Bangor University

Transfer Abroad Undergraduate Programme

Module Implementation Plan

MODULE: / ACF-231 Management Accounting
ACF-232 Control & Decision Accounting / LECTURER: / Paul Wood
INTAKE: / 2013 / SEMESTER: / 5
ACTIVITY TYPES: / Lecture, presentation, exam, workshop

Start Date: Nov 09, 2015

End Date: Dec 04, 2015

Year / Semester / Academic weeks / Module Code / Module Name / Credits / Lecture hrs/week / Tutorial Hrs/week / Weeks
III / 2015
Fall / Week 10~13
2015/11/09—2015/12/04 / ACF-231 / Management Accounting / 10 / Mon-Fri*
1010-1200 / Mon-Fri*
1430-1520 / 4
ACF-232 / Control & Decision
Accounting / 10 / *might be slightly different, pls refer to detailed timetable later

Course Detail:

This module teaches students to apply judgment and techniques in the analysis of relevant data to provide management with information required to contribute to strategic planning, control and decision making situations. Students will require a good understanding of management accounting, and will be required to apply the principles and techniques covered in financial accounting. Understanding is assumed of how to interpret accounting information.

On completion of this module, the student should be able to understand the nature and purpose of management accounting, understand how to design a system and approach to management accounting to meet corporate objectives, identify information suitable for decision making, forecast and analyze financial statements full financial statements (Income, Balance Sheet and Cash Flow) including operational metrics, control and performance measurement in a variety of business situations, use management accounting systems in pricing and other decisions, and assess corporate performance based on information in financial reports

