any missing class and revision.
Session 13
Study weekFormative feedback
Session 14
Final Assignment Submission
Page 4 of 5Pearson Edexcel Standard Verifier (EE): TBAStandard Verifier (EE): Visit Date: TBARecommended ReadingText Books:Bailey, S. (2011), Academic Writing – A Handbook for International Students, London, RoutledgeBurns, T. and Sinfield, S (2016), Essential Study Skills: The Complete Guide to Success at University, LosAngeles, SAGE.Drury, C. (2015), Management and Cost Accounting. 9th Ed., London: CengGe Learning.Edmonds, T. and Olds, P. (2013), Fundaments of Managerial Accounting Concepts. 7th Ed., Maidenhead:McGraw-Hill.Horngren, C, Sunden, G, Stratton, N, Burgstalher, D, and Schatzcerg, J. (2013), Introduction toManagement Accounting. Global Ed. Harlow: Pearson.Seal, W, et el. (2014), Management Accounting. 5th Ed., Maidenhead: McGraw-Hill.Swales, J. M and Feak, C, B. (2012), Academic Writing for Graduate Students, Ann Abor, The University ofMichigan.Articles OnlineJohnson, H. Thomas; Kaplan, Robert S. (1987). Relevance Lost: The Rise: and Fall of ManagementAccounting, Management Accounting; Jan 1987; 68, 7; ABI/INFORM Global pg. 22, P C (2017). Redefining Management Accounting, IFAC Maina Waweru (2010). The origin and evolution of management accounting: a review of thetheoretical framework. Problems and Perspectives in Management (open-access) from Books OnlineAn introduction to management and cost accounting: cost terms, systems design and cost behaviour 2 Management Accounting Business Review (available in ICON Library)Economist (available in ICON LibraryNews PapersThe Financial Times Business Standard Business 5 of 5CITY A.M. Business Resources:Student Portal: HN GlobalPlease access HN Global for additional resources support and reading for this unit. For further guidanceand support on presentation skills please refer to the Study Skills Unit on HN Global. Link to:

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