Managerial Accounting and FinanceModule Details

Course/Module Description:

This module is designed to enable students to gain knowledge and understanding of managerial accounting practices, processes and concepts that can be applied in a general management context. The central consideration of this module is that managers need to be aware of, and be able to critically evaluate, the informational outputs of accounting systems and financial management techniques, and how their application underpins managerial, financing and investment decisions, and contemporary issues of relevance to these techniques.

Course/Module Objectives:

The main objectives of the course are:

1. To provide an overview of the key finance principles and introduce how financial theory can be used to address practical problems
2. To help students understand the use of cost accounting techniques
3. To understand how financial markets operate and how security prices are determined
4. To show how managerial finance can affect the value of the firm and explore the use of performance measurement systems in organizations
5. To understand the importance and role of finance in valuation techniques and risk analysis towards investment opportunities and evaluation of those through investment techniques.

Course/Module Learning Outcomes:

After completion of the course students are expected to be able:

1. To define the importance and role of finance in the organization and discuss the role of accountancy and the information needs of managers
2. To measure risk and rates of return as well as assess the valuation of Bonds and Stocks and explain the cost of capital and estimate the firm’s optimal capital structure
3. To prepare and present management information for both short term and long term decision making including analysis of financial statements and application of time value of money concepts, appraisal of investments, illustration of cash flow estimation for expansion projects and replacement projects and development of plans and budgets and discuss the influence of target setting for manager
4. To classify costs and explain their behavior through discussing the elements of costs and performing calculations of direct materials, direct labor costs and evaluating the use of different cost accounting methods, including absorption, marginal costing and activity-based costing
5. To assess the factors that influence the pricing decision and cost plus pricing, break-even pricing and profit oriented pricing. To critically discuss alternative cost accounting principles and budgetary behavior as well as examine and prepare standard costing system and perform variance calculations and analysis