Assessment

Assessment Types / Date / Value
Mid-Term Exam / 20%
Case Study / 30%
Final Exam (must pass) / 50%
Week / Activity Type / Scheduled Contact Hours / Activity Details / Core Reading + Additional Reading + Practice Material / Learning Outcomes / Student Preparation for Tutorial
Week 01
Monday
Nov 09 / Lecture / 2 hr / Lecture 1
Introduction and overview of Managerial Accounting.
Introduction of Case Study / Prologue, Brewer
Search internet to learn how to obtain current and relevant corporate information / ·  The relevance of Managerial Accounting
·  Differences from Financial Accounting
·  Understanding of skills required for managers to succeed,
·  Ethics and Corporate Social Responsibility / Divide into groups of four.
Each group requires at least one laptop computer
Tutorial / 1 hr / Submit and approve working groups for Case Study
Review and Q&A on Case Study requirements
Tuesday
Nov 10 / Lecture / 2 hr / Lecture 2
Cost Classifications for:
·  Preparing financial statements
·  Predicting cost behavior
·  Cost objects and making decisions / Chapter 1, Brewer
Read Annual Report of selected company / ·  Identify 3 manufacturing cost categories
·  Understand Product vs Period costs
·  Understand cost behaviours & analysis
·  Income Statement preparation / For your chosen company, find and print:
-Most recent year end financial statements
-5 year stock chart
Tutorial / 1 hr / Presentation on Case Study company:
·  Description
·  Rationale
·  Outlook
Select paper stock portfolio
Wednesday
Nov 11 / Lecture / 2 hr / Lecture 3
Job-Order Costing
Excel refresher / Chapter 2, Brewer / ·  Understanding of in what circumstances a Job-Order Costing system is appropriate
·  Methods of accounting for inventory, direct labour and manufacturing overhead in a Job-Order Costing environment / Refresh Excel knowledge
Tutorial / 1 hr / Simplify financial statements (IS, BS, CF)
Prepare Excel workbook on Case Study
·  Balance Sheet
·  Income Statement
Thursday
Nov 12 / Lecture / 2 hr / Lecture 4
Activity-Based Costing
SWOT Analysis / Chapter 3, Brewer
Review Strategic Analysis from past courses / ·  Understanding of why ABC can be a superior decision making methodology and system
·  Understand impact of strategic analysis on decision making and forecasting / Review cash flow statements
Tutorial / 1 hr / Submit paper stock portfolios
Add to Excel workbooks
·  Cash Flow Statement
·  Assumptions
Friday
Nov 13 / Lecture / 2 hr / Income Statement Forecasting & Intro to Process Costing
·  Revenue, COGS, Gross Margin / Chapter 4, Brewer / Consider rationale for forecasting I/S items
Tutorial / 1 hr / Review
Week 02
Monday
Nov 16 / Lecture / 2 hr / Lecture 5
Process Costing / Chapter 4, Brewer / ·  Understanding of in what circumstances a Process Costing system is appropriate
·  Methods of accounting for inventory, direct labour and manufacturing overhead in a Process Costing environment
Tutorial / 1 hr / Income Statement Forecasting
·  SG&A,
·  Operating margin
·  Net Income
Submit and Present Case Study SWOTS – 1 page
Tuesday
Nov 17 / Lecture / 2 hr / Lecture 6
Cost-Volume- Profit Analysis
Contribution Income Statements / Chapter 5, Brewer
Review Cash Flow Statements and their relationship to Balance Sheets and Income Statements / - Understanding of and ability to determine absolute and marginal profitability of each product or service
- impact of analysis on pricing decisions / Complete Income Statement Forecast
Review Balance Sheets and forecasting methods
Consider applications to Case Study
Tutorial / 1 hr / Balance Sheet Forecasting
·  Working Capital
–  AR
–  Inventory
–  AP and Accruals
Wednesday
Nov 18 / Lecture / 2 hr / Lecture 7
Variable Costing and Segmented Reporting / Chapter 6, Brewer / Understanding Variable verses Absorption costing
Understanding the challenges of dealing with fixed costs and how to address them
Tutorial / 1 hr / Balance Sheet Forecasting
·  Fixed assets
·  Long term liabilities
·  Shareholders’ Equity
Thursday
Nov 19 / Lecture / 2 hr / Lecture 8
Profit Planning and Budgeting / Chapter 7, Brewer / How to take understanding of costs and cost types to develop an outlook for business planning purposes
Tutorial / 1 hr / Modeling Cash Flow Statements
Friday
Nov 20 / Midterm Exam
Week 03
Monday
Nov 23 / Lecture / 2 hr / Lecture 9
Flexible Budgets, Variance Analysis and Standard Costs / Chapter 8, Brewer / ·  Understand the often huge significance of overhead costs, what flexibilities a company has to reduce overhead costs in bad times
·  How to prepare a flexible budget for overhead
·  Understanding of what is Standard Costing, its advantages and when to use it
Tutorial / 1 hr / Building out a full scale working forecast and financial model
Tuesday
Nov 24 / Lecture / 2 hr / Lecture 10
Decentralized Organizations and how to make decisions / Chapter 9, Brewer / ·  Measuring company performance based on ROI and alternative measures
·  Understanding the difference between profitability and ROI and how they interrelate
Tutorial / 1 hr / Building out a full scale working forecast and financial model (continued)
Wednesday
Nov 25 / Lecture / 2 hr / Lecture 11
Differential Analysis / Chapter 10, Brewer / ·  To be able to discern which costs are relevant to any particular investment decision
·  To be able to apply these costs and calculate which in a series of alternative is most appropriate and why
Tutorial / 1 hr / Finalize working forecasts models in preparation for stress testing and analysis
Thursday
Nov 26 / Lecture / 2 hr / Lecture 12
Capital Budgeting Decisions / Chapter 11, Brewer / ·  Understanding of what are Capital Assets
·  What specific decision making information is necessary to make an investment decision in favour of a Capital Asset
·  How to calculate and analyze to optimize investment decisions
Tutorial / 1 hr / Pick three critical forecasting assumptions, measure the impact of each on profitability and cash flow
Friday
Nov 27 / Lecture / 2 hr / Analyze and explain how the results of your stress testing might impact decisions made at the company
Tutorial / 1 hr / Review
Week 04
Monday
Nov 30 / Lecture / 2 hr / Lecture 13
Cash Flow Statements / Chapter 12, Brewer / ·  Understanding that profit is not the only source of cash in a business, and that losses are not the only use of cash
·  Knowledge of how to forecast cash requirements to ensure continued solvency
·  Ability to compile a cash flow statement out of a balance sheet and income statement / Update stock prices and portfolio valuation based on most recent price closes
Tutorial / 1 hr / Analyze and explain how the results of your stress testing might impact decisions made at the company
Submit Paper stock portfolio based on most recent closing prices
Tuesday
Dec 01 / Lecture / 2 hr / Lecture 14
Financial Statement Analysis / Chapter 13, Brewer / ·  Knowledge of key financial ratios, their purpose and how to calculate them
·  Using ratio analysis to support investment and other decisions
·  Which tools are most useful to which audiences
Tutorial / 1 hr / Final Case Studies DUE for submission
Wednesday
Dec 02 / Lecture / 2 hr / Lecture 15
Horizontal and Vertical Analysis
Impact of Competitors
Case Study Presentations – Q&A / ·  Understand how to compare profitability and other efficiencies of similar companies which differ in size
·  Actions to take when differences are identified
Tutorial / 1 hr / Review
Thursday
Dec 03 / Lecture / 2 hr / Lecture 16
Further Considerations
·  Total Enterprise Value
·  Comparative Valuation Metrics
Case Study Presentations – Q&A
Tutorial / 1 hr / Review / ·  How do outsiders view the company and how this impacts company decisions – operationally, financially.
Friday
Dec 04 / Final Exam