Module Details

Module Code: ACCT C2317
Module Title: Cost Accounting
Title: Cost Accounting
Module Level:: 7
Credits:: 5
Module Coordinator: Myles Kelly
Module Author:: Tracy Byrne
Domains: Business
Module Description: The aim of this module is to enable students to develop a knowledge and understanding of the role of cost accounting in business management, and the ability to select, apply and analyse cost accounting techniques in typical business situations.
The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to a B.A. (Honours) in Accounting program.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Define and explain the key terms, concepts and practices for costing products and services and measuring profit.
LO2 Identify and apply appropriate cost accounting techniques when presented with defined and undefined practical business problems.
LO3 Analyse and interpret results and outcomes within a cost accounting framework and make recommendations.
LO4 Critically examine the tools and techniques that are used in the area of cost accounting.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
 
Indicative Content
Introduction to Cost and Management Accounting
The nature and role of cost and management accounting. Financial, cost and management accounting compared. Classification of costs.
Accounting for Materials and Labour
Direct and indirect materials. Materials control process and related documents. Material pricing (FIFO, LIFO, weighted average). Payroll procedures and control. Labour remuneration methods including incentive schemes. Direct and indirect wage analysis.
Accounting for Overheads
Rationale for absorption costing. Overhead absorption rates (plant-wide and departmental). Allocation, apportionment and absorption into cost centres and cost units. Apportionment of service departments and treatment of reciprocal services. Under and over-absorption of overheads.
Cost Accounts
Interlocking and integrated accounting systems. Accounting for materials, labour and overheads.
Costing Methods
Job and batch costing. Principles of service costing. Process costing including normal, abnormal losses/gains and work-in-progress.
Module Content & Assessment
Assessment Breakdown%
End of Module Formal Examination100.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Other % of Total Mark 0
Timing Week 6 Learning Outcomes 1,2,3,4
Non-marked No
Assessment Description
Formative Assessments including MCQ's / Short Numerical Answer Questions / Progress Tests
Assessment Type Other % of Total Mark 0
Timing Week 11 Learning Outcomes 1,2,3,4
Non-marked No
Assessment Description
Formative Assessments including MCQ's / Short Numerical Answer Questions / Progress Tests
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 100
Timing End-of-Semester Learning Outcomes 1,2,3,4
Non-marked No
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

SETU Carlow Campus reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 4.00 4
Independent Learning Time Non Contact No Description Every Week 5.00 5
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Independent Learning Time Non Contact No Description Every Week 7.00 7
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Colin Drury and Mike Tayles. (2021), Management and Cost Accounting, 11th Ed. 26, Cengage Learning, [ISBN: 9781473773615].
Supplementary Book Resources
  • Gail Sheppard. (2011), Management Accounting, A Practical Approach, 1st Ed. 12, Gill Education, p.300, [ISBN: 9780717149964].
  • Peter Clarke. (2016), Managerial Accounting, Costing, Decision-Making and Control, 3rd. 16, Chartered Accountants Ireland, p.832, [ISBN: 9781910374672].
This module does not have any article/paper resources
Other Resources
Discussion Note: