Draft Edition - Due to be published Tuesday 11th April 2023.

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DRPS : Course Catalogue : Business School : Common Courses (Management School)

Postgraduate Course: Budgeting and Costing in a Business (CMSE11413)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 11 (Postgraduate)
Course typeOnline Distance Learning AvailabilityNot available to visiting students
SCQF Credits10 ECTS Credits5
SummaryThe Budgeting and Costing processes are two of the key accounting tools which seek to meet the needs of managers in order to be able to plan for the future of the business so as to achieve its overall aims and objectives. In this course participants will apply the principles of these techniques to solve problems and answer questions faced by management regarding the financial operation of the business.

The course will be of interest to any post-experience student who is part of a service business in the veterinary, medical or legal fields. It is intended to meet the needs of people who will be managing/leading, and/or working within, a small or medium size service businesses in these fields (e.g. GPs, vets, dentists, physiotherapists, solicitors).
This course is intended as a follow on to the course Financial Accounting for your Business (course code CMSE11412), but can be taken independently if the student has some prior accounting knowledge.
Course description The course will give course participants an understanding of the internal management accounting systems and processes used by businesses in their planning and costing decisions in order to achieve the overall aims and objectives of the business. Key accounting tools used in costing, budgetary planning and control will be examined and having completed the course participants will be able to apply the principles of these techniques to solve problems and answer questions faced by management regarding its financial operations.

Outline Content:

- The budgeting process and its importance for an business or organization
- The role of costing and the terminology and processes used in this area
- The use of break-even analysis in making decisions for a business
- Full costing and its use in the costing of services and products and its role in setting prices

Student Learning Experience:
This course will be delivered online through the virtual learning environment 'Learn'. Students will have access to recorded lectures and tutorials on each of the topics, and there will also be a number of live online sessions with the lecturer. A weekly study plan will give details of the topic to be covered, readings for the week, details of self-test materials, and tasks and assessments to be completed. Discussions forums will be used for class discussions on various topics.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Course Delivery Information
Not being delivered
Learning Outcomes
On completion of this course, the student will be able to:
  1. Differentiate between, and prepare, various budgets used by a business and discuss the importance of each.
  2. Explain the role and purpose of costing in a business or organisation and categorise and compare the terms associated with the costing process such fixed costs, variable costs, semi-variable costs, direct costs, and overhead costs.
  3. Calculate the break-even point for the business and discuss its usefulness and demonstrate the way in which this kind of analysis can be used when making short-term decisions for the business.
  4. Calculate the cost a service or product to ensure that the business is profitable.
Reading List
Principal textbook: Accounting and Finance for Non-Specialists, by and Peter Atrill & Eddie McLaney, 10th Edition. Publisher: Pearson, ISBN: 978-1-292-13560- (for paperback).
This book is also available in e-book form ISBN: 978-1-292 -13565-6
Additional Information
Graduate Attributes and Skills -Enhancement of technology skills through use of online learning tools.
-Exercise independent learning and analytical skills.
-Critical evaluation and interpretation of course material.
-Apply analytical and problem solving skills to numerical information.
KeywordsNot entered
Course organiserMs Deirdre Ruddy
Course secretaryMrs Kelly-Ann De Wet
Tel: (0131 6)50 8071
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