Learning Outcomes:
On completing this module student should be able to:
1. Employ the key principles of engineering cost analysis from a management accounting perspective.
2. Develop accurate costings for engineering products and services.
3. Critically analyse product costings and budgets at the individual, functional and firm levels.
4. Design cost based performance measures for a firm.
Indicative Module Content:
Engineering Cost Analysis focuses on the use of management accounting systems in manufacturing and service organisations for internal planning and control purposes. Topics include:
- Cost behaviour: The difference between profit and cash.
- Financial management: Ratio Analysis and financial management, working capital management.
- Decision making using break-even and variable costing.
- Product costing and pricing using absorption and activity based costing approaches.
- Budgetary control: creating budgets, balanced scorecard.