Intermediate Management Accounting
Managers are faced with a wide range of decisions under resource constraints involving varying time frames in an uncertain environment. Managers have to decide the price of a product, the optimum production plan under resource constraints, and acceptance or otherwise of a project. Businesses today operate within a competitive environment. Downward pressure on prices coupled with the need to deliver quality means that effective cost management is no longer an option. This module will equip you with the relevant tools and techniques to deal with these issues.
The tools and techniques taught in this module are applicable worldwide due to their universal nature.
The sustainable development theme will be embedded within the numerous decision-making scenarios throughout the module. Students will be encouraged to adopt a sustainable development mindset.
This module also offers students an online forum where students may initiate discussions with peers and the module convenor. Students will also have access to recordings of the lectures.
All the resources for this module are available on the ELE (Exeter Learning Environment).
Students are encouraged to participate in global business competitions, specifically, the CIMA (Chartered Institute of Management Accountants) Global Business Challenge.
This module is accredited by the ACCA (Association of Chartered Certified Accountants), ICAEW (Institute of Chartered Accountants in England and Wales), and CIMA (Chartered Institute of Management Accountants).
Students will acquire transferable skills valued by prospective employers such as numerical, decision-making, analytical, communication, presentation and teamwork skills.
Students will also have the opportunity to meet sponsors and representatives from various companies should they participate in business competitions.
Full module specification
|Module title:||Intermediate Management Accounting|
|Duration of module:||
Duration (weeks) - term 1: |
This module aims to provide students with an in-depth appreciation of the various decision-making techniques that are applicable to a wide range of short-term and long-term decisions faced by organisations. The module also equips students with an understanding of the more complex inventory valuation systems and contemporary cost management philosophies, tools and techniques. The latter will provide students with an armory of techniques to deal with the requirements of the current business environment
ILO: Module-specific skills
- 1. apply the principles of relevant costing and determine cost and revenue that are relevant for the decision under consideration
- 2. discuss the relevance of relevant costing
- 3. apply, explain and evaluate the various techniques used for short and long-term decisions
- 4. apply linear programming to problems that involve multi-limiting factors and interpret the results to determine the optimal solution
- 5. apply and explain the various decision-making techniques under conditions of risk and uncertainty and determine the appropriate technique to apply based on the risk attitude of the risk-taker
- 6. determine the value of information
- 7. determine the difference between operational and strategic investment decisions
- 8. apply strategic investment appraisal to strategic investment decisions
- 9. evaluate the tools that can be used to support strategic investment appraisal
- 10. explain, evaluate and apply the various pricing methods and techniques, and justify the use of different pricing methods to ensure alignment with corporate strategy
- 11. discuss and evaluate the various contemporary cost management philosophies, tools and techniques, and the context of its application
- 12. explain and evaluate the various budgetary control systems including incremental budgeting, zero-based budgeting, rolling budgets, activity-based budgeting, fixed and flexible budgets and the concept of Beyong Budgeting
- 13. discuss the behavioural aspects of budgeting
- 14. apply, explain and evaluate standard costing and variance analysis
ILO: Discipline-specific skills
- 15. apply the decision-making tools and techniques to aid business decisions and recommend courses of action
- 16. apply and determine the use of appropriate contemporary cost management tools and techniques to enable businesses to develop a competitive advantage over competitors
- 17. effectively manage the performance of a business
ILO: Personal and key skills
- 18. demonstrate written communication skills
- 19. demonstrate problem solving skills
- 20. demonstrate an ability to undertake independent learning and effective time management
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning & Teaching activities||22||Lectures|
|Scheduled Learning & Teaching activities||11||Seminars and help classes|
|Scheduled Learning & Teaching activities||10||Tutorials|
|Guided independent study||107||Reading, research and preparation for tutorials|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Weekly tutorial problems for discussion||Four to five hours a week (inclusive of preparation time)||1-20||Tutor comments and suggested solutions|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Written individual assignment||20||1,500 words||1-20||Mark awarded Individual feedback|
|Written examination||80||2 hours 15 minutes||1-20||Mark awarded Suggested solution on ELE|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Written individual assignment (20%) and 2 hours 15 minutes written examination (80%)||Written exam (100%) 2 hours 15 minutes||1-20||August Examination period|
|August Examination period|
Where you have been referred/ deferred for the exam, you will have the opportunity to take a second exam in the August/September re-assessment period. For referral, this will constitute 100% of the module (15 credits).
• Relevant costing and its relevance
• Limiting factor analysis and linear programming
• Decision-making under conditions of risk and uncertainty
• Capital investment decisions
• Pricing decisions
• Cost management 1
• Cost management 2
• Cost management 3
Budgetary control system
• Budgetary systems and behavioural aspects of budgeting
• Standard costing and variance analysis
Indicative learning resources - Basic reading
Burns, J., Quinn, M., Warren, L. & Oliveira, J. (2013), Management Accounting, UK: McGraw-Hill
Drury, C. (2012), Management and Cost Accounting, 8th edition, UK: Cengage
Module has an active ELE page?
Indicative learning resources - Web based and electronic resources
Lecture notes, tutorial questions and solutions, and relevant articles
Last revision date