Management Accounting & Methods (Manufacturing/Electrical Technology Module)
Status: Register Your Interest
Electrical & Electronic Engineering
Flexible & Professional
To provide the learner with a broad knowledge of costs applied to the value chain in industry and management techniques to control them. Having successfully completed this module, the learner will be able to:
1. Understand the role of management accounting.
2. Analyse costs and understand their behaviour.
3. Appreciate the need to make marketing and product decisions.
4. Understand Lean Manufacturing origins and the Toyota Production System.
5. Appreciate the role of Six Sigma in modern industry.
What are the entry requirements?
There are no formal entry requirements for participants wishing to take this module as a single subject, however these are not introductory level modules and some familiarity with the area as well as a level of independent study would be expected for exam success. Participants taking this module as part of the Bachelor of Engineering in Manufacturing Technology or the Bachelor of Engineering in Electrical Technology must meet the entry requirements outlined on the relevant course pages.
ENGLISH LANGUAGE: Applicants who do not have English as their first language must ensure they satisfy English Language requirements. For entry to undergraduate courses, a minimum score of 5.5 in an IELTS exam is required. For postgraduate courses, a minimum of 6.0 is required. It is the responsibility of the applicant to ensure their English proficiency meets these requirements.
What modules will I study?
Management Accounting, JIT and CIM.
Costs: break-even and cost-volume analysis, measuring costs, activity-based costing.
Decision making: Optimal use of limited resources, pricing decisions, production decisions, opportunity, outlay and differential costs. Make-or-buy decisions. Joint product costs.
Budgeting: preparing the master budget. Sales forecasting, financial planning models, flexible budgets and variance analysis, capital budgeting for programs or projects. Discounted cash flow models, sensitivity analysis and risk assessment in DCF models. IRR and NPV approaches, comparison, application to case studies.
Production costing: allocation of costs, overhead, activity-based costing, job and process costing.
12 weeks, 3 hours per week 7.00pm to 10.00pm
This programme may be offered again in the 2022-2023 academic year. This will be confirmed in early Summer 2022
What will the time committment be?
Each 5 credits will normally equate to approximately 100 Total Learning Hours. Total Learning Hours includes the time you spend in class (lectures, tutorials, practical elements) and the time you spend completing work outside of college. The balance between these two varies by discipline, and by level of study. You should bear in mind that the workload will increase at particular times e.g. when assignments are due.
Each taught module has a programme of continuous assessment worth 50% and a final exam worth 50%. It is necessary to pass both elements to achieve an award in the module.
Participants not registered on the Degree may request an LIT Subject Certificate (Level 7, 5 Credits) on successful completion of the module. Students registered on the Degree will receive ECTS credits for each group of modules successfully completed. Accumulation of 60 credits will lead to the Degree Award.
NOTE: This module may be completed as a stand-alone course, or it may be completed by eligible participants for the credit towards the award of Bachelor of Engineering in Manufacturing Technology (Level 7) or Bachelor of Engineering in Electrical Technology (Level 7